Fannie Mae had the biggest monthly gain in total production among the three agencies, which raised its share of agency MBS issuance in October two percentage points to 27.3%.
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.
Karan Kaul, a senior policy advisor at Ginnie Mae, said Ginnie and others need to analyze the various reform proposals that have been released in recent years.
“If we had a major economic downturn, I don’t know what kind of havoc we would have right now, because there’s no stability,” said Ted Tozer, a former president of Ginnie Mae.
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