Ginnie Mae has started providing loan-level data on newly issued single-family MBS and soon investors will be able to receive monthly updates on the performance of the underlying loans.
“Improving our securities disclosures helps us attract global capital,” said Ginnie Mae president Ted Tozer. “It also ensures alignment with industry best practices and allows us to more effectively meet the needs of our investors so that they can make informed investment decisions.”
On Aug. 2, Ginnie released the first loan-level data files on MBS pools issued the previous day. These files contain 36 data elements, including loan size, MSAs where the properties are located, debt-to-income ratios and credit scores.
Next, Ginnie Mae officials want to provide investors with monthly reports on the performance of the loan pools, including information on delinquencies and loan modifications. This is important for investors, “since our servicers can buy loans out of pools once a borrower misses three payments,” Tozer said.
Officials are currently reviewing Ginnie Mae servicer reports to ensure the integrity of the loan data.
The monthly August reports are slated to be released in mid-September. But “it could be postponed depending on our vetting of the data,” Tozer told NMN.
The regular disclosure of the loan-level data are part of an effort to
