Most categories of loan withdrawals from Ginnie MBS pools saw declining activity in the fourth quarter. But repurchases of delinquent loans, especially FHA, were up. (Includes two data tables.)
Changes to the Ginnie Mae program were included among 35 priority recommendations for fiscal 2024 from the Department of Housing and Urban Development’s Office of Inspector General.
Securitization rates increased for GSE-eligible loans, government-insured mortgages and non-agency mortgages. While bank demand for jumbos is declining, the vast majority of the loans don’t go into MBS. (Includes data table.)
Both assets and liabilities at Ginnie Mae jumped when the agency took over HECMs from the failed Reverse Mortgage Funding. Still, Ginnie extended a streak of increasing cash on hand.
FDIC member suggests delaying capital requirements; Ginnie strengthens reporting requirements for nonbanks; confusion on Mr. Cooper’s reporting to Ginnie MBS investors; GSEs prep green disclosures; LendingPoint securitizations on watch for downgrade amid servicing issue.
The counterparty risks that nonbanks pose to Ginnie Mae are among the Department of Housing and Urban Development’s top management challenges, according to HUD’s IG.
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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