Ginnie Mae issuers divided their securitizations of fixed-rate single-family loans equally between Ginnie Mae I mortgage-backed securities and Ginnie Mae II MBS in 2004, according to the secondary-market agency."That is a big change," said Ginnie Mae executive vice president Michael Frenz. He noted that issuers used to place two-thirds of the single-family fixed-rated mortgages in Ginnie I's. "Now we are up to 50/50," he said. He pointed to the July 2003 decision to reduce the minimum servicing fee on Ginnie II MBS from 44 basis points to 19 bps as the "impetus" for the change in volumes. In 2004, issuers securitized $48.429 billion in single-family FRMs in Ginnie I's and $48.434 billion in Ginnie II's.
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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.
41m ago -
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