As the economic fallout from the coronavirus worsens, all eyes are on the FHA book of business. Forbearance is here but delinquencies could spike. And what about nonbank issuer/servicers? Ginnie isn’t saying much.
Home Equity Conversion Mortgage endorsements dropped last year despite a strong fourth quarter. American Advisors Group retained its top position among HECM lenders. (Includes two data charts.)
The Federal Housing Finance Agency has proposed separate capital and liquidity requirements for servicing GSE loans and mortgages backing Ginnie securities. The new minimum liquidity requirements will affect only nonbanks and could benefit banks and private MIs.
Lakeview Loan Servicing capped a years-long ascent up the ranking of Ginnie Mae servicers thanks largely to bulk MSR purchases and acquisitions through co-issuance arrangements. (Includes four data charts.)
FHA has asked lenders and servicers to review existing guidance for originating and servicing forward loans and HECMs in presidentially declared major disaster areas.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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