Home Equity Conversion Mortgage endorsements dropped last year despite a strong fourth quarter. American Advisors Group retained its top position among HECM lenders. (Includes two data charts.)
Community lenders have requested Congress to provide Ginnie with more flexibility to carry out independent contracting, offer more competitive pay and look into offering an option to issuers seeking advances.
Ginnie Mae has begun the long process of transitioning to loan-level functionalities on its MBS platform to enhance its risk management capabilities and transform its securitization process.
Legislation requiring FHA to identify policies and procedures that might be barriers to insuring home mortgages of less than $70,000 passed the House of Representatives this week by voice vote.
Some 89% of default servicers expect foreclosures and real estate-owned inventories on government-insured loans to rise even though there is no major economic recession or downturn in the housing market.
Issuance of VA cash-out refis with high loan-to-value ratios could drop 50% this year due to pooling restrictions imposed by Ginnie in November. VA’s lower-LTV cash-out tiers are expected to pick up the slack.