Ginnie Mae/FHA

Browse articles from IMFnews related to Ginnie Mae/FHA.

January 18, 2018 - IMFnews

The Trend is Clear: Nonbanks Poised to Have a 50 Percent Agency MSR Share

The nonbank share of agency servicing grew by 4.7 percentage points during 2017.

January 17, 2018 - IMFnews

Oh Carol! Former FHA Chief’s Plan to Restructure the Government MI Garners Mixed Reviews

Galante is a former FHA commissioner who presently serves as faculty director of the Terner Center for Housing Innovation at the University of California Berkeley. She also sits on the board of Ocwen Financial.

January 17, 2018 - IMFnews

HUD Secretary Carson Sets Up ‘Order of Succession’ at Ginnie Mae. First Up: Michael Bright

The Trump White House was slated to nominate mortgage banker David Kittle to head the agency but back in November he grew tired of waiting and withdrew his name from consideration.

January 16, 2018 - IMFnews

Short Takes: GSE Reform, Yes. Passage? No / Galton’s Return to Nonprime / Citi’s Incredibly Shrinking MSR Portfolio / Legislative Reg Relief On the Way? / English Wants Expedited Review in CFPB Appeal

GSE reform may emerge from the Senate Banking Committee, but as for final passage...

January 16, 2018 - IMFnews

Ginnie Mae MBS Program Faltered in 2017…

The agency – which still doesn’t have a permanent president – issued $443.2 billion of MBS backed by forward single-family mortgages in 2017, a 10.8 percent decline from the previous year.

January 11, 2018 - IMFnews

Agencies to Ramp Up Anti-Churning Efforts in 2018

Ginnie Mae and the Department of Veterans Affairs have announced additional measures to curb serial refinancing of VA loans. Testifying before a House Veterans Affairs subcommittee this week, officials from both agencies said the latest measures will complement guidelines Ginnie issued last year to deal with the loan churning problem.

January 10, 2018 - IMFnews

Housing Finance Reform Must Include FHA, Panelists Say

Panelists at an Urban Institute event this week concluded that there can’t be a housing finance reform discussion without including the FHA. Carol Galante, former FHA commissioner during the Obama administration, said it’s important to make sure changes to the government-sponsored enterprises don’t unintentionally impact the FHA.

January 9, 2018 - IMFnews

In the Wake of Program Changes, HECM Lending Declines in 3Q17

The origination of reverse mortgages fell by 7.3 percent on a sequential basis in the third quarter of 2017 in the wake of changes made to the program by FHA.

January 3, 2018 - IMFnews

IMA Launches First MSR Auction of the New Year

The seller will consider separate bids on the conventional and government portions…

January 3, 2018 - IMFnews

Notwithstanding Efforts to Resolve FCA Issue, Lenders Remain at Risk

Aggressive FCA enforcement and steep settlement amounts have caused some banks to exit from the FHA market.

January 3, 2018 - IMFnews

FHA Nominee Montgomery Has to Resubmit Financials. A March Seating?

Like scores of other Trump appointees, a final vote on Montgomery’s nomination as assistant secretary for Housing was not acted upon by yearend…

December 29, 2017 - IMFnews

HUD IG Anxious About Legacy Tech Systems; 87 Percent are ‘Old’

What could go wrong? For starts, FHA might not be able to pay claims…

December 29, 2017 - IMFnews

MBS Analysis: Looks Like the GSEs are Taking Market Share from FHA

Wells Fargo, Quicken, and United Wholesale Mortgage are the top three firms originating these low-downpayment loans…

December 27, 2017 - IMFnews

Correspondent Channel Gains Market Share in Government-Insured Mortgage Market

Through three quarters this year, retail originations fell 20.2 percent while brokers saw a 10.3 percent production drop and correspondent lending declined by only 1.8 percent.

December 26, 2017 - IMFnews

FHA to Update FHA Connection for New HMDA Data, Eventually

Certain temporary modifications have been made to allow lenders to submit demographic information if the currently available fields in the system match the data submitted. Otherwise, just leave the fields blank, according to the FHA.

December 21, 2017 - IMFnews

Ginnie Mae – the Fastest-Growing Component of the Agency MSR Market

While combined GSE servicing still accounted for a hefty 44.9 percent of single-family mortgages, it has continued to drift lower over the course of 2017…

December 19, 2017 - IMFnews

Short Takes: Money Source Sets its Sights on Being a $100B Servicer / RoundPoint Looks to Add Contracts / FHA Defaults Spike, Reason: Hurricanes / MIAC Selling Whole Loans / Ellington’s CFO Sets Retirement Date

Overall, The Money Source expects to hire more than 400 new team members in 2018...

December 18, 2017 - IMFnews

Ginnie’s Effort to Rein In Rapid Refis on VA Loans: More to Come, for Sure

Ginnie’s Dec. 7 memo to issuers outlines the new pooling changes, along with additional measures…

December 15, 2017 - IMFnews

Continued Growth for Agency MBS in 3Q17

The fastest-growing segment is the Ginnie Mae market…

December 12, 2017 - IMFnews

Senate Vote on FHA Nominee Could Come Before Yearend

If Montgomery garners final approval, HUD Secretary Ben Carson will begin tackling key issues, including finalizing new condominium rules, dealing with reverse mortgage losses and more…

December 11, 2017 - IMFnews

Phoenix Capital Auctioning Off Bulk MSR Package

The seller of the MSR package is looking for a final sale date of Jan. 31…

December 11, 2017 - IMFnews

VA Originations Increased by Almost 12 Percent in 3Q17; A Big Gain for Navy Fed

USAA reported a 17.0 percent sequential drop in VA lending while Navy Federal boosted production by an impressive 51.1 percent.

December 8, 2017 - IMFnews

FHA to Halt Insuring Mortgages on Homes with PACE Assessments

The PACE decision follows last month’s release of the annual audit of the Mutual Mortgage Insurance Fund, which showed a decline in economic value…

December 8, 2017 - IMFnews

FHA Unveils New Loan Limits for 2018

FHA regulations currently do not allow HECM loan limits to vary by metropolitan statistical area or county…

December 8, 2017 - IMFnews

Agency MBS Issuance Up Slightly in November. Another Big Month for Freddie

It was Freddie Mac’s second-largest month of the year...

December 7, 2017 - IMFnews

Short Takes: Not Happy with Jeb’s GSE Comments / Lame Duck or Not… / White House Leaning Toward Michael Bright / Granite Ramps Up Commercial Commitments / Dart Hires Finance VP

It's only a matter of time before the White House officially nominates acting Ginnie Mae president Michael Bright to be the permanent head of the agency...

December 7, 2017 - IMFnews

Ginnie Mae Issues New Rules to Stem Loan Churning

Acting Ginnie Mae President Michael Bright also issued a warning that expulsion from the program for “lenders who produce pools with inexplicably fast prepayment speeds” was a distinct possibility.

December 7, 2017 - IMFnews

If Rep. Hensarling Gets His Way, GSE Shareholders Would be Wiped Out

If the Texas Republican gets his way, investment firms including Pershing Square and Fairholme Funds stand to lose the millions of dollars…

December 7, 2017 - IMFnews

Purchase Mortgages Continued to Dominate in 3Q17 but Refis Gained Ground

Agency MBS data indicate that first-time buyers have been key to this year’s surge in purchase-mortgage activity...


With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.