Ginnie Mae emerged victorious in a lawsuit brought by Texas Capital Bank over an extinguished lien on collateral for Reverse Mortgage Funding’s home equity conversion mortgages. TCB plans to appeal the ruling.
Joe Gormley is rumored to be leading Ginnie Mae ahead of his potential official nomination for Ginnie president; new leadership at multifamily securitization vendor putting emphasis on decentralized finance.
HECM loan issuers are uncertain of the timeline for Ginnie to implement HMBS 2.0 amid agency-wide staffing cuts, but are confident it retained some degree of primacy on the agency’s to-do list.
Three former CEOs of the GSEs this week debated the impact of federal conservatorship, what steps must be taken to safely end the oversight and what the GSEs should look like afterwards.
The Federal Housing Finance Agency in recent years has done a better job than Ginnie Mae in interagency planning for a hypothetical nonbank crisis, according to the Government Accountability Office.
Ginnie Mae increased its employee base by 25% on an annual basis in fiscal year 2024. Still, the agency is reliant on contractors, which accounted for more than 80% of Ginnie’s expenses.
The final rule will allow lenders to disburse up to 1% of FHA-endorsed multifamily construction loan proceeds before borrower-provided funds are fully exhausted.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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