Ginnie Mae issuance fell 2.2 percent in the fourth quarter of 2014 as the agency closed a busy year with more than $288.1 billion in total business, according to analysis of agency data. Home-purchase loans, at $192.6 billion, comprised the bulk of new government-loan securitizations, while refinances accounted for $73.0 billion. Loan modifications represented $22.6 billion in total issuances. FHA funneled $158.1 billion in loans to Ginnie Mae while VA and Rural Housing Development loans accounted for $109.5 billion and $19.9 billion, respectively. Wells Fargo led all Ginnie MBS issuers with $57.6 billion followed by PennyMac in distant second with $16.7 billion. Chase Home Finance landed in third place with $15.0 billion while Freedom Mortgage closed the year in fourth place with $14.8 billion. Rounding out the top five Ginnie Mae issuers, Quicken Loans ended 2014 with ... [ 1 chart ]

CWCOT, EVARS Webinars Scheduled. The Department of Housing and Urban Development has scheduled free webinars to provide FHA lenders an overview of Mortgagee Letter 2014-24, which deals with the increasing use of FHA’s Claims Without Conveyance of Title procedures. Discussion will include how foreclosing on FHA properties may differ from previous guidelines; requirements for appraisals; bidding instructions; and claim requirements. Personnel who deal with foreclosure valuation, claims and default reporting, real estate auction attorneys and foreclosure attorneys are encouraged to attend. Webinars will be held on Jan. 12 and Jan. 20, 2015, 2 p.m.-4 p.m. EST. For more information, email: stacey.a.brown@hud.gov. Free training webinars on “HUD Extension of Time and Variance Request System,” will be held on ...

It was the strongest refi volume of the year, and it helped offset a 9.8 percent drop in purchase-mortgage securitization over the same period.

Moody’s noted that 88.1 percent of the mortgages slated for securitization have been modified.

Lowering premiums now would only put the FHA MMIF further behind, the House Financial Services Committee chairman argued.

Mortgage lenders are delirious about lower FHA premiums, right? Well, not everyone.

HUD Secretary Castro said the MMIF is on a “positive trajectory,” though he admits the premium reduction could delay its recovery...

Ocwen Financial’s massive exit from the agency servicing market is expected to be a multi-year phase-out complicated by its past regulatory problems and a weak market for legacy product, according to industry advisors. If the company follows through on its promise to exit all segments of the agency market – Fannie Mae, Freddie Mac and Ginnie Mae – it will wind up selling a hefty $182.51 billion of residential mortgage servicing rights, based on third quarter survey numbers submitted to Inside Mortgage Finance. At Sept. 30, the nonbank serviced...

The share price of certain mortgage stocks took it on the chin in 2014, caught in all the negative publicity surrounding Ocwen Financial and nonbank mortgage companies. According to an analysis by Inside Mortgage Finance of a select group of nonbank lender/servicers, Ocwen’s stock suffered the largest decline in 2014 as measured by current price to its 52-week high. Based on prices this week, Ocwen’s common is trading at a 76 percent discount to its high for the past 12 months. Ranking second in this ignoble category is...[Includes one data chart]

Mortgage underwriting standards have loosened in recent years, led by the jumbo market and reduced overlays on agency mortgages, according to the Mortgage Bankers Association. However, underwriting standards aren’t nearly as lenient as they were in the early 2000s, prompting some to call for further loosening. The MBA’s Mortgage Credit Availability Index has trended up since the beginning of 2012. “Most of the action in terms of loosening has been on the jumbo side,” said Michael Fratantoni, MBA chief economist, at a talk hosted this week by the Urban Institute’s Housing Finance Policy Center. Separately, he noted...