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.
The agency’s proposals for increasing the supply of capital to fund Ginnie mortgage servicing rights include advance financing for servicing and exploring non-traditional MSR ownership.
The U.S. Senate approved fiscal 2020 spending packages for government agencies. Some $400 billion has been set aside for new guarantees on FHA single-family mortgages.
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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