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    It’s been nearly three years since Ocwen Financial agreed to offer $2 billion in consumer relief and pay up to $127.3 million to settle a Consumer Financial Protection Bureau investigation into its servicing practices. But it looks like Ocwen may not be done with the CFPB yet, as the company revealed Thursday that the bureau is currently investigating the company’s mortgage servicing practices, which could lead to a fine and/or other disciplinary action. Click the headline to read more.


Ginnie Mae issuance up 21% from last year

Ginnie Mae issued $29.2 billion in mortgage bonds in March, up roughly 21% from the same month last year.

Ginnie packages Federal Housing Administration and Veterans Affairs home loans into securities and guarantees timely payment of principal and interest to investors.

The Ginnie Mae II single-family pools increased to $21.5 billion in March from $15.8 billion last year. Single-family Ginnie Mae I securities dipped to $5.3 billion from slightly more than $6 billion in March 2011.

"Ginnie Mae has been a key component of the country's economic recovery," said Ginnie Mae President Ted Tozer.

"Without Ginnie Mae providing liquidity via the secondary market for government-insured mortgage loans, the turmoil in the housing market would have been much worse," Tozer added. "And, given Ginnie Mae's consistently high issuance levels, it is clear that issuers and investors are still depending upon Ginnie Mae."



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