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Mortgages Ginnie Mae

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Orrick, Herrington & Sutcliffe LLP

District Court rules in favor of Ginnie Mae in case involving extinguishment of liens

On October 18, the U.S. District Court for the Northern District of Texas denied a motion for partial summary judgment filed by the plaintiff, a bank, against Ginnie Mae. The dispute centered on Ginnie Mae’s extinguishment of...more

Orrick, Herrington & Sutcliffe LLP

Ginnie Mae updates its guide to streamline processes for eMortgages

On May 31, Ginnie Mae published its APM 24-09: Updates To Digital Collateral Program Guide to clarify, update, remove and expand policies on digital products, such as notes, closing systems, vaults, applicants and registries....more

Alston & Bird

Large Nonbank Ginnie Mae Issuers: Ginnie Mae Wants Your Recovery Plans

Alston & Bird on

What Happened? Following the release of the Financial Stability Oversight Council (FSOC) Report on Nonbank Mortgage Servicing, Ginnie Mae announced in APM 24-08 that certain large nonbank Ginnie Mae Issuers will now be...more

Orrick, Herrington & Sutcliffe LLP

Ginnie Mae outlines recovery planning requirements for issuers with over $50 billion

On May 20, Ginnie Mae released “APM 24-08: Mandatory Recovery Planning Requirements for Certain Issuers,” which outlined Ginnie Mae’s introduction of recovery planning requirements for issuers whose portfolios exceed $50...more

Orrick, Herrington & Sutcliffe LLP

Ginnie Mae updates its rules on the securitization of digital collateral

On May 20, Ginnie Mae released an All Participant Memorandum (APM) titled “APM 24-07: Commingling Digital Collateral with Paper Collateral in Ginnie Mae Pools,” which included opening Ginnie Mae’s Digital Collateral Program...more

Alston & Bird

Ginnie Mae Imposes Cybersecurity Incident Notification Obligation

Alston & Bird on

What Happened? On March 4, 2024, Ginnie Mae issued All Participant Memorandum (APM) 24-02 to impose a new cybersecurity incident notification requirement. Ginnie Mae has also amended its Mortgage-Backed Securities Guide to...more

Orrick, Herrington & Sutcliffe LLP

Ginnie Mae to explore a new reverse MBS

On January 16, Ginnie Mae announced its plans to consider the development of a new securitization product in connection with broader efforts to expand its existing Home Equity Conversion Mortgage (HECM) mortgage-backed...more

Sheppard Mullin Richter & Hampton LLP

More Trouble Ahead for the Mortgage Industry If Ginnie Mae’s Risk-Based Capital Requirements Take Effect

The new Ginnie Mae issuer financial requirements, first published on August 17, 2022 in APM 22-09 by joint announcement with the Federal Housing Finance Agency, are scheduled to take effect in two parts beginning September...more

Ballard Spahr LLP

Ginnie Mae Report Includes Recommendations to Improve VA Loan Program

Ballard Spahr LLP on

Ginnie Mae advises in the report that in early 2016 it and investors in Ginnie Mae guaranteed MBS “first began to identify a wave of early loan repayments and serial refinancing as a problem with much greater incidence in VA...more

David Shirk - Shirk Law

UPDATE Ginnie Mae clarifies first payment basis intended by APM 21-06

David Shirk - Shirk Law on

Yesterday, Ginnie Mae clarified in an industry forum that its APM 21-06 seasoning requirements for the VA IRRRL Refinance of a Modified Loan are measured from the contracted first payment due date under a modification...more

David Shirk - Shirk Law

Ginnie Mae APM 21-06 restates interpretation of VA seasoning requirements

Ginnie Mae clarifies its MBS Guide with respect to seasoning of VA IRRRLs that are a “Refinance of a Modified Loan.” Issuers had challenged Ginnie Mae’s buy out demands that claimed insufficient seasoning when measured from...more

David Shirk - Shirk Law

Why Ginnie Mae Issuers are Challenging VA Seasoning Buyout Demands and Why Lenders Care

David Shirk - Shirk Law on

Issuers should be aware that Ginnie Mae interpreting its MBS guide in a manner that departs from VA circular 26-19-22, and the plain reading of statutory language with respect to the beginning and ending dates used to...more

Pillsbury Winthrop Shaw Pittman LLP

DC Council Acts to Extend COVID-19 Relief for Tenants and Others

Legislation requires rent payment plans, mortgage relief, and foreclosure and eviction moratoriums. Residential and many commercial landlords may not increase rent and must make rent payment plans available to eligible...more

Mayer Brown

Ginnie Mae Restricts Long-Time Legitimate Business Activity of Mortgage Servicers

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Ginnie Mae’s newly imposed restriction on repooling of reperforming forborne loans yet again penalizes servicers acting as essential service providers in the continuing efforts to protect mortgagors facing financial hardship...more

McGlinchey Stafford

COVID Law Imposes Forbearance and Loss Mitigation Requirements

McGlinchey Stafford on

On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more

Mayer Brown

Mortgage Servicers Are Getting the Short End of the Stick Under the CARES Act

Mayer Brown on

Many of you have read about the power of the president to invoke the Defense Production Act to acquire products or direct the activities of suppliers based on a finding that it is necessary for the federal government to...more

Alston & Bird

Ginnie Mae Expands Pass-Through Assistance Program to Finance Servicing Advances in Response to COVID-19

Alston & Bird on

Our Finance Group explains how Ginnie Mae will be implementing the Pass-Through Assistance Program during the coronavirus pandemic. Considerations for third-party lenders - Who is eligible? How often can you request...more

Bradley Arant Boult Cummings LLP

Ginnie Mae Announces PTAP Assistance for Issuers

In an All Participants Memo dated April 10, 2020 (APM 20-03), Ginnie Mae announced that it revised and expanded its issuer assistance programs in Chapter 34 of the Mortgage Backed Securities Guide (MBS Guide) to include a...more

Lowenstein Sandler LLP

Ginnie Mae COVID-19 Guidance

The economic impact of the COVID-19 pandemic has proven substantial, especially for the mortgage finance industry. Leaders across the state and federal level have implemented foreclosure moratorium policies to alleviate the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2020

Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more

Ballard Spahr LLP

House Passes Bill to Address Unintended Ginnie Mae Securitization Issue Created by S.2155

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The U.S. House of Representatives recently passed H.R. 6737 to amend the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) to address a technical issue that prevented mortgage lenders from including...more

Ballard Spahr LLP

Treasury Recommends Sweeping Industry Changes for Mortgage Lenders and Servicers

Ballard Spahr LLP on

As covered earlier this week in a legal alert, the U.S. Department of the Treasury issued a report recommending sweeping regulatory changes for consumer financial services. Within the report, the Treasury also recommended a...more

Ballard Spahr LLP

Additional guidance from HUD/Freddie/Fannie/Ginnie/VA on mortgage-related disaster relief for hurricane victims

Ballard Spahr LLP on

In addition to the guidance regarding Hurricane Harvey disaster relief, the housing agencies and government-sponsored enterprises (GSEs) recently addressed the mortgage-related relief available to victims of both Hurricane...more

Carlton Fields

Securities Fraud Update: Eleventh Circuit Clarifies Section 17(a) and Rule 10b-5 Analyses

Carlton Fields on

S.E.C. v. Radius Capital Corp., No. 15-12004, 2016 WL 3542235, ___ F. App’x ___ (11th Cir. June 29, 2016). The Eleventh Circuit last month explained the material similarities and differences between two kinds of...more

Morrison & Foerster LLP

An Era of Transformation

The depth and impact of the 2007-08 financial crisis, rooted in residential finance, have been apparent for some time. There has never been doubt that its aftermath would transform the way mortgage lending operates in the...more

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