For nearly all of President Trump’s term, Ginnie Mae has been operating without a president, carrying on its daily business with surrogates.

Quicken Loans was the top ranked FHA producer for the year with $17.4 billion, followed by United Wholesale Mortgage ($13.1 billion) and Freedom Mortgage ($8.7 billion).

For the full year, production soared by 42.7% to $216.8 billion, also a record. The driver: Strong refinance volume driven by low interest rates.

Wade is no stranger to the Department of Housing and Urban Development...

A top Justice Department official said the memorandum of understanding gives depository institutions the confidence they need to participate in the FHA program…

January's volume represented the second-highest monthly issuance of forward-mortgage Ginnie securities on record.

Originally, there were 14 nonbank issuers that Ginnie was talking to but one was acquired by a competitor.

Fun fact: January’s new issuance was more than double the total produced in the first month of 2019.

Former FHA Commissioner Dave Stevens: “The absence of banks in FHA has been a challenge ever since the False Claims Act was used as an excessive enforcement mechanism, making it far too great a risk to participate in the program.”

After the FCA payment to Uncle Sam, JPM remained as a correspondent buyer of FHA loans but its Ginnie Mae MBS issuance volume has slipped tremendously…