The Mortgage Bankers Association and the Housing Policy Council want the VA to carefully consider the specifics of a new loss-mitigation program, the VA Servicing Purchase program, it plans to unveil this summer.

Loan holders or their authorized servicing agents with automatic authority must decide on a completed loan assumption application within 45 calendar days of receipt, VA said in new guidance.

Members of the House Financial Services Committee are seeking clarification related to the treatment of delinquent loan buyouts from Ginnie Mae pools in the new Community Reinvestment Act proposal.

The changes would improve FHA’s ability to make prompt payments in instances when a HECM lender defaults on its borrower obligations.

Ginnie Mae announces implementation timeline for new single-family pool delivery; Ginnie signs memo with USDA on social metrics data sharing for ESG disclosures; HUD OIG issues semiannual report.

Lower demand and drastically reduced issuance may balance out in the MBS market. Meanwhile, high spreads mean the asset could attract new investors.

The need for Ginnie Mae nonbank issuers to have ongoing access to capital is key to their success, and that informs the agency’s approach to policy and risk management, said Ginnie President Alanna McCargo. 

Spreads on new non-agency MBS issuance are tightening. Still, issuance is expected to decline on an annual basis.

With mortgage banking profits under pressure these days, sleep is still being lost over what might go wrong in the nonbank sector regarding Ginnie Mae obligations. One idea: a commercial paper backstop.

The FDIC has filed several lawsuits related to its role as receiver in the liquidation of Washington Mutual.