The mortgage industry this week continued to look for a fix to the VA Interest Rate Reduction Refinance Loan mess, which has imperiled roughly $500 million worth of government product that is now ineligible for Ginnie Mae securitization.
Congress should complete bipartisan housing finance reform during the two year term that begins in January, according to Treasury Secretary Steve Mnuchin...
If Congress is unable to pass housing finance reform, Steven Mnuchin, secretary of the Treasury Department, said on Thursday that the Treasury will “look at administrative options.”
The spring homebuying season fueled a relatively modest increase in production of Ginnie Mae single-family mortgage-backed securities during the second quarter of 2018, according to a new Inside FHA/VA Lending ranking and analysis. Lenders issued $98.66 billion of Ginnie MBS backed by forward mortgages during the April-May cycle. That was up 6.6 percent from the first three months of the year, but 2018 continued to lag behind the pace set in 2017 by 10.7 percent. Given current trends, annual Ginnie MBS issuance in 2018 could fall short of the $400 billion mark for the first time since 2014. The flow of FHA and VA purchase mortgages was up a solid 23.7 percent from the first to the second quarter, bringing the total for the first half of the year to $121.01 billion. However, that was down 4.7 percent from the same period in 2017. Ginnie securitized $75.02 billion of FHA purchase loans in the ... [Charts]
Fannie Mae this week released details about a pilot program that explores an alternative to how private mortgage insurance is placed on loans the government-sponsored enterprise acquires.
Some courts have determined that because non-judicial foreclosures don’t technically obligate borrowers “to pay money,” protections from the FDCPA aren’t available.
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