Ginnie Mae

Chief Operating Officer Joseph Gormley's appointment fills out a thin executive team at the government corporation, which plays a key role in funding mortgages.

The plan from the Heritage Foundation, a group the first Trump administration was largely in line with, would shutter CFPB, break up HUD and raise FHA premiums.

The announcement, made at the Mortgage Bankers Association's Secondary and Capital Markets Conference, underscores Ginnie Mae's role at the forefront of digitization efforts in the capital markets space.

A recommendation to give Ginnie Mae expanded authorities is drawing focus in the reactions to a Financial Stability Oversight Council report on nonbank risks.

McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.

McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.

A proposed reduction in the amount of overall discretionary spending amounts would hamper both agencies' ability to fulfill their affordable-homeownership missions, the consortium of housing industry advocates said.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

HUD official Alanna McCargo takes over the top job at the government corporation, which has had a series of acting leaders since 2017.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

The guarantor of mortgage-backed securities has been without a Senate-confirmed president for four and a half years. The vacancy makes it difficult for other government agencies to coordinate housing objectives, according to stakeholders.

The guarantor has for the first time proposed a risk-based capital requirement for companies not subject to other federal regulation. The industry says the plan, which would impose a heavy charge for servicing portfolios, could drive lenders away from government-backed programs.

Ginnie Mae is allowing lenders to securitize modified home loans with this extended term as the Biden administration works to make more housing options available for struggling borrowers.

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

The Federal Housing Administration's move to insure loans with forbearance could help support homeownership opportunities constrained by the coronavirus if one change was made to it, trade groups said.

The Federal Housing Administration has provided struggling homeowners with payment flexibility and explored other measures. At the same time, the agency is mindful of protecting itself against downside risks.

Federal backing for firms facing a deluge of missed mortgage payments is still on the table despite recent comments by an official who questioned the need to help the industry.

At issue is whether the U.S. should step in now to save nonbank mortgage servicers to head off damage to the housing market.

Tenants have threatened to suspend payments during the pandemic to pressure officials into providing rental assistance, but the effects on multifamily loans would compound concerns about servicers' liquidity and, ultimately, lenders' performance.

Ginnie Mae will begin taking requests for assistance from issuers who, having exhausted all other options, are having trouble advancing borrowers' principal-and-interest payments to investors amid the pandemic.