GSEs Focused on HARP, New MBS Platform; Ginnie Mae Copes With New Issuer Demand
May 11, 2012
Fannie Mae and Freddie Mac reported robust activity in their expanded refinance programs for underwater borrowers, while Ginnie Mae is looking at new procedures to identify the potential new issuers that are most likely to become strong participants in its program. Freddie officials are very focused on the expanded Home Affordable Refinance Program, said Paul Mullings, senior VP for single-family sourcing at the government-sponsored enterprise. He told attendees at the Mortgage Bankers Association National Secondary Market Conference in New York this week that HARP now accounts for 26 percent of the refi loan...