Ginnie Mae has announced that in December it will begin disclosing more comprehensive information about its securities.The agency said it will report the number and the unpaid principal balance of loans that are paid off in full, repurchased by issuers due to delinquency, or liquidated from the pool due to foreclosure. Ginnie Mae will also disclose information regarding loans that are 30, 60, or 90 or more days delinquent and include the number and unpaid principal balance of interest rate buydown loans backing its mortgage-backed securities. Ginnie Mae noted that since February 2004 it has moved from quarterly to monthly disclosures and has begun reporting the loan-to-value ratio, purpose, property type, original loan amount, and year of origination for loans backing its securities. "Our investors have been asking for more details," said Steve Ledbetter, Ginnie Mae's director of securities, policy, and research, who is leading the disclosure initiative. "We believe these enhancements will greatly increase understanding of our securities and lead to better pricing in the secondary market." Ginnie Mae can be found online at http://www.ginniemae.gov.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22