Advanced Search

Volume 11 - Number 3

February 9, 2018

Downloads Available: VA Lenders with Highest Share of IRRRL: 9M17


Ginnie Targets Issuers Responsible For Rapidly Prepaying VA Loans

Ginnie Mae this week warned nine VA lenders suspected of engaging in loan churning to each develop a plan to slow the rapid pace of prepayments they have triggered in the agency’s securitized loan pools. According to Ginnie, the issuers were directed individually to deliver correction action plans containing measures that could be deployed immediately to bring prepayment speeds in line with market peers. The agency told issuers they would be barred from multi-issuer pools if they do not come up with a plan. Participation would be allowed only in the agency’s custom pools. The latest action builds off the Ginnie Mae/VA Loan Churn Task Force, which has been working since September to resolve the churning problem. “We have an obligation to take necessary measures to prevent the lending practices of a few from impairing the performance of our multi-issuer securities, and thus raising the ... [ Chart ]

Subscribers to Inside FHA/VA Lending have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

This biweekly resource helps mortgage executives grow and manage their FHA business.

 

Pay-Per-View

You can purchase this article for $230.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

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.

vote to see results