Wilbur Ross quits Ocwen Financial

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
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Items Tagged with 'Ginnie Mae'

ARTICLES

Banks’ agency MBS holdings rise $13.6 billion in Q3

Reverses decline in Q2
Ben Lane
According to Barclays, the majority of the increase came in the form of conventional agency MBS holdings, which increased by $11.9 billion in the third quarter. Agency collateralized mortgage obligations increased $5.4 billion, while Ginnie Mae holdings were down by $3.7 billion.
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MBA: Independent mortgage bankers most closely regulated of all

Don’t judge all by a few nonbanks having problems
Trey Garrison
A few high-profile nonbanks in the mortgage space have been making unfortunate headlines in the last couple of months, and some are worried that it may make borrowers gun shy about independent mortgage bankers and nonbank firms — but they shouldn't be.
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$1 billion in MSRs just became available

Loans backed by Fannie Mae and Ginnie Mae
Ben Lane
The portfolio features 97% fixed-rate and 100% first-lien product, a weighted average original FICO score of 716, a weighted average original loan-to-value ratio of 86%, and a weighted average interest rate of 4.53%, MountainView said.
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Ginnie Mae launches 5 new initiatives to increase mortgage lending

HUD secretary warns American Dream remains out of reach
Brena Swanson
While homeownership is the cornerstone of the America dream, the new Secretary of the Department of Housing and Urban Development, Julián Castro, noted that this just isn’t as possible as it used to be for many Americans. But Ginnie Mae is quickly working to combat this.
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Should mortgage technology and data be universally shared?

Yes, and no
Jacob Gaffney
The sharing of what works seems to be an agreed-upon process. But when it comes to mortgage technology and/or data, there is no clear consensus that advances should be universally shared.
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$835 million in bulk MSRs coming to market

Market continues to be considerably unfrozen
Ben Lane
"It’s an exceptionally clean GNMA portfolio, with a very low coupon and low delinquencies," said Robert Wellerstein, managing director at MountainView Servicing Group. "Given the high-quality product, portfolio size and experienced seller, we expect this package to garner a lot of interest among MSR buyers."
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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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