The Structured Finance Industry Group is backing an FHA proposal to revise its annual loan-level certifications and defect taxonomy and a Ginnie Mae proposal on high-risk cash-out refinance loans and erratic prepayment speeds.
Modernization of its mortgage securitization platform, compliance and counterparty risk will be the focus of Ginnie Mae’s 2019 Summit next week. Nearly 800 industry stakeholders are expected to attend.
Ginnie Mae’s latest guidance raising the minimum servicing spread will have little impact because most servicers already retain well above the minimum requirement, according to analysts with Keefe, Bruyette & Woods.
Ginnie Mae will not be able to conform its pooling requirements to the VA interim final rule on cash-out refinancing because doing so would be contrary to the provisions of the Dodd-Frank reform act, the agency noted.