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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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
7h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
10h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11