Ginnie Mae, is a wholly owned U.S. government corporation that guarantees and securitizes pools of mortgages originated through FHA, Veterans Administration, and Rural Housing Administration programs. Since the housing crisis Gennie Mae has experienced a shift in is lender (issuer) base; the share of non-banks originating the loans underlying its mortgages-backed securities (MBS) has increased significantly. Now the Office of Inspector General (OIG) for the Department of Housing and Urban Development (HUD), has published the results of an audit which claims Ginnie Mae, in its oversight role, has not adequately responded to that shift. While Ginnie Mae guarantees and securitizes the above types of loans, it depends on its issuers to take full responsibility for servicing, remitting, and reporting

September 27, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Sep 27, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.10 -0.18   97.47 101.61 UMBS 30YR 6.0 102.40 -0.13   99.66 102.50 10 YR Treasury 4.083 +0.043   3.621 4.780 MBS Live Day Ahead: Bonds Staring Down a Tough Day Wed, Sep 27, 2017 9:24AM Before it even began, today was set to be a challenge for bond markets.  As discussed in an earlier update on MBS Live , Treasury yields rose sharply in the overnight session with the most common justification being today's imminent announcem... (read more) MBS Live Recap: No Drama From Yellen; Bonds Still Holding Ground Tue, Sep 26, 2017 4:33PM Today was another good day for bond markets despite the fact that Treasury yields moved somewhat higher during the course of trading hours.  At least in today's case, bonds didn't require an injection of geopolitical drama in order to maintain their position in the low 2.2's (10yr yields).  This helps build an ongoing case that the September rate... (read more) MBS Price Change UMBS 5.0 99.47 -0.31 UMBS 5.5 101.09 -0.19 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.79 -0.29 GNMA 5.5 101.12 -0.07 GNMA 6.0 102.08 -0.11 Pricing as of: 9/9 5:16PM EST US Treasury Yield Change 2 YR Treasury 3.550 +0.063 5 YR Treasury 3.608 +0.046 7 YR Treasury 3.809 +0.041 10 YR Treasury 4.081 +0.042 30 YR Treasury 4.721 +0.031 Pricing as of: 9/9 5:16PM EST Other News OIG Criticizes Ginnie Mae Oversight of Nonbanks Wed, Sep 27, 2017 12:51PM Ginnie Mae, is a wholly owned U.S. government corporation that guarantees and securitizes pools of mortgages originated through FHA, Veterans Administration, and Rural Housing Administration programs. Since the housing crisis Gennie Mae has experienced a shift in is lender (issuer) base; the share of non-banks originating the loans underlying its mortgages-b... (read more) Housing Momentum "Drained" Per Pending Sales Data Wed, Sep 27, 2017 10:22AM The prospects for home sales weakened further in August, and the National Association of Realtors® (NAR) has downgraded its sales forecast for the remainder of 2017. In what must be the gloomiest report in some time, NAR announced its Pending Home Sales Index (PHSI) slipped on a monthly basis for the fifth time in six months; the last increase was 1.5 pe... (read more) Purchase Applications Gain Ground Wed, Sep 27, 2017 9:10AM A second consecutive downturn in refinancing volume during the week ended September 22 offset one of the best weeks for purchase mortgage applications since mid-summer. As a result, the Market Composite Index, a measure of application volume, also posted a second week of losses. The Mortgage Bankers Association (MBA) said that index was down 0.5 percent from... (read more) Bank/Lender M&A - The What and Why; Training Events Wed, Sep 27, 2017 9:14AM Princess Bride 30-years old ? Time flies. My 94-year old father remembers his childhood phone number in San Francisco: WAlnut 4694. Telephones moved to all numbers in the 1940s and 1950s - will addresses also change? Is it possible to change every address in the world? Jeremy Potter sent out a note about What3Words turned the entire world into 3m x 3m square... (read more) Latest Video The GOP's tax plan: Blueprint for reform Max Baucus: This is just a framework, we have no idea what the tax legislat... Republicans unveil tax reform framework Around the Web consumerfinancemonitor.com CFPB issues arbitration rule small entity compliance guide CNBC The real problem with credit reports is the astounding number of errors Market Watch Everything you wanted to know about your credit report but were afraid to ask Calculated Risk Blog Zillow Forecast: "August Case-Shiller Forecast: Annual Home-Price Gains Aiming Higher" Market Watch One-third of American households can't afford food, shelter or medical care CNBC Bonds could be the big loser under the GOP tax plan Reuters Reversing crisis-era trends, U.S. family income jumped in 2013-2016: Fed CNBC This is the most important point in the GOP tax-reform plan Market Watch Fed's Bullard sees no need to raise interest rates anytime soon Bloomberg No Working Fed Inflation Models, Says Dan Tarullo - Bloomberg Video Calculated Risk Blog Freddie Mac: Mortgage Serious Delinquency rate declined in August, Lowest since April 2008 Federal Reserve Agencies propose simplifying regulatory capital rules Freddie Mac Freddie Mac Announces the Issuance of a New Three-Year Reference Notes Security

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