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 The prepayment field, which had been displaying outdated information, is something mortgage companies that issue the mortgage-backed securities that Ginnie guarantees can expect to see updated information on it in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