Items Tagged with 'Ginnie Mae'

ARTICLES

  • Mortgage market quickly bounces back from latest hurricane season

    Government agencies prepare for round two
    Last year was a rough one for homeowners hit by a slew of natural disasters including hurricanes, flooding, and even wildfires. Now, months later, the mortgage market is recovering surprisingly well, according to a panel of experts from government agencies at the Mortgage Bankers Association Secondary conference.
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  • Trump administration officially nominates Michael Bright to lead Ginnie Mae

    Bright has been leading Ginnie Mae on an interim basis since July 2017
    Ginnie Mae has been without a permanent leader since January 2017, but that could soon change, as the Trump administration announced Tuesday that it is formally nominating Michael Bright to serve as president of Ginnie Mae. If confirmed, Bright would take over officially for former Ginnie Mae President Ted Tozer, who stepped down at the beginning of the Trump administration.
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  • Ginnie Mae reportedly boots two lenders from bond program over VA loan churning

    NewDay and Nations Lending sanctioned
    Ginnie Mae’s battle against a number of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages just went to another level. Ginnie Mae reportedly booted NewDay USA and Nations Lending from its primary mortgage bond program after threatening the lenders earlier this year over their abnormally high prepayment speeds.
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  • Wells Fargo: Ginnie Mae warning on VA loan churning is just the beginning

    Analysts expect oversight of VA refinances to intensify
    On Thursday, Ginnie Mae laid down the law, so to speak, in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But according to analysts from Wells Fargo, Ginnie Mae’s threat of booting lenders from its bond program will not be the agency's last move in its effort to clean up VA loan churning.
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  • Ginnie Mae threatens to boot lenders from bond program over VA loan churning

    Steps up fight against lenders targeting veterans for quick refinances
    Ginnie Mae is turning up the heat in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae is now threatening a small number of lenders with expulsion from its primary mortgage bond program if the lenders do not address the issue.
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  • Expert warns latest Ginnie Mae regs aren't improving FHA and VA pricing as intended

    Questions remains exactly why this is happening
    Brent Nyitray, director of capital markets for iServe Residential Lending, said in an email today that loan officers are taking note of “lousy” pricing for FHA and VAs higher up in the rate stack. But, Ginnie Mae just issued new regulations to prevent serial refinances. Why isn't it leading to higher demand?
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  • Bipartisan group of senators seek more “predatory” lending protections for veterans

    Lenders would be required to show “material benefit” for VA refinances
    Over the last few months, Ginnie Mae and the Department of Veterans Affairs began looking into a segment of mortgage lenders that were aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But a bipartisan group of senators think both the VA and Ginnie Mae need more legal authority to stamp out the problem entirely.
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  • David Stevens: Here's the MBA view on GSE reform

    What to do about Fannie, Freddie, and even Ginnie
    [Expert commentary] In an exclusive guest post, Mortgage Bankers Association President and CEO David Stevens presents the MBA's view on the "right" reform plan for Fannie Mae, Freddie Mac, and Ginnie Mae. How much should the government be involved in the mortgage market? Stevens presents the MBA case.
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  • Ginnie Mae steps up oversight on refinances

    Also, increasing tracking and analysis of prepayment rates
    Ginnie Mae is getting the word out that it is actively monitoring the pooling activity of issuers to identify behavior that violates the latest changes to issuer policies. Namely, Ginnie Mae is changing its rules surrounding refinances after an investigation found that some lenders are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages.
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  • Congressional hearing scheduled on the future of Ginnie Mae

    HFSC set to hear testimony this Wednesday
    The House Financial Services Committee is set to hear testimony on Wednesday from the acting director of Ginnie Mae on the future of the only entity that securitizes federally insured mortgages. The hearing may give some insight into the government's plans for Fannie Mae and Freddie Mac.
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