Ginnie officials have received high marks from the industry for setting up a liquidity facility during the early days of the coronavirus crisis. But how many program applicants have there been? We may find out soon.
Thanks to a tweak in regulatory language, approved Ginnie Mae servicers can access financing for servicing advances. PennyMac was the first to sign up. Will other nonbanks follow?
Thousands of rural multifamily rehabilitation loans have become ineligible for a Ginnie guarantee due to USDA’s reformed interpretation of its subordinate-lien policy.
The Federal Housing Finance Agency has proposed separate capital and liquidity requirements for servicing GSE loans and mortgages backing Ginnie securities. The new minimum liquidity requirements will affect only nonbanks and could benefit banks and private MIs.
The financial condition of nine of Ginnie’s largest nonbank issuers is under review as part of the agency’s ongoing effort to ensure they are financially capable of withstanding the worst economic conditions.
HUD seeks condominium-related data collection approval from OMB; Ginnie plans revision of file layout for HMBS pool-level disclosures; automated set-up of electronic funds transfer accounts.
An Urban Institute study has called for uniformity among Fannie, Freddie, FHA, VA and USDA when considering student-loan debt in mortgage underwriting.