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Volume 10 - Number 17

August 18, 2017

Around the Industry

Ginnie Mae’s Fiscal YTD MBS Issuances Surpass $400 Billion. A modest volume increase in monthly securitizations in July pushed Ginnie Mae’s FY 2017 overall volume past $400 billion. Ginnie reported that $1.86 trillion of its mortgage-backed securities were outstanding as of July 1, up from $1.84 trillion in June and from $1.70 trillion from the same date last year. Last month, mortgage lenders pumped a hefty $112.4 billion of single-family home loans into the MBS platforms of Fannie Mae, Freddie Mac and Ginnie Mae, according to an analysis by Inside Mortgage Finance. Circuit Courts Split on DOL Overtime Rule. The U.S. Court of Appeals for the Ninth Circuit recently held that mortgage underwriters are not “administrative employees” and, therefore, not exempt from the overtime protections of the Fair Labor Standards Act. The court’s ruling in McKeen-Chaplin v. Provident Savings Bank overturned a ...

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Poll

The year is almost 75% done. How is mortgage origination volume at your shop?

We will fund about the same as we did in 2016.
We will fund more than last year – by a little.
We will fund more than last year – by a lot.
We will fund less than last year – by a little.
We will fund less than last year – by a lot.

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