Florida, Texas, Virginia and Georgia were all relatively MI-rich, with insured loans accounting for more than 60.0% of total agency business in those states.
Mike Fontaine, CFO of Plaza Home Mortgage, said servicers can recognize significant benefits from advance financing. “When you have a Ginnie portfolio, servicing advances can be a rather large cash drain,” he said. “If you have the ability to finance that piece of it, it will provide more liquidity.”
The trade groups are calling on the Department of Housing and Urban Development to either remove FHA certifications or replace them with a straightforward lender acknowledgement of key requirements based on loan eligibility…
The robust second quarter brought year-to-date agency MBS issuance to $562.02 billion, just 1.3% below the level reached in the first six months of last year.
Once effective, the requirements of the HECM law are significant, according to Allison Schoenthal, an attorney and partner in the New York office of Hogan Lovells...
FHFA Director Mark Calabria on Bob Ryan: “Bob’s advice and counsel during my transition have been invaluable. I greatly appreciate his service at FHFA during the past five years and his role in helping ensure liquidity and funding for the nation’s housing finance system...”
How do you get out of a debt bubble? Answer: Raise taxes and cut spending, something U.S. politicians have been loath to do. Or you could print more money...
As we’ve noted before, Calabria is building a dream team of industry vets and policy experts, whose chief task likely will entail working with the Treasury Department on administrative reform…
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