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.
Looser pooling requirements for delivering reperforming loans to Ginnie; FHA revises policy handbook; FHA updates instructions for use of GSE model forms; FHA hiring; VA revises various forms; VA offers loan review API; CHLA calls for permanent PTAP; RHS proposes loosening loss-mitigation standards.
If the largest servicer of HECMs couldn’t handle the financial burden posed by mandatory buyouts of the loans, what hope is there for others? FHA is being urged to make changes to HECM policies. (Includes data chart.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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