Former  Ginnie Mae President Sam Valverde Joins Freddie Mac

Former Ginnie Mae President Sam Valverde Joins Freddie Mac

Former Ginnie Mae exec Sam Valverde has moved to Freddie Mac as its VP of mission and community engagement in its single-family acquisitions division. Valverde brings more than two decades of leadership experience to the role, having most recently served as acting president of Ginnie Mae. He took on the role after former president Alanna…

Alanna McCargo Steps Down As Ginnie Mae President

Alanna McCargo Steps Down As Ginnie Mae President

Ginnie Mae’s Alanna McCargo is leaving the company and returning to private life, the Department of Housing and Urban Development announced. McCargo, who has served a president of the Government National Mortgage Association (Ginnie Mae) since January 2022, called the move a “deeply personal decision.” “The past 3.5 years in public service with the Biden-Harris…

CHLA: FHFA Updated Seller Standards Could Have “Negative Real-World Consequences”
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CHLA: FHFA Updated Seller Standards Could Have “Negative Real-World Consequences”

The Community Home Lenders Association (CHLA) sent a letter to the Federal Housing Finance Agency (FHFA) commenting on its proposed increases in financial requirements for Fannie and Freddie. In February, the FHFA proposed updated standards that mortgage lenders would have to meet in order to sell loans to or service loans on behalf of Fannie…

Morning Roundup (2/9/2022)– Applications Down, Rocket Superbowl Ad

Morning Roundup (2/9/2022)– Applications Down, Rocket Superbowl Ad

Good Morning! Today is Wednesday, February 9. New York State will drop its indoor mask mandate this week. Mitch McConnell denounced the RNC’s characterization of Jan. 6 as “legitimate political discourse.” The House passed a bipartisan bill to keep the Postal Service solvent and to reduce mail delays. The Mortgage Note Reports Gearing Up For The…

Morning Roundup (1/25/2022)– Emerging Markets, Mortgage Scheme Victims Can Apply For Compensation

Morning Roundup (1/25/2022)– Emerging Markets, Mortgage Scheme Victims Can Apply For Compensation

Good Morning! Today is Tuesday, January 25. President Biden was caught cursing about a Fox News reporter on a hot mic. Stocks continued a selloff at the opening bell this morning as investors worry over Fed policies and global politics. The Supreme Court will hear cases challenging affirmative action, focused on Harvard and the University of…

Morning Roundup (1/5/2022)– UWM Under Fire, Loan Applications Down

Morning Roundup (1/5/2022)– UWM Under Fire, Loan Applications Down

Good Morning! Today is Wednesday, January 5. A snowstorm in Virginia left hundreds of drivers stranded for more than 24 hours. Chicago canceled school today amid a clash with teachers about remote schooling during the Omicron surge. Walmart and Kroger are raising prices for BinaxNOW at-home Covid tests after a White House deal to sell them…

Morning Roundup (1/4/2022)– Americans Moving, Alanna McCargo Sworn In

Morning Roundup (1/4/2022)– Americans Moving, Alanna McCargo Sworn In

Good Morning! Today is Tuesday, January 4. Apple became the first U.S. company to reach $3 trillion in market value. Chuck Schumer threatened to change Senate filibuster rules if Republicans did not allow a vote on voting rights measures. Elizabeth Holmes was found guilty on four counts of fraud related to her failed company, Theranos. And…

Alanna McCargo Sworn In As Ginnie Mae President

Alanna McCargo Sworn In As Ginnie Mae President

Alanna McCargo has officially been sworn in as the 18th president of Ginnie Mae, becoming the first Senate-confirmed president in five years and the first woman to hold the position. The position has remained empty since 2017 when Obama-appointed president Toed Tozer stepped down. The interim presidents who followed him, Michael Bright and Maren Kasper,…

MBA: Forbearances Fell To 1.67% In November

MBA: Forbearances Fell To 1.67% In November

The total number of loans in forbearance fell from 2.06% of servicers’ portfolio volume to 1.67% in November, according to the Mortgage Bankers Association’s (MBA) Loan Monitoring Survey. MBA estimates 835,000 homeowners are currently in forbearance plans. Independent mortgage banks saw a 0.34% decline from 2.28% to 1.94%, while depositories saw a 0.5% drop from…

LIFT Act Proposes 20-Year-Fixed-Rate Mortgages For First-Time Buyers
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LIFT Act Proposes 20-Year-Fixed-Rate Mortgages For First-Time Buyers

New legislation introduced in the Senate, known as the “Low-income First Time Homebuyer (LIFT) Act,” proposes creating a new 20-year-fixed-rate mortgage program through Ginnie Mae, subsidized by taxpayers. First-time, first-generation homebuyers with an income equal to or less than 120% of the area median income would qualify. Ginnie Mae, along with the Department of the…

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