The largest bank holder of agency MBS at Sept. 30? That would be Bank of America at $422.1 billion.

“This program will facilitate much-needed liquidity for issuers while improving the stability of the government-backed reverse mortgage market,” said Sam Valverde, Ginnie’s acting president.

Payoffs accounted for 89.1% of total loan liquidations from Ginnie MBS in the third quarter.

CHLA acknowledges that the shift at Ginnie will require additional funding for the agency.

Deliveries of refinances to the government-sponsored enterprises jumped from $9.37 billion in September to $15.59 billion in October.

While the Fed hasn’t formally announced any intention to sell its MBS holdings in the short term, many market participants expect it to happen at some point in the future.

During Trump’s entire first term, Ginnie didn’t have a permanent president.

Prior to the second quarter of 2024, lenders participating in the MBA survey posted losses, on average, for eight consecutive quarters.

The REIT and Cherry Hill Mortgage Management, the external manager owned by Stanley Middleman, disagree about whether CHMI should pay an $18.4 million fee to terminate the external management agreement.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” said Federal Reserve Chair Jerome Powell.