Consultant Joshua Rosner of Graham-Fisher said the letter is significant because it marks the first time that the ICBA has joined with civil rights groups and housing organizations on a GSE-related matter.
The announcement follows recent administrative actions against three VA lenders that were penalized for cherry picking and refinancing unseasoned loans…
Ginnie Mae has added a new metric to make it easier for approved issuers to track the prepayment rates of single-family loans underlying they have delivered into mortgage-backed securities. The new prepayment metric would enhance Ginnie’s Issuer Operational Performance Profile (IOPP) tool, which was launched in 2015 to help issuers measure their performance against the agency’s standards. The new tool is the latest move by Ginnie to ensure the integrity and market predictability of Ginnie MBS. The prepayment tool will be available to lenders beginning June 25. The announcement follows an agency administrative action last week against three VA lenders that were penalized for cherry picking and refinancing unseasoned VA loans not to benefit borrowers but to charge them higher fees. The lenders – Freedom Mortgage, SunWest Mortgage Co. and NewDay USA – were among nine issuers that ...
Ginnie Mae continued to lead the growth in agency single-family MBS outstanding during the first quarter of 2018, according to a new Inside MBS & ABS analysis. [Includes three data charts.]
The Federal Housing Finance Agency this week unveiled a proposed rule on capital standards for Fannie Mae and Freddie Mac, acknowledging that the rule would not be imposed on the two government-sponsored enterprises as long as they’re in conservatorship.
With loan production of non-qualified mortgages continuing to gather a head of steam, Wall Street financiers, conduits and warehouse lenders increasingly are taking a keen interest in the sector.
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