Ginnie Mae

Interest rate increases and economic concerns led the government entity to lower the required amount from $1 million to $250,000.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

In a report to Congress, the agency recommended sharing information with the Consumer Financial Protection Bureau, which also is looking more closely at servicemember mortgages.

The pushback the government insurer faced over the revised standards led it to delay deadline for implementation by a full year, to December 31, 2024

The government guarantor's securitization platform went offline on October 19 and will reemerge on October 25.

The Fed may be the big factor in the massive fluctuations seen daily in the TBA markets, but traders and credit analysts now also fear a new problem in the heretofore peaceful world of Ginnie Mae, writes the chairman of Whalen Global Advisors.

While broader counterparty rules were recently reworked in consultation with the industry, questions persist regarding one subset from the government bond insurer.

"To talk about 95% of issuers by count being compliant without recognizing that a very large number of issuers hold few MSRs is disingenuous," one industry executive told the chairman of Whalen Global Advisors.

The servicer is evaluating alternatives in light of the new rule the government bond insurer will put in place next year.

Financial downturns hit lower-wealth communities first and cause them to suffer the longest.

Ginnie Mae has constructed a perfectly counter-cyclical capital regime that would crush the government loan market if left unaltered, the chair of Whalen Global Advisors writes.

Updated counterparty requirements recently coordinated with the Federal Housing Finance Agency affect a constituency that has kept growing, albeit at a slightly slower pace, according to new mortgage-backed securities research.

A significant divergence between the FHFA and the Ginnie Mae issuer rules could greatly disrupt the secondary market — and that is precisely the outcome that now faces the mortgage industry, writes the chairman of Whalen Global Advisors.

The way the Federal Housing Administration is funded and constrained by laws, rules and other operational limitations is analogous to the FHA living in the horse-and-buggy era in an age when we are starting to see driverless cars, writes the executive director of the Community Home Lenders Association.

One of the secondary market alternatives the Federal Home Loan Banks of Chicago and Indianapolis offer has a new servicing partnership with PHH, and interest in further cultivating their community lending potential is growing.

Although forbearance exits are not yet complete, two arms of the Department of Housing and Urban Development have decided to make some temporary pandemic relief programs permanent.

HUD official Alanna McCargo takes over the top job at the government corporation, which has had a series of acting leaders since 2017.

While overall volume was down in August, it remained historically strong, particularly in the securitized market for home equity withdrawal loans made to borrowers age 62 and up.

The biggest issues facing the mortgage industry involve public policy and all of them feature a political narrative that is ill-informed and largely at odds with market realities, Whalen writes.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.