The inconsistency between the scope of Ginnie Mae’s loan seasoning guidance and VA’s cash-out interim final rule may require a legislative change, according to Ginnie Mae.
New production of agency single-family MBS fell for the sixth month in a row in Febru-ary, sinking to the lowest monthly output in nearly five years. [Includes two data charts.]
Ginnie Mae is in the early stages of developing stress tests for its MBS issuers to ensure they have enough liquidity to withstand adverse economic conditions.
Approval of new MBS issuers by Ginnie Mae fell drastically in 2018. Data provided by the agency showed that only eight out of 28 applications received last year were approved. In the year before, Ginnie approved 22 out of 31 applications.
A new outline on housing-finance reform from Sen. Mike Crapo, R-ID, hands over management of the conventional mortgage market to Ginnie Mae, begging the question: Is Ginnie up to the task?
Ginnie Mae late Wednesday barred loanDepot from delivering VA single-family loans to Ginnie Mae I and multi-issuer pools apparently due to unusually high prepayment rates in its VA loan portfolio.
Acting Ginnie Mae President Michael Bright handed in his resignation this week, creating yet another vacancy in the Department of Housing and Urban Development hierarchy, and sparking discussions on what his departure might mean for reform of Fannie Mae and Freddie Mac.
Ginnie Mae again failed to correct an accounting flaw in its financial statements, prompting the Department of Housing and Ur-ban Development to withhold its opinion on the agency’s 2018 financial statement for the fifth consecutive year.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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