Sam Valverde, acting president of Ginnie Mae, noted that Ginnie and the Department of Veterans Affairs have policies in place to prevent refis that don’t benefit borrowers and they will continue to watch for “abnormal” refi activity.
The REIT is off slightly from its pace in the second quarter. However, executives are optimistic that rising product demand and bank partnerships should continue to spur growth.
The average estimated guarantee fee on Freddie’s new single-family business in the third quarter was 57 basis points, up 3 bps from the second quarter.
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