The Department of Veterans Affairs is drafting a new policy to address ongoing confusion about its Interest Rate Reduction Refinance Loan program and ease investor anxiety. The uncertainty among VA lenders stems from the treatment of IRRRLs under the VA’s interim final rule defining what constitutes a “qualified mortgage.” That rule took...
In general, it hasn’t been a pretty picture this year when it comes to the sale of “bulk” mortgage servicing rights, especially Ginnie Mae receivables. According to figures compiled by affiliate publication Inside Mortgage Trends, bulk MSR transfers (one barometer of sales) increased 20.6 percent in the second quarter compared to the first with roughly $42.9 billion of Fannie Mae, Freddie Mac and Ginnie product changing hands. The third quarter is expected...