Thanks to the economic carnage caused by the pandemic, interest rates continue to drift lower, with some originators offering 30-year FRMs at under 3.0% and 15-year mortgages below 2.0%.
After that date, Ginnie MBS issuers will no longer be able to enter the agency’s legacy systems — GMEP and GinnieNET — directly through their web addresses.
The attachment point in the transaction is 2.50% on a cumulative basis whereas prior deals were at 2.25%. KBW said the increase implies the deal will provide immediate PMIERs capital relief.
Noting that competitive pricing can be impacted during disasters such as the one created by the coronavirus, HUD’s internal watchdog has listed red flags officials should look for when reviewing bids.
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