Changes to the Ginnie Mae program were included among 35 priority recommendations for fiscal 2024 from the Department of Housing and Urban Development’s Office of Inspector General.

Securitization rates increased for GSE-eligible loans, government-insured mortgages and non-agency mortgages. While bank demand for jumbos is declining, the vast majority of the loans don’t go into MBS. (Includes data table.)

Finding a replacement, though, is going to be a tall order given that Ginnie Mae has pay restrictions.

Both assets and liabilities at Ginnie Mae jumped when the agency took over HECMs from the failed Reverse Mortgage Funding. Still, Ginnie extended a streak of increasing cash on hand.

FDIC member suggests delaying capital requirements; Ginnie strengthens reporting requirements for nonbanks; confusion on Mr. Cooper’s reporting to Ginnie MBS investors; GSEs prep green disclosures; LendingPoint securitizations on watch for downgrade amid servicing issue.

The early closing option on multiclass transactions will help to create more demand for Ginnie’s MBS, according to former Ginnie President Ted Tozer.

The counterparty risks that nonbanks pose to Ginnie Mae are among the Department of Housing and Urban Development’s top management challenges, according to HUD’s IG.

Mortgage industry trade groups continue to pressure the Biden administration to intervene in the MBS market to help struggling homebuyers overcome high interest rates and low supply.

HUD IG launches inquiry into Ginnie’s handling of Reverse Mortgage Funding’s bankruptcy; DBRS revises rating criteria for commercial MBS; WeWork exposure in commercial MBS; another record profit for Farmer Mac; ETF targets newer agency MBS.

Nearly 90% of loan liquidations in Ginnie MBS resulted from borrower payoffs in the third quarter, with most of them linked to MBS issued in 2020 and 2021.