Ginnie Mae will soon announce a series of measures to resolve improper refinancing of VA loans that is causing rapid prepayments in the agency’s MBS, according to Michael Bright, Ginnie’s acting president.
Some servicers in recent years have tapped the securitization market to help finance the purchase of mortgage servicing rights. Structures for deals from three nonbanks have varied significantly, ac-cording to an analysis by Moody’s Investors Service.
The credit-risk transfer programs at Fannie Mae and Freddie Mac suggest that the two government-sponsored enterprises are charging MBS guarantee fees that are somewhat higher than market ex-pectations, according to a new Federal Housing Finance Agency report.
Mick Mulvaney has been in charge of the CFPB all week and we’ve yet to hear one prediction that subprime mortgage lending will revive with a vengeance…
According to figures compiled for the National Mortgage Database and analyzed by Inside Mortgage Trends, for much of the past decade there has been a saw-tooth pattern that finds late payments begin increasing in November of each year before peaking in January.
Mulvaney’s ascension has raised expectations the bureau will alter its legal positions in high-profile cases such as those involving Ocwen Financial and PHH…
Acting Ginnie Mae president Michael Bright said the task force is examining critical issues, important data and lender behaviors related to refinancing loans…
Earlier this week, GR promoted two senior vice presidents – James Elliot and Chris Knapp – giving them additional responsibility over sales and recruiting…
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