President Biden’s planned nomination of Alanna McCargo to serve as Ginnie Mae president received widespread support from the industry.

Ginnie extends certain COVID-related exemptions; VA introduces new API; FHA upgrades its tech platform; FHA to host session for nonprofits that want to bid on distressed properties; FHA announces lender recertification training session; and NAR says student debt dampening homebuying among millennials.

In comment letters already submitted, mortgage servicers and credit unions warned that proposed capital requirements could force some entities out of the Ginnie market and drive up the costs of loans.

Investors in Ginnie MBS will soon receive new pool-level data as part of disclosures regarding environmental, social and governance factors. (Includes data chart.)

According to Ted Tozer, former Ginnie Mae president, the industry was warned ahead of time by the government guarantor of plans to tighten financial requirements for single-family MBS issuers.

The Appropriations Committee is expected to vote today on HUD's FY 2022 budget.

Outstanding issues include Ginnie Mae's staffing-related challenges and the need to improve IT management.

The government guarantor said AI will soon be embedded more deeply into Ginnie Mae’s processes.

The share of residential mortgages in forbearance decreased for the ninth straight week to 4.47%. Overall, 2.23 million homeowners remain in forbearance, according to the Mortgage Bankers Association.

Ginnie's dive into blockchain technology is an independent initiative and will not impact FHA/VA, the agency promised.