Ginnie Mae has no plans to reduce the number of issuers it oversees or raise capital standards for servicers, but in an interview with Inside MBS & ABS this week, Executive Vice President Michael Bright made it clear he’s worried about liquidity – a lot.
Fannie Mae and Freddie Mac will begin issuing the long-awaited uniform MBS on June 3, 2019, but the Federal Housing Finance Agency strongly urges the industry to not delay getting ready.
Two of the nine MBS issuers that Ginnie Mae singled out for unusual MBS prepayment speeds reportedly have been restricted from the agency’s multi-issuer MBS pools.
Agency single-family MBS represents a huge share of the asset-securitization market. So when Fannie Mae, Freddie Mac and Ginnie Mae turn in a weak quarter, it drives down total issuance.
Fannie Mae’s Servicing Marketplace has been up and running since December and the government-sponsored enterprise plans to add additional features later this year.
Having little proficiency in English is a big impediment to homeownership, according to a new study by the Urban Institute that examined homeownership by zip codes. The think tank lauded the addition of the preferred language question to the Uniform Residential Loan Application and said it’s a move in the right direction.
Nonbanks accounted for just over half of the total first-lien mortgage production by the top 100 lenders in the market, according to a new Inside Mortgage Finance analysis and year-end tally.
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