Ginnie Mae's request for comment on proposed changes to pooling requirements for higher-risk VA cash-out refinance loans is generating mixed views from stakeholders.
The purchase-mortgage and refinance sectors saw nearly identical gains in Ginnie volume last month, with most of the refi increase in rate-term transactions.
FHA delinquency rates were down nearly 17 basis points between March and April, according to the Inside FHA/VA Lending database. The Mortgage Bankers Association’s delinquency survey reported a 28-bp increase in FHA delinquencies in the first quarter of 2019.
The trade group has asked FHFA to standardize and delay implementation of the redesigned standard loan application form, saying lenders might not be ready.
Entities are prohibited by the Internal Revenue Service from using their own employer identification number to request additional EINs required for Ginnie Mae custom pools.
Reports from the Congressional Budget Office and the Urban Institute analyze various ways to lower the government’s cost of running and maintaining the Home Equity Mortgage Program for cash-strapped, equity-rich seniors.
Average FHA and VA credit scores declined for both purchase and refi loans pooled into Ginnie Mae MBS in the first quarter. Wholesale-broker production gained a larger share of the market.
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