VA refinance activity drove much of the increase from the first to the second quarter, and the veterans' program accounted for over half of Ginnie MBS issuance during the period. (Includes four data charts.)
Ginnie MBS issuance in May was off just a whisker from April’s record, but the full impact of the recession on housing sales is yet to come. (Includes two data charts.)
HUD sought no changes in its funding request for FHA and Ginnie but has called for legislative reforms, and will seek them through the authorization, rather than the appropriations, process.
HUD inspector general was unable to sign off on HUD’s and Ginnie Mae’s 2019 financial statements due to a lack of evidence that past accounting weaknesses and issues have been satisfactorily resolved.
The financial condition of nine of Ginnie’s largest nonbank issuers is under review as part of the agency’s ongoing effort to ensure they are financially capable of withstanding the worst economic conditions.
HUD seeks condominium-related data collection approval from OMB; Ginnie plans revision of file layout for HMBS pool-level disclosures; automated set-up of electronic funds transfer accounts.
Based on FHFA’s new 2020 loan limits, VA announced guidance for deter-mining the guarantee on loans to veterans with partial entitlement while Ginnie revised its definition of “high balance” loans.
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