MBS and MSR investor New Residential signaled that it might engage in a large stock buyback program, but so far there’s been no activity. It’s possible political considerations might be a factor.
Three names are being kicked around to head Ginnie Mae, the government’s $2 trillion MBS guarantor: Robert Couch, Clinton Jones and Joe Murin. But is something else afoot?
The agency is seeking comment on an initial draft policy guidance for accepting digitized mortgages and loan packages as underlying collateral for Ginnie MBS.
The White House plans to nominate someone to lead Ginnie Mae but given the current political turmoil in Washington, is this a pipe dream? Investors don’t seem worried about the agency, at least not yet.
Ginnie Mae, the government guarantor that backs $2 trillion in mortgage assets, still doesn’t have a permanent president even though the election took place three years ago. Will anything change?
Treasury recommends Congress authorize Ginnie Mae to provide “last position” guarantee on MBS backed by conventional and multifamily home loans as well as give it the flexibility to adjust its guarantee fee.