Ginnie Mae

As regulators move forward with policy changes designed to curb so-called refinance churning of Department of Veterans Affairs-insured mortgages, concerns have surfaced about the fate of loans originated during the transition period.

Michael Bright co-wrote a paper in 2016 that envisioned making the agency a backstop for the housing finance system, but appeared to distance himself from the proposal at his confirmation hearing.

Ginnie Mae is looking to start a pilot program to securitize digital mortgages as early as 2019, but issuers would not be able to commingle loans using traditional paper files in those deals.

New securitizations backed by reverse mortgages are now at a low not seen in two years, signaling that higher volumes seen in recent months may be tapering off.

Freedom Mortgage is being punished by a government-owned mortgage guarantor amid concerns that the Mount Laurel, N.J.-based company is helping to enable unnecessary refinances of veterans' loans.

The Ginnie Mae 2020 report coming out this summer will reveal the path the agency is taking toward working with digital mortgages, an agency executive said at an industry conference.

President Trump has nominated Michael Bright, the current acting president and chief operating officer of Ginnie Mae, to head the agency full time.

The Mortgage Bankers Association is calling for Ginnie Mae, states, the Internal Revenue Service and other government agencies to overcome remaining digital mortgage challenges.

Situs subsidiary MountainView Financial Solutions is brokering a $6.1 billion package of government-sponsored enterprise and Ginnie Mae servicing rights.

Two lenders have been punished by Ginnie Mae amid its concern that they enabled costly rapid refinances of veterans' home loans.