Ginnie Mae

Ginnie Mae has restricted loanDepot's ability to securitize Veterans Affairs mortgages because of apparent churning of recent originations.

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.

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.

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.

Nonbank lenders are gearing up for new secondary market requirements and must make some difficult choices about whether to buy, sell or hold mortgage servicing rights, says Ruth Lee, the executive vice president of MorVest Capital.

The House Financial Services Committee held a hearing to examine the outgoing committee chairman's bipartisan GSE reform bill, but lawmakers were already looking ahead.

The Federal Housing Administration's risk-sharing program with the Federal Financing Bank began as a temporary fix, but the agency is exploring how to make it more permanent.

Ginnie Mae officials are concerned about unusual activity with Department of Veterans Affairs cash-out refinances and are investigating the causes, as well as whether predatory lenders are taking advantage of veterans.

At least six Trump administration picks to fill financial posts are still pending, but the bitterly partisan divide over Judge Brett Kavanaugh has taken up most of the energy in Congress.

Housing finance reform is still likely years away, but a growing chorus of lawmakers say the government guarantor has the ability to clear the path to a final plan.