Sam Valverde, Ginnie Mae’s principal executive vice president, will serve as acting president, while Laura Kenney, senior advisor for strategic operations, will assume additional duties.

Ginnie to increase reporting requirements on defaults, loss mitigation; Fitch prepares to rate commercial PACE securitizations; loans for hotels near Disney World head into commercial MBS; FHA extends waiver tied to Ginnie multifamily MBS.

Ginnie cautioned issuers that it monitors their portfolios to ensure they are meeting acceptable risk parameters, including those related to prepayment activity.

A district court judge threw out parts of a lawsuit against Ginnie Mae for canceling Texas Capital Bank’s first-priority lien on a loan portfolio of Reverse Mortgage Funding but allowed a key challenge to go ahead.

Beginning May 13, Ginnie Mae will transition to a central application system for issuer submissions of required fidelity bond, errors and omissions insurance, and financial statements.

Officials from the secondary mortgage market believe innovations in products, policy and technology can support lenders and borrowers through a difficult housing market.

After years of lobbying by the mortgage industry, Congress gave Ginnie Mae’s budget a boost for fiscal year 2024.

Prepayments on VA loans in Ginnie MBS jumped in February and will likely remain elevated in March. It’s a recurrence of an ongoing problem for Ginnie and VA: streamlined refinance business.

Banks, the largest holders of agency MBS among investor groups, aren’t expected to be big buyers this year. Money managers helped to fill the void left by banks last year, but that might not continue into 2024.

Ginnie Mae last week announced revisions to its issuer eligibility requirements to participate in its manufactured housing MBS program.