Ginnie Mae/FHA

Browse articles from IMFnews related to Ginnie Mae/FHA.

July 19, 2018 - IMFnews

MIAC Offering $2.1 Billion of GSE and Ginnie MSRs. Larger Deals Pending?

Meanwhile, several large MSR packages are currently out for bid.

July 19, 2018 - IMFnews

The Mortgage Industry May Have a DACA Problem. FHA Says Don't Make Loans to Illegals

A HUD spokesman told this news organization that “non-U.S. citizens without lawful residency in the U.S. are not eligible for FHA-insured mortgages.”

July 19, 2018 - IMFnews

Strong Purchase Market in 2Q18 Buoys Mortgage Insurance Firms

FHA officials have fretted about rising DTI ratios for some time…

July 17, 2018 - IMFnews

Short Takes: The Slow Fade of Banks Continues / False Claims Act Relief on the Way? / A Bank Advertising Mortgages on National TV / The Next Move for Bob Ryan of the FHFA? / Fannie Elects a New Director with a Blockchain Background

Most of the ads we see tend to come from nonbanks such as Quicken, loanDepot and CashCall…

July 17, 2018 - IMFnews

Still Festering: the VA IRRRL ‘Orphan’ Loan Mess

“We want to get more bidders involved,” said MBA’s Pete Mills…

July 16, 2018 - IMFnews

High DTIs and Other Concerns at FHA Give Way to Weekly ‘Triage’ Meetings

Among FHA loans endorsed in April and May, only 41.9 percent were at or below the benchmark DTI test for qualified mortgages, which is 43.0 percent.

July 13, 2018 - IMFnews

Short Takes: Administrative Reform of the GSEs / Opinion on Government Guarantee / VA Lenders Could Close Over ‘Orphan’ Mess / End of LIBOR a ‘Certainty’

If Congress is unable to pass housing finance reform, Steven Mnuchin, secretary of the Treasury Department, said on Thursday that the Treasury will “look at administrative options.”

July 12, 2018 - IMFnews

Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…

July 11, 2018 - IMFnews

Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage

Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...

July 11, 2018 - IMFnews

New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority

FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…

July 9, 2018 - IMFnews

Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.

July 9, 2018 - IMFnews

Phoenix Capital Selling Fannie/Ginnie Servicing Package

A few weeks back, Phoenix Capital was in the market with a flow MSR offering that carried a maximum size of $540 million…

July 9, 2018 - IMFnews

Agencies Leaning More on the ‘QM Patch’

The share of high-DTI loans has continued to go up this year…

July 5, 2018 - IMFnews

Short Takes: Megabank Bidding on VA IRRRLs / HUD Didn’t Fix the Mess / Blame the Dodd-Frank Reform Act / Applies to REMICs Only / JPM Remains the FHLB Advance King

Needless to say, the VA IRRRL issue is complicated...

July 5, 2018 - IMFnews

Trump Plan Calls for Moving USDA Housing Programs to HUD

Rep. Kenneth Lucas, R-KY, worried that rural communities face challenges that are far different than those faced by typical FHA or VA homebuyers…

July 2, 2018 - IMFnews

Rising Rates Take a Bite out of FHA Lending

Fairway Independent Mortgage ranked first among all FHA purchase lenders with $880.8 million in 1Q18...

June 29, 2018 - IMFnews

HUD Secretary Carson Tells Lawmakers Final Condo Rules Should be Out in September

HUD Secretary Ben Carson has acknowledged the importance of FHA condo rules, particularly for millennials…

June 29, 2018 - IMFnews

The VA IRRRL ‘Orphan’ Loan Tally: A $500 Million Mess?

Ginnie Mae: “We are glad to work with industry participants to try to find workable solutions allowable by law.”

June 29, 2018 - IMFnews

Nonbanks Increasingly Taking Over Agency MBS Production

The tally: nonbanks grew their GSE business by 1.5 percent during the first five months of the year. Banks retrenched by 16.2 percent…

June 28, 2018 - IMFnews

Carson: HUD is Examining Policies that Go Beyond FHA’s Core Mission

In April 2018, more than 24 percent of FHA homebuyers left the closing the table with debt-to-income ratios at or above 50 percent, up from 20 percent from the same period last year.

June 27, 2018 - IMFnews

Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down

FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."

June 27, 2018 - IMFnews

A ‘Scratch and Dent’ Market Develops for VA ‘Orphan’ Loans

Some warehouse lenders are nervous about the VA ‘orphan loan’ mess as well, sources told Inside Mortgage Finance…

June 25, 2018 - IMFnews

FHA Officials Raise Concerns about Rising DTI Ratios, Risk Layering

At the same time, there has been an increase in the share of loans with downpayment assistance…

June 25, 2018 - IMFnews

New York Fed: CFPB Oversight Doesn’t Reduce Mortgage Lending

Fed researchers examined data before and after July 2011, when the CFPB began operation…

June 22, 2018 - IMFnews

Securitization Rate Holds Steady in Early 2018, but GSEs Lost Market Share

Mortgage lenders started diverting high-balance GSE-eligible loans into non-agency MBS last year…

June 22, 2018 - IMFnews

As Ginnie’s Book of Business Grows Even Larger, Agency Moves to Ensure Issuer Liquidity

The possibility of issuer failure is a continuing concern at Ginnie Mae…

June 21, 2018 - IMFnews

Short Takes: Sounds Logical, Right? / Warning: More Mortgage M&A Ahead / Fannie Warns about Cost-Cutting / Ginnie Wants to Know… / loanDepot Gets a Chief Innovation Officer /

When it comes to counter-party risk, Ginnie Mae isn't messing around...

June 20, 2018 - IMFnews

Incenter and MIAC Out With Bulk MSR Auctions

The delinquencies on the MIAC package total 5.3 percent…

June 19, 2018 - IMFnews

Ginnie Rolls Out New Metric for Monitoring Issuer Performance

The announcement follows recent administrative actions against three VA lenders that were penalized for cherry picking and refinancing unseasoned loans…

June 18, 2018 - IMFnews

HECM Originations Spiked in 1Q18. (That’s Not a Misprint)

Reverse production increased 18.5 percent when measured against 1Q17.

June 15, 2018 - IMFnews

MBS Outstanding on a Steady Growth Track. Ginnie MBS Balance: $1.83 Trillion

Year over year, MBS outstanding grew by 4.8 percent, according to a new tally from Inside MBS & ABS…

June 14, 2018 - IMFnews

Don’t Look Now but Ginnie Servicing Prices are the Best They’ve Been All Decade

Servicing brokers such as Mark Garland, Steve Harris and Tom Piercy are seeing new entrants to the MSR-buying market…

June 14, 2018 - IMFnews

MSR Market Heats Up, New Auctions from Phoenix, MIAC

Bank buyers of MSRs favor packages that are at least $2 billion in size…

June 14, 2018 - IMFnews

Jumbo Mortgage Production Down Sharply in First Quarter

Wells Fargo ranked first among non-agency jumbo originators, followed by Chase and Bank of America…

June 11, 2018 - IMFnews

Short Takes: Celebrity Wants to be a Player in Mortgage M&A / Commercial Bank Seeks Mortgage Company / Garrett on LO Pay / Genworth Sale Clears a Hurdle / Wells Fargo LO Bolts for Nonbank

Consultant Joe Garrett: "Salesmen don’t get paid less just because the company didn’t do well..."

June 8, 2018 - IMFnews

On the Rise Again: Agency Single-Family MBS Issuance

All three agencies saw gains from April volume with Fannie posting the biggest increase…


With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

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