Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
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Items Tagged with 'Ginnie Mae'

ARTICLES

FHFA watchdog: GSEs still at risk of TBW-style scams

Counterparty risk still real threat
Ben Lane
In a new report, the FHFA’s watchdog warns that the government-sponsored enterprises and their government counterpart, Ginnie Mae, must make improvements in several areas to avoid a recurrence of the multi-billon dollar losses that were suffered at the hands of Taylor, Bean & Whitaker chairman Lee Farkas, who is now behind bars, and his co-conspirators.
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Chicago FHLB launches Ginnie Mae MBS program

Gives small banks access to secondary mortgage market
Brena Swanson
The Federal Home Loan Bank of Chicago will soon launch its new program that allows members to originate and sell government-backed loans into Ginnie Mae mortgage-backed securities.
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Who said the MSR market was frozen?

Another billion-dollar bulk portfolio available for sale
Ben Lane
Ocwen Executive Chairman William Erbey called the mortgage servicing rights market frozen in April. While that may be true from his perspective, recent activity shows a fair amount of activity elsewhere in the space.
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Ginnie Mae reevaluates nonbank rules

Prepares for future distress
Brena Swanson
Ginnie Mae President Ted Tozer explained that since the company increasingly relies on nonbank mortgage companies, he is evaluating if they have enough easy-to-sell assets to survive in times of distress.
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$1.2 billion Fannie, Ginnie bulk MSR portfolio for sale

Loans carry weighted average note rate of 3.75%
Ben Lane
Fannie Mae and Ginnie Mae each back a separate pool of the underlying loans. IMA is requesting separate bids to be submitted for the Fannie pool and the Ginnie pool to allow consideration by the seller to sell the pools separately.
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Ginnie Mae ditches paper and goes electronic application

Electronic filing to start very soon
Jacob Gaffney
Ginnie Mae, the only issuer of government-backed mortgage bonds, announced it is moving away from paper-based issuer applications to an all-electronic system. As of September 1, all applicants will be required to file electronically, via the Application Connection.
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Wells Fargo: Chicago home loan bank seeks Ginnie Mae alliance

Redwood Trust also plans joint venture
Jacob Gaffney
"Details are not known yet; however, based on news reports, this program could result in additional GNMA residential mortgage backed securities supply," said a research report from Wells Fargo.
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Nationstar: "Our capital and liquidity position remain strong"

FHFA blocked servicer's MSRs
Brena Swanson
Although the Federal Housing Finance Agency Office of the Inspector General’s most recent report over nonbank special servicers tried to keep the troubles of one company anonymous, all fingers point to Nationstar.
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Ginnie Mae’s MBS portfolio reaches $1.5 trillion

Grown 30% from $1 trillion in 2010
Ben Lane
The corporation's portfolio has grown from $1 trillion in 2010 to $1.5 trillion in 2014. It took 42 years, from the company's founding in 1968 to 2010, for its portfolio to reach $1 trillion.
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Here's proof Fannie and Freddie are betting on the housing recovery

Expect improved fundamentals
Jacob Gaffney
The loss reserve fund once stood at $116 billion and it's now down to a four-year low of $72 billion. There are many reasons for this happening and all point to continued improvements in the housing markets.
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