Acting Ginnie Mae President Michael Bright confirmed the resurgence of inappropriate streamline refinancing in securitization pools, promising a crackdown…
Rob Zimmer, a former Freddie Mac executive: “Republicans run this town, obviously, and there is no way they want to be identified as the party of taxpayer bailouts for large financial institutions.”
The growing reliance on nonbanks could pose a risk to the government housing agencies, according to a recent study by the Urban Institute’s Housing Policy Center. Just four years ago, banks originated 70 percent of new mortgages, the researchers noted. But in 2017 nonbanks are originating 60 percent of all new mortgages and 76 percent of loans destined to be securitized by Ginnie Mae. UI called...