Ginnie Mae’s decision to change the pooling requirements for streamline refinance loans should boost investor confidence and slow new production of GNMA IIs, Deutsche Bank analysts said. The change could be seen as mildly more restrictive than current pooling standards, particularly having more impact on VA loans, which unlike FHA, have no seasoning requirement to qualify for streamline refinancing, said Jeana Curro, bank research analyst. Under new guidance issued last month, in order to be pooled into standard Ginnie I or Ginnie II multi-issuer pools, streamline refi loans must show...
Mortgage lenders and servicers could see a dramatic change in the regulatory environment following the election of Donald Trump as president with a GOP-controlled Congress. During a campaign of many and sometimes conflicting promises, Trump vowed to repeal the Dodd-Frank Act, which would require Congressional action and, if carried out in its entirety, would abolish the Consumer Financial Protection Bureau. Some observers think a more likely outcome is a restructuring of the CFPB itself and curbing of some regulatory and enforcement actions, perhaps with new leadership. Mortgage lending issues were...
In a Trump administration it's possible Fannie Mae and Freddie Mac would would face more competition and have less of an economic edge over non-GSE rivals, said Cowen & Co.
CEO Messina added: “We are continuing to evaluate possible additional sales of our remaining MSR portfolio and to evaluate the best course of action for our real estate and servicing platforms, which we expect to complete by the end of January 2017.”
Deutsche Bank Securities said there’s been no new information to alter its view that the MIP would be cut this year. “However, we seem to be in the minority,” said research analyst Jeana Curro.
The FHA is decreasing the owner-occupancy rate for approved condominium developments that meet certain requirements, the agency announced recently. Currently, the FHA requires a minimum of 50 percent of the units be occupied by owners. The agency, however, said it would allow a 35 percent owner-occupancy rate if the project meets certain conditions that would make it more financially stable and less of a liability to the Mutual Mortgage Insurance Fund. While having too few owner-occupants could financially weaken a condo project, requiring too many could make...
Wells Fargo once again ranked first among all agency sellers with $17.6 billion sold to Fannie, Freddie and Ginnie. Quicken was second with $8.46 billion.
After soaring to nearly a four-year high in September, monthly production of Fannie Mae, Freddie Mac and Ginnie Mae MBS starting coming to earth in October. The three agencies issued a total of $146.68 billion of single-family MBS last month, down 8.8 percent from September. Even with the downturn, October still ranked as the second-highest monthly issuance since June 2013. Year-to-date production edged...[Includes two data tables]
RSS