Ginnie Mae's request for comment on proposed changes to pooling requirements for higher-risk VA cash-out refinance loans is generating mixed views from stakeholders.
FHA delinquency rates were down nearly 17 basis points between March and April, according to the Inside FHA/VA Lending database. The Mortgage Bankers Association’s delinquency survey reported a 28-bp increase in FHA delinquencies in the first quarter of 2019.
The trade group has asked FHFA to standardize and delay implementation of the redesigned standard loan application form, saying lenders might not be ready.
Entities are prohibited by the Internal Revenue Service from using their own employer identification number to request additional EINs required for Ginnie Mae custom pools.
Reports from the Congressional Budget Office and the Urban Institute analyze various ways to lower the government’s cost of running and maintaining the Home Equity Mortgage Program for cash-strapped, equity-rich seniors.
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.