Ginnie Mae last week proposed a new pool type to allow repooling of home equity conversion mortgages that have reached their buyout limit. Comments on the HMBS 2.0 term sheet are due July 31.
FHA Commissioner Julia Gordon and Ginnie Mae Senior Vice President of Capital Markets John Getchis spoke during a recent Ginnie Latin America Roundtable in Washington, DC.
The volume of FHA loans securitized into Ginnie mortgage-backed securities grew 20.5% between March and April, to $18.39 billion. VA loan production sent to Ginnie increased at an even higher rate. (Includes two data charts.)
Loan removals from Ginnie Mae MBS fell to their lowest point in at least four years as payoffs, defaults and loss mitigation all ebbed in the first quarter of 2023. (Includes data chart.)
The Community Home Lenders of America asked leaders of the congressional appropriations committees to fully fund FHA’s and Ginnie Mae’s fiscal 2024 budget requests for salaries and administrative expenses.
Coordination with FHA and the VA has been instrumental in helping Ginnie Mae implement its environmental, social and governance mortgage-backed securities initiative.
Ginnie Mae has reduced the required minimum size for mortgage-backed securities pools with home-equity conversion mortgages from $1.0 million to $250,000.
One of the keys for lenders facing financial difficulties is to communicate early and often with Ginnie Mae, according to the agency’s chief risk officer.
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