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Volume 2014 - Number 40

October 24, 2014

Ginnie Updates Issuer Eligibility; Fannie and Freddie Continue With Do-It-Yourself Reform

Fannie Mae, Freddie Mac and Ginnie Mae have been around for decades and they dominate the residential MBS market, but the agencies are not standing still. Pushed by their federal conservator, Fannie and Freddie are rebuilding their securitization infrastructure and trying to reinvent how they do business with mortgage sellers. At the annual convention of the Mortgage Bankers Association this week, the Federal Housing Finance Agency announced an agreement in principle on changes to the representations-and-warranties framework used by the government-sponsored enterprises. Ginnie officials disclosed new issuer eligibility standards and performance evaluations. ďGSE reform does not mean...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

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.

33%

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

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%