The newly sworn-in director’s first public remarks seemed to contrast with the approach of her predecessor, Mick Mulvaney, who at times questioned the role of the agency.
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Loans in commercial mortgage-backed securities originated after 2009 by nonbank lenders have a significantly higher default rate than those originated by banks, a Fitch Ratings report said.
January 14
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Many federal agencies have been closed for more than three weeks, making it the longest shutdown in U.S. history. With no end in sight, here's how it's affecting banks, credit unions and mortgage lenders.
January 13
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The tricky part: raising awareness without appearing to take advantage of borrowers at a time when agencies like the SBA are out of commission.
January 11
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A lapse in rental-assistance funding, an understaffed FHA and other effects of the government shutdown are causing real harm to families, said the chair of the House Financial Services Committee.
January 11
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That's in contrast with the sponsor's prior deal, completed in December, which tested the waters for mortgage bonds backed exclusively by second liens.
January 11
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Ford Motor Credit added a one-time seven-year revolving period to its previous open pool of auto loan receivables.
January 11
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At Ginnie Mae, Michael Bright worked closely with Congress to fight churn in VA mortgages; he plans to bring the same collaborative approach to the Structured Finance Industry Group.
January 10
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More than 45% of collateral for the $254.4 million CPSART 2019-A are either "preferred," "super alpha” or “alpha plus”; that's up from 42.4% of collateral for the prior deal.
January 10
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Affirm, which for six years has plied its trade as a point-of-sale lender, wants to move deeper into banking by offering a high-rate savings account.
January 10
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Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.
January 10
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CarMax Superstores' first $1.2B-$1.5B prime loan securitization of 2019 has its lowest concentration to date of passenger vehicles in its nearly 20 years selling notes backed by receivables.
January 10
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Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.
January 9
