Three names are being kicked around to head Ginnie Mae, the government’s $2 trillion MBS guarantor: Robert Couch, Clinton Jones and Joe Murin. But is something else afoot?
Ginnie Mae’s counterparty risk measures, including stress testing, are credit positive for the MBS sector but may be daunting for smaller participants, says Fitch Ratings in a new report.
Liquidity does not appear to be a cause of concern for the secondary market agency’s top nonbank issuers despite differences in how liquidity issues are addressed from firm to firm.
Ginnie Mae is in the early stages of developing stress tests for its MBS issuers to ensure they have enough liquidity to withstand adverse economic conditions.
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