Ginnie Mae has been able to provide continuity on several key initiatives since Sam Valverde stepped in as acting president last month, and he says those aimed at sustaining mortgage liquidity will be the agency’s top priority as it moves forward. This includes steps that may counter interest-rate related cash-flow strains on the growing number
Fannie Mae and Freddie Mac are doing more to address what have been expensive repurchase concerns, with the former noting potential for artificial intelligence to end them long-term and the latter working to clear roadblocks to current technology use that minimizes them. “Our North Star is to get out of repurchases altogether,” Devang Doshi, senior
As banks further distance themselves from certain residential finance assets, various parts of the market could be reshaped, multiple speakers at a recent mortgage-backed securities conference said. In servicing, the share of government-related transfers to nonbanks have been trending upward and have been particularly high recently, Richard Koss, chief research officer at Recursion Co., told
KBRA assigned a rating to a new series of servicing-related term notes from a master trust issuer at Freedom Mortgage this week in line in a Ginnie Mae market that’s drawing more focus. The series 2024-SAT1 notes from FMC GMSR issuer trust are backed by certificates that represent participation interests in Ginnie Mae mortgage servicing
Fannie Mae, a major investor and securitizer of mortgages made in the United States, has launched its first insurance-based credit-risk transfer in 2024, which introduces some changes to the program. For one, the credit-insurance risk transfer deal from Fannie Mae includes an identifier for single-family mortgage pools in certain loan-to-value ratio ranges. The letter “L”
The Federal Home Loan Bank of San Francisco has begun accepting mortgages underwritten using Vantagescore 4.0, one of the advanced credit metrics that other government-related entities are also on track to adopt. The move announced Monday could help broaden the credit box and contribute to housing initatives for racial equity, according to Teresa Bryce Bazemore,
Ginnie Mae on Monday announced that it has addressed a technical issue that had affected a portion of the single-family issuer operational performance profile. The prepayment field, which had been displaying outdated information, is something mortgage companies that issue the mortgage-backed securities that Ginnie guarantees can expect to see updated information on it in the
Mortgage company mergers, size reductions and shutdowns have reduced loan product offerings to their lowest level in over a decade in December, the Mortgage Bankers Association found. The group’s Mortgage Credit Availability Index was 92.1, down 4.6% from November’s 96.5. It is also 10.8% down from 103.3 for December 2022. “Credit availability declined in December