In a bid to boost liquidity for issuers, especially nonbank players, Ginnie Mae by yearend will allow financing of servicing advances.

The trade group is supporting a proposal to restrict VA cash-out refinance loans in excess of 90% LTV from Ginnie Mae II security pools.

Ginnie, other agencies discuss efforts to modernize technology and business platforms to conform with the digitized, paperless mortgage market and deliver faster, efficient service.

The Senate last week passed a bill aimed at rectifying an error that prevented “orphaned” VA loans from delivery into Ginnie MBS pools.

Ginnie Mae should give way to VA if the latter implements protections substantially similar to the agency’s proposed pooling restrictions on higher-risk cash-out refinance loans, according to the Mortgage Bankers Association.

As a result of numerous inquiries, Ginnie Mae has provided additional clarity on the seasoning for VA refinances to help issuers comply with its 2018 guidance on pooling eligibility requirements. Under the Dodd-Frank reform act, to qualify for a Ginnie guarantee, a VA refi loan must have a recoupment period of 36 months and provide a net tangible benefit to the borrower. The seasoning requirement is aimed at curbing serial churning — the repeated refinancing of a loan to generate ...

The secondary mortgage market could be in for historic change in the wake of President Trump this week ordering the Treasury Department to end the conservatorships of Fannie Mae and Freddie Mac and come up with a new paradigm.

The Community Home Lenders Association this week asked Congress to increase the pay for Ginnie Mae staffers, arguing that a professional, well-trained workforce would ensure the agency “does not have any unintended incentives to reduce the number of issuers it regulates, merely because it might lack the capacity or expertise.”

Ginnie Mae’s new rule requiring servicers to maintain a minimum servicing spread of 25 basis points will have very little impact on medium and large servicers, according to analysts with Keefe, Bruyette & Woods.