FHA and VA are collaborating with Ginnie Mae on new low- to moderate-income disclosures for MBS pools to help investors meet environmental, social and governance mandates.

Ginnie reduces minimum required pool size for HMBS; Ares Management to issue non-QM MBS; S&P extends comment period on triple-net lease changes; Stifel builds out agency MBS unit; commercial MBS issuers urged to consider advertising.

Ginnie Mae announced details of the changes to seasoning requirements for pooling of reperforming loans.

While Fannie Mae and Freddie Mac are the dominant outlets for eNotes, other entities are looking to boost adoption of the technology. Ginnie Mae has seen greater enthusiasm for eNotes than anticipated since launching its program in early 2021.

Thanks to rising rates and sagging home values, early buyouts from Ginnie MBS are starting to look long in the tooth. Opportunities are out there, but are not for the faint of heart. (Includes data chart.)

The agency’s earnings increased in fiscal year 2022 while its MBS issuance declined by 30.5% on an annual basis. Ginnie defended its reliance on contractors and upcoming revisions to capital requirements.

Standards involving delinquencies and in-person audits of issuers will remain on hold through at least the end of June.

In late December, Ginnie seized HECM servicing from Reverse Mortgage Funding, which had recently filed for bankruptcy. Other HECM servicers are also facing liquidity pressure, according to industry analysts.

Ginnie’s budget increases for FY 2023; Ginnie senior vice president found to have violated the Code of Federal Relations; Ginnie aligns eNote standards with GSEs; industry-driven FHA loss-mitigation proposals include some potential changes to Ginnie’s standards.

The 2017 revisions to Basel III may impact the capital treatment of securitizations, but not before 2025.