Ginnie Mae Digital Collateral Director Lynne Chandler spoke last week during a webinar co-sponsored by Falcon Capital Advisors.

The Mortgage Industry Standards Maintenance Organization backed Ginnie’s updates to the digital collateral program.

Ginnie and FHFA are working together to set capital and liquidity requirements for nonbanks. Separately, Ginnie is working to allow for changes at the loan level and FHFA is considering reforms involving the Federal Home Loan Banks.

Issuing a non-agency MBS isn’t cheap; trade groups push for data, timeline if GSEs change credit scoring models; Ginnie reiterates its buyout policy.

Ginnie Mae President Alanna McCargo wants small banks, credit unions and community development financial institutions to have access to the Ginnie securitization program.

Nonbanks will need to provide more details about how they value MSRs as Ginnie works on its new capital rules. The good news: MSRs are worth a lot more these days.

Loan repurchases from Ginnie MBS in the first quarter of 2022 neared pre-pandemic levels as delinquency rates declined. Loan removal trends vary among the top servicers. (Includes two data charts.)

Ginnie hopes to align, to the extent possible, its revised capital requirements for seller/servicers with FHFA’s standards. Industry participants are pushing for uniformity that isn’t too stringent.

Experts compare today’s bond market to the bearish days of 1994, predicting a recession in the fall. But better times are coming. Maybe.

The reputation of being a safe, liquid asset adds about 47 basis points to the “convenience premium” of agency MBS over investment grade bonds, according to the National Bureau of Economic Research.