Mike Fontaine, CFO of Plaza Home Mortgage, said servicers can recognize significant benefits from advance financing. “When you have a Ginnie portfolio, servicing advances can be a rather large cash drain,” he said. “If you have the ability to finance that piece of it, it will provide more liquidity.”

Chris George, CEO of CMG Financial and the current chairman of the MBA, provided an update on the effort this week at the California Mortgage Bankers Association’s western secondary market conference in San Francisco.

Boom times: Presale reports for three expanded-credit MBS were published on Monday. Meanwhile, the second-largest post-crisis deal is in the works and JPMorgan Chase is set to issue another non-QM MBS.

Currently, only state-certified appraisers can complete appraisals for FHA mortgages. One of the bills will align FHA appraiser licensing-requirements with requirements set by the government-sponsored enterprises.