Ginnie Mae

The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

PHH Corp.'s net loss grew in the third quarter as the company took a hit from the costs of its transformation to being a subservicer and portfolio retention originator.

To protect veterans from predatory lending practices, Ginnie Mae and the Department of Veterans Affairs should remove lenders' financial incentive for originating Interest Rate Reduction Refinance Loans.

Ginnie Mae and the Department of Veterans Affairs have described in more detail the VA loan refinancing practices they will crack down on to eliminate a long-running churning concern.

Ginnie Mae mortgage-backed securities issuers can aggregate their portfolio's exposure to areas hit by the three recent hurricanes to qualify for its disaster relief program.

The president and founder of a now-defunct East Falmouth, Mass., mortgage company pleaded guilty to charges that he defrauded the federal government out of about $2.5 million.

Hurricane Irma will have more of an impact on Ginnie Mae securities than Harvey or Maria, a recent analysis by the government agency shows.

The majority of borrowers impacted by Hurricane Harvey have a significant amount of equity, while many in Hurricane Irma disaster areas have limited or negative equity, according to Black Knight Financial Services.

Ginnie Mae will more closely examine liquidity at all issuers in response to complaints by the HUD inspector general that it would be vulnerable to defaults at nonbanks it does business with.