Ginnie Mae/FHA

Browse articles from IMFnews related to Ginnie Mae/FHA.

November 16, 2018 - IMFnews

What We’re Hearing: GNMA’s Michael Bright is Taking No Chances / Ginnie Servicing is Now Worth… / Bright and the FHFA Job / The Bigger You Are… / 47 Percent of Lenders Eyeing the Non-QM Market? / Radian Gets a New Controller

A new poll being conducted by Inside Mortgage Finance/IMFnews shows that 47 percent of lenders are contemplating originating non-QM mortgages in 2019...

November 16, 2018 - IMFnews

Under Michael Bright, Ginnie Mae Continues to Tighten Issuer Standards, Accountability

Ginnie said the evaluation will be “similar to those employed by credit rating agencies.”

November 16, 2018 - IMFnews

REIT MBS Holdings Grew in 3Q18. Non-Agency Product in Demand

Non-agency MBS holdings by REITs grew slightly faster than agency securities…

November 15, 2018 - IMFnews

Very Good News: MMIF Capital Ratio Improves to 2.76 Percent. As for a Cut in Premiums…

The fund's value has improved, but FHA premiums will not be cut...

November 9, 2018 - IMFnews

14 Nonbanks Received the Ginnie ‘Liquidity’ Letter. A Concern Regarding ‘Cash-out’ Moves by Owners?

The implication is that declining originations, plummeting refinancing volume and razor-tight profit margins are causing consternation at Ginnie…

November 9, 2018 - IMFnews

Agency Single-Family MBS Production Softened in October as Purchase Market Deflated

Fannie, Freddie and Ginnie issued a combined $98.03 billion of single-family MBS last month, a 5.1 percent drop from September…

November 8, 2018 - IMFnews

HUD Working on MOU to Clarify Use of False Claims Act

FHA is considering its Mortgagee Review Board as an alternative to the FCA in meting out penalties...

November 7, 2018 - IMFnews

QM Patch Expiration Could Shift More High-DTI Loans to FHA

Analysts see the expiration of the QM patch as having a lesser effect on the non-agency market and a greater impact on FHA...

November 6, 2018 - IMFnews

Ginnie Asks Top Servicers to Come up with ‘Liquidity Plan’

One observer with clients who received the letter, said: “This has spooked the horses.”

November 5, 2018 - IMFnews

Mortgage Brokers Gain Share in FHA Lending, but Lose Ground on VA

United Shore Financial Services ran the top FHA wholesale-broker program, generating $1.53 billion during the third quarter.

November 1, 2018 - IMFnews

Waterfall Unit Brings First Rated MBS Backed by Non-Agency Reverse Loans Since 2007

The deal is backed by jumbo reverse loans with a total unpaid principal balance of $571.8 million…

October 31, 2018 - IMFnews

MIAC, Phoenix Capital Out with New MSR Offerings

According to the offering circular, the portfolio is top-heavy with Ginnie product...

October 30, 2018 - IMFnews

A Possible Problem for Ginnie: Fannie/Freddie MBS Getting an Explicit Guarantee from Uncle

Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…

October 29, 2018 - IMFnews

Short Takes: Bill Dallas Speaks / FoA’s New Reverse Product / A Blow-Out Earnings Number from Freddie? / Fannie? / No Permanent President for Ginnie, Still / Former FHLB Chicago Exec Named President of CU Mortgage Firm

On Wednesday, Freddie Mac will release third-quarter results...

October 29, 2018 - IMFnews

MSR Transfers Boomed in 3Q18, Aided by Franklin American Sale

The top five bulk MSR transfers were led by Franklin American, followed by Stearns, loanDepot, Flagstar and United Shore/United Wholesale Mortgage…

October 26, 2018 - IMFnews

Incenter Announces Large MSR Auction

Loans from California account for the largest chunk of receivables at 18.3 percent...

October 24, 2018 - IMFnews

Short Takes: Honey, If You Put Any More Money Into that Mortgage Company… / Citadel (Officially) Branches Out into SBCL / $400 Million Next Year? / Fannie Mae Sees Ghost Companies / When Bullying Might Work (Trump and Powell)

Fannie Mae continues to mine for non-existent companies that might show up on the consumer loan applications submitted to its seller-servicers...

October 24, 2018 - IMFnews

Trouble Brewing? FHA and VA Delinquencies on the Rise

No wonder Ginnie Mae Acting President Michael Bright is nervous: Short-term default rates showed the biggest increases…

October 24, 2018 - IMFnews

Ginnie Mae EVP Maren Kasper: Prepays are Still a Big Problem

A growing concern that foreign investors might avoid Ginnie MBS?

October 22, 2018 - IMFnews

Short Takes: HUD Shows its Enforcement Stripes / Otting, the Next (Interim) FHFA Director? / Sprout Mortgage Feeds Verus Nonagency MBS / Mayer Brown Hires CMG Attorney

Otting is Comptroller of the Currency. The speculation is that he will pull a Mick Mulvaney and wear two hats for a while…

October 22, 2018 - IMFnews

Phoenix Capital Selling Ginnie Mae Servicing Rights

Florida loans account for the largest chunk of the receivables at 13 percent...

October 22, 2018 - IMFnews

Lennar’s Mortgage Sub Settles FCA Charges with DOJ. Company Whistleblower will Receive $1.98 Million

The allegations center on loans submitted to FHA for insurance coverage from January 2006 to Dec. 31, 2011.

October 22, 2018 - IMFnews

Ginnie Mae to Require Servicer, Credit Ratings for Largest Issuers

Ginnie will soon require its largest issuers to secure servicer ratings and, in some cases, credit ratings…

October 19, 2018 - IMFnews

What We’re Hearing: One Last Criticism from Jeb Hensarling Regarding the FHFA / In Agreement on 80 Percent / Departing Fannie, Freddie Directors May Pose a Challenge / Two Major Concerns: Originations and Profit Margins / Plaza Home Wants AEs / Bill Ashmore’s New Job?

The FHFA IG says "a number" of director positions at Fannie and Freddie are set to expire: "Changes in leadership can lead to a lack of attention to internal controls..."

October 19, 2018 - IMFnews

Aging IT Systems a Major Concern for FHA, VA and USDA

FHA is running on a 40-year old IT system…

October 19, 2018 - IMFnews

The Money Source Takes Aim on Subservicing

TMS President Ali Vafai said there’s a huge “void” of subservicers that can effectively handle high-touch product, especially Ginnie Mae receivables.

October 18, 2018 - IMFnews

Agency MSR Market Grew Modestly in 3Q18 as Nonbanks Continued Their March Forward

Fun fact: Nonbanks went over the 60.0 percent threshold in Ginnie Mae market share during the third quarter.

October 17, 2018 - IMFnews

Ginnie Mae Terminates 360 Mortgage Group from Program

As IMFnews went to press, multiple telephone messages and emails to 360 Mortgage had not been returned.

October 16, 2018 - IMFnews

FHA Market Grows Riskier in 2018

FHA debt-to-income ratios are also deteriorating…

October 15, 2018 - IMFnews

Incenter, Phoenix Capital Out with New MSR Auction Notices

IMA described the selling originator as an “independent mortgage banker with strong net worth...

October 15, 2018 - IMFnews

Correspondent Platforms Gain Share in 3Q18 Agency Market

The correspondent share of the market rose to 39.5 percent, the highest it has been in years...

October 10, 2018 - IMFnews

Short Takes: Michael Bright, the Next FHFA Director? / Waiting on Senate Confirmation (Still) / A Former GSE Exec and The Play Set Scandal / Sears and Fairholme / HSBC Settles with DOJ / A New Hire at CMG Financial

HSBC will pay $765 million to settle charges brought by the Department of Justice...

October 9, 2018 - IMFnews

Senate Still has Time to Enact VA ‘Orphan’ Loan Bill

The House bill is currently at the Senate desk, awaiting nods from Senate Banking Committee Chairman Mike Crapo, and Ranking Minority Member Sherrod Brown…

October 8, 2018 - IMFnews

Short Takes: Waiting on a Client / Layoffs at Eli Global? / Bonuses: Based on Volume or Profits? / New Penn Rolls Out New Non-QM Loan / NewDay Hires a Former Governor

One source familiar with Eli Global’s mortgage operations said layoffs have occurred at the company’s mortgage unit...

October 8, 2018 - IMFnews

Ginnie MBS Production Down 11 Percent Through Sept. 30

Issuers pooled $19.63 billion of FHA and VA refi loans during the third quarter, down 11.6 percent from the previous period…

October 5, 2018 - IMFnews

Securitization Market Limped Through 3Q18 with Help From Agency MBS Issuance

The major driver was a 16.8 percent jump in Fannie Mae issuance…


With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

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