Issuers may now choose between two methods of compensating servicers of securities backed by Home Equity Conversion Mortgages under a new policy change announced recently by Ginnie Mae. The choices are either a monthly flat servicing fee of 6-to-75 basis points or ...

Ginnie Mae servicing continued to show strong growth as it posted a 4.0 percent jump in the first quarter of 2011 from the previous quarter and an overall 19.3 percent increase from the same period last year. The top 50 Ginnie servicers reported $1.11 trillion of single-family mortgage debt outstanding at the end of the... [Includes one data chart]

Ginnie Mae tightened several regulations relating to its mortgage-backed securities program over the last month as its MBS issuance hit a two-year low in early 2011. Ginnie All Participants Memo 11-04 changed rules that had allowed servicers to include delinquent loans into Ginnie pools. The memo told...[Includes one data chart]

The current method of paying servicers could stand to be improved, but regulators and secondary market investors need to bear in mind that change would have ripple effects throughout the industry, according to a new analysis by Mortgage Industry Advisory Corp., a consulting firm based in New York. “Changing the servicing fee from its current form may...

Non-agency mortgage-backed securities investors do not have enough confidence to allow for accelerated reform of the government-sponsored enterprises, according to Michael Berman, chairman of the Mortgage Bankers Association. “The key is the private markets have spoken that they don’t have confidence,” Berman said last week in...

In what may be an omen of a deeper slide of volume in the months to come, Fannie Mae and Freddie Mac saw their issuance of new mortgage-backed securities drop 21.4 percent in the first quarter of the year from the prior period, the latest data from the Inside Mortgage Finance GSE MarketScope show...[includes one full-page chart]

Commercial banks posted a solid 7.3 percent increase in their holdings of MBS over the second half of 2010, emerging as the top investor class in the market, according to a new Inside MBS & ABS analysis. Commercial banks held...[Includes one data chart]

The leading financial institutions that provide mortgage loans eligible to be sold to Fannie Mae and Freddie Mac continued to gradually tighten their underwriting and incrementally increase the quality of their business in the fourth quarter of 2010, according to the latest data from the Inside Mortgage Finance MBS Database. As refinance mortgages became...[Includes one data chart]

Federal ReserveLO Compensation Webinar. The Fed will host a webinar on March 17 to answer questions and provide an update on the controversial loan officer compensation rule, which takes effect April 1. Securities and Exchange Commission Mortgage Firm, Top Executive Charged...

Wells Fargo will stop offering reverse mortgages through its wholesale and broker channels after next week, becoming the latest large FHA lender to reconfigure its business in that sector. Bank of America announced in early February that it will stop originating reverse mortgages as the company plans to focus on its “core” business. Wells and BofA were...[Includes one data chart]