Onity Group Inc. won regulatory approval for a revised sale of most of its reverse mortgage servicing rights to Finance of America (FOA), the company said Tuesday. Under the new agreement, Onity will sell MSRs on about 20,000 Home Equity Conversion Mortgages (HECMs) with an unpaid principal balance of $5.1 billion as of March 31. […]
Onity approved to sell reverse MSRs to Finance of America Read More »
Ginnie Mae President Joseph Gormley, who is also serving as acting commissioner of the Federal Housing Administration (FHA), said the counterparties participating in Ginnie Mae’s program have evolved significantly since the Great Financial Crisis, with greater exposure to independent mortgage banks (IMBs) that have invested heavily in governance and risk management. Still, he cautioned that
Ginnie Mae’s Joseph Gormley sounds the alarm on ‘risk-layered’ FHA portfolios Read More »
Processing Content Key insight: The FHA tightened the screws on its borrowers by requiring a three-month trial payment period that is now fueling a surge in delinquencies. What’s at stake: Thousands of borrowers face massive balloon payments, negative equity and soaring taxes and insurance payments as pandemic-era relief options are exhausted. Supporting data: “We need
End of FHA pandemic relief to kick off wave of foreclosures Read More »
Applications for government-guaranteed or insured mortgages made up almost one-third of the week’s volume for the period ended May 1, the Mortgage Bankers Association said. Processing Content Rates for these loans tend to be lower. The Mortgage Bankers Association only provides rate data for the Federal Housing Administration-insured loan, which averaged 6.12% for the week,
2026 Top Producers of government-guaranteed mortgages Read More »
Ginnie Mae will temporarily exclude loans in Federal Housing Administration (FHA) Trial Payment Plans (TPPs) from issuer delinquency calculations, responding to higher reported rates, the corporation announced last week. In 2025, the FHA updated its single-family loss mitigation waterfall and reinstated required TPPs before certain workout options, such as partial claims, can be approved. Under
Ginnie Mae to pause counting FHA TPP loans as delinquent Read More »
Federal Housing Administration Commissioner Frank Cassidy, who also serves as the FHA’s deputy assistant secretary for single family mortgages, has gone on leave. Processing Content Cassidy’s leave, which is related to “family matters,” began earlier this month and will extend to at least the end of April, according to a Politico Pro report. Ginnie Mae
FHA’s Cassidy on leave, Ginnie Mae’s Gormley filling in Read More »
Government mortgage-backed securities guarantor Ginnie Mae is providing some deadline relief to issuers who may be rushing to file annual audited financial statements this week. Processing Content Ginnie has announced that it’s removing the 15-day advance notice requirements for extension requests on the statements, which are due March 31 for most issuers. The financial statements
Ginnie Mae gives issuers a break, adds new prepayment data Read More »
Government securitization guarantor Ginnie Mae is providing mortgage companies with more options for pooling loans as it starts 2026 with a newly confirmed president. Processing Content Electronic promissory notes, which Ginnie made eligible for commingling with traditional collateral back in 2024, can now be included in Pools Issued for Immediate Transfer starting Feb. 1. PIIT
Ginnie Mae adds pooling flexibilities as 2026 gets underway Read More »
Senate confirmations have officially filled key leadership posts at Department of Housing and Urban Development entities, ending formal vacancies that have taken most of the year to fill. Processing Content Ginnie Mae President Joe Gormley and Federal Housing Administration Commissioner Frank Cassidy are industry veterans that have been serving in acting roles for much of
Senate confirms key leaders at Ginnie Mae, FHA Read More »
Ideas for reshaping the federally insured reverse mortgage program and its avenue for secondary market issuance is the hot topic of conversation for industry professionals in late 2025. And New View Advisors added to the discussion last week with a host of comments submitted to the U.S. Department of Housing and Urban Development (HUD) and
New View Advisors floats sweeping changes to HECM, HMBS programs Read More »