Refinance business held up better than the purchase market in February, and a handful of issuers actually increased their Ginnie MBS activity. (Includes two data charts.)
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FHA is proposing updating its “claims without conveyance of title” program to maximize recoveries from distressed assets sold through the program.
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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.)
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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.
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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.
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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.
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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.
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