Ginnie Mae

Some of the points in last week's Financial Stability Oversight Council report on mortgage servicing overstate potential risk posed by IMBs, writes the Executive Director of the Community Home Lenders of America.

Also, Hometap boosts capital markets unit with Wells Fargo alum, while Planet Home, A&D Mortgage, National MI and Mobility Market Intelligence all find new chief financial officers.

McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.

Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.

The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.

McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.

Banks and other private lenders could help ease the liquidity crisis facing some companies that service Ginnie Mae mortgages, but are currently prevented from doing so by the agency's rules. A simple fix would benefit everyone involved.

The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.

The Department of Housing and Urban Development agency warned in an online notice that issuers with prepayments exceeding certain limits could face sanctions.

KBRA recently assigned low-end investment grade designations to Freedom Mortgage and Pennymac transactions that involve interests in Ginnie Mae mortgage servicing rights.

The government mortgage-backed securities guarantor needs data breaches reported within a certain period of time and has specific instructions for subservicers.

The prepayment metric on the single-family issuer operational performance profile had been displaying outdated information.

Separately, the agency said it could develop a new type of reverse mortgage securitization, and another RMF development that could affect the bank emerged.

The agency reconfirmed the new nonbank capital rule won't become effective until late next year after inadvertently publishing an update with an earlier date.

With a tough winter predicted for lenders, servicers may struggle making timely principal and interest payments to investors, industry stakeholders warn.

A proposed reduction in the amount of overall discretionary spending amounts would hamper both agencies' ability to fulfill their affordable-homeownership missions, the consortium of housing industry advocates said.

New and proposed capital rules for some depositories and nonbanks could change the roles the various institutions play.

The reports that will be due for certain months starting next year will add to Ginnie Mae's growing oversight of nonbank mortgage-backed securities issuers.

The Department of Housing and Urban Development's inspector general notes soaring inflation and a rapid increase in interest rates as factors negatively impacting nonbanks and heightening risk for the government guarantor.

Policymakers are all too quick to categorize IMBs as financially risky institutions; making them easy targets for stricter - and unnecessary - federal oversight and regulatory efforts, Stevens and Olson argue.