Ginnie Mae’s latest efforts to rein in serial VA refinancing and rapid prepayments in mortgage-backed securities pools augur additional changes to pooling and refi requirements at Ginnie and the Department of Veterans Affairs, analysts said.
The Department of Housing and Urban Affairs plans to act on two new rules in 2018 relating to allowable fees and charges on VA loans as well as the type of loans that are “qualified mortgages.”
Wintrust Financial Corp. has announced an agreement to purchase certain assets and assume certain liabilities of iFreedom Direct Corp., which originates VA-backed loans as Veterans First Mortgage.
While combined GSE servicing still accounted for a hefty 44.9 percent of single-family mortgages, it has continued to drift lower over the course of 2017…
New pooling restrictions announced last week by Ginnie Mae to curb churning and prepayment speed spikes are likely a precursor to future changes in pooling and refinancing policies at Ginnie and the Department of Veterans Affairs, according to analysts.
It will be the 11th issuance of its type by loanDepot.
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