An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.
At the end of the year, nonbanks will be required to meet new risk-based capital requirements at Ginnie Mae. There’s some speculation that the Trump administration could reverse the rule.
Valverde leaving Ginnie; Cherry Hill ditches Middleman; mortgage rate futures planned; strong master servicer ranking for Computershare; new ETF with MBS; SFA appoints new global head of advocacy.
Loan removals from Ginnie pools was led by borrower payoffs, which accounted for 89.1% of total liquidations in the third quarter. (Includes two data tables.)
Ginnie could face a leadership gap if Acting President Sam Valverde is asked to leave before a permanent president is in place. The agency is currently without a chief operating officer as well.
Issuers that show strong results from MSR hedging will receive relief from pending capital requirements. The Community Home Lenders of America said the relief will reduce risks to issuers and Ginnie.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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