The amount of Ginnie Mae servicing outstanding increased by 1.9% in the fourth quarter. On an annual basis, servicing volume was up 8.2%. Defaults on loans in Ginnie MBS are also rising, particularly for FHA loans. (Includes four data tables.)
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Barbara Cooper-Jones, the outgoing senior vice president of Ginnie’s Office of Enterprise Data & Technology Solutions, is widely credited with helping to modernize the agency’s technology platform.
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HUD Secretary Marcia Fudge last week indicated she’d be willing to revisit the FHA mortgage insurance policy that requires borrowers to pay premiums for the life of the loan.
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Ginnie Mae is evaluating a new security backed by FHA home equity conversion loans that have reached balances above 98% of their maximum claim amounts.
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The Mortgage Bankers Association has expressed support for FHA’s effort to update its housing rehabilitation loan program as one way to address housing supply challenges.
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Ten Democratic lawmakers, led by Senate Banking, Housing and Urban Affairs Committee Chair Sherrod Brown, want HUD and the CFPB to investigate Navy Federal Credit Union over fair lending concerns.
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The Department of Housing and Urban Development watchdog in its fiscal 2024 priority recommendation report had 819 open recommendations for the agency.
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Former FHA Commissioner David Stevens dies at 66; NAAHL names Sarah Brundage CEO; Ginnie hosts state housing agencies at roundtable; Ginnie files motion to dismiss TCB lawsuit; OCC to host appraisal bias hearing; and other news.
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Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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