Joe Gormley, Ginnie Mae’s recently confirmed president, informed investors about the agency’s ongoing shift to a system that allows for loan-level transfers of mortgage servicing rights, and its efforts to improve cybersecurity and explore artificial intelligence applications.
The rising cost of credit reports has driven more lenders to seek savings through alternative reporting agencies, or by offsetting costs in other areas, said Lenders One President Justin Demola.
The metrics used to determine who’s most likely to be a first-time homebuyer vary, but lenders can assume they’re still probably around their early- to mid-thirties.
Issuers will be required to report the removal of single-family loans from Ginnie MBS one business day following the liquidation, bringing reporting requirements in line with Fannie Mae and Freddie Mac.
The Federal Reserve lowered federal funds rates for the third time this year, but its easing of fiscal policy is expected to drive only modest gains in mortgage lending with interest rates on mortgages expected to hold.