The agency’s proposals for increasing the supply of capital to fund Ginnie mortgage servicing rights include advance financing for servicing and exploring non-traditional MSR ownership.
Notwithstanding improvement in the financial condition of the FHA Mutual Mortgage Insurance Fund, HUD has no plans to cut mortgage insurance premiums or drop the FHA life-of-loan policy.
Buyout may be an option though an unnecessary one in addressing VA’s IRRRL problem, according to industry participants. An analyst suggests a recoupment issue can be cured by a cash payment to the borrower.
Compliance experts are warning warehouse lenders holding eNotes of the risks they face from certain ambiguities between the Uniform Commercial Code and the Uniform Electronic Transactions Act.
It was a bravura performance for the FHA’s Mutual Mortgage Insurance Fund in fiscal 2019. The MMIF ended the year with a capital ratio of 4.8%, more than double the statutory minimum.
FHFA Director Mark Calabria: "That might be fine for a normal company, but these are companies that are in conservatorship. They’re essentially in bankruptcy.”