Ginnie Mae’s Outstanding MBS Balance Approaches $2T

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: The Benefits of Perfecting Loan Collateral Next: The Top 10 Cities for Retirement Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Ginnie Mae Issuance MBS mortgage Securities 2018-08-14 Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Ginnie Mae Issuance MBS mortgage Securities Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The total outstanding mortgage-backed securities (MBS) at the Government National Mortgage Association or Ginnie Mae in July climbed to $1.98 trillion from $1.85 trillion during the same period a year ago. According to the agency, whose MBS programs directly support housing finance programs administered by the Federal Housing Administration, and other related agencies, its issuance of MBS totaled $36.77 billion in July.Breaking down these issuances, Ginnie Mae said that they included $35.38 billion of Ginnie Mae II MBS and $1.39 billion of Ginnie Mae I MBS, which includes $1.229 billion of loans for multifamily housing.Ginnie Mae data indicated that issuances for single-family home loans remained unchanged at $162 million month-over-month. However, they declined from $463 million recorded during the same period last year. Overall issuances for single-family and multifamily loans also declined year over year to $1.3 billion from $1.9 billion during the same period last year.Ginnie Mae II MBS are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An Issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-Issuer pools or through participation in the issuance of multiple-Issuer pools, which combine loans with similar characteristics.On the other hand, Ginnie Mae I MBS are modified pass-through mortgage-backed securities on which registered holders receive separate principal and interest payments on each of their certificates. Ginnie Mae I securities can include single-family, multifamily, manufactured home and project construction loans.Earlier, last week, Ginnie Mae had issued a bulletin highlighting processing changes to the HMBS loan-level disclosures beginning with the August 2018 new issuances disclosure and the July monthly disclosure.Last month Michael Bright, EVP, and COO at Ginnie Mae laid out his vision for the agency during his testimony at the Senate Banking Committee’s hearing to consider his nomination as the President of Ginnie. Bright, who was nominated for this position by the Trump administration in late May said that Ginnie Mae’s bond and its brand were globally recognized as the most pristine mortgage security in the world. “This is because of Ginnie Mae’s track record of success and our robust process for ensuring the timely payment of principal and interest to security holders,” he said. “Ginnie Mae has never missed a payment in its 50 years of existence, even during the financial crisis.” You can read more about Bright’s vision for Ginnie Mae here.In June, issued an All Participants Memorandum (APM) announcing the implementation of changes to pooling eligibility requirements for Department of Veteran Affairs’ (VA) insured or guaranteed mortgages under the “Loan Seasoning for Ginnie Mae Mortgage-Backed Securities,” provision. These changes affect security issuances on or after June 1, 2018, but do not otherwise affect the guarantee or composition of MBS issued before that date. You can read more about the changes by clicking here.center_img Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. About Author: Radhika Ojha in Daily Dose, Featured, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 14, 2018 2,424 Views Servicers Navigate the Post-Pandemic World 2 days ago Share Save Subscribe The Best Markets For Residential Property Investors 2 days ago Ginnie Mae’s Outstanding MBS Balance Approaches $2T Home / Daily Dose / Ginnie Mae’s Outstanding MBS Balance Approaches $2T Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

American Legion Post 524 Calls on O.C. to Help Military Family

first_imgNicole and Tech Sgt. Josef Ward, with their children, Lucie, 1, Jude, 4, and 6-year-old Josiah, say COTA and generous people have helped them in a difficult time. (Photo provided by the American Legion Post 524) By MADDY VITALEOcean City American Legion Post 524 Commander Bob Marzulli said he became emotional when he learned of a military family of five, in which two of the children needed liver transplants.Marzulli, along with other Post 524 representatives, asked the business community during the Ocean City Regional Chamber of Commerce meeting at the Flanders Hotel on March 12, to consider helping the Ward family through the Children’s Organ Transplant Association (COTA).“We brought some brochures and packets today explaining what COTA is,” Marzulli explained. “If you’ve ever been involved with a COTA family — this is the first time for me — it really tugs at your heart. Take a packet if you desire and we will be around to talk to you personally.”Air Force Tech Sgt. Josef Ward and his wife, Nicole, of Fort Dix, N.J., formerly of Coral Springs, Fla., have three children, Josiah, 6, Jude, 4, and 1-year-old daughter, Lucie.Jude started having seizures at just four weeks of age, according to a press release provided by the America Legion.It was determined that the child suffered from Alpha 1 Antitrypsin Deficiency, an inherited genetic disorder that leads to cirrhosis of the liver.American Legion Post 524 adopts the Ward family for 2020.Josef and Nicole completed program materials to become a COTA family. With COTA, the responsibility of fundraising shifts to a community team of trained volunteers.Marzulli and Auxiliary President AnneMarie Maiknor explained to the Chamber that the Ocean City American Legion chose the South Jersey family in need and is committed to raising $10,000 in honor of Jude and Lucie Ward.“We pledge to raise $10,000 by May, and also the same next year,” Maiknor told the crowd. “We are hoping you will help us. We think it is a wonderful thing to raise money for this family.”COTA campaigns are named in honor of the transplant recipient and are tax deductible to the fullest extent of the law; COTA funds are available to the family for a lifetime of transplant-related expenses.Fundraising efforts by volunteers of COTA for Team Ward helped make Jude’s liver transplant surgery a success on July 20, 2017. In total, COTA raised $60,000 in funds for the Ward family.COTA has supported the Ward family through the challenge of Jude’s transplant, and they continue to help today, nearly two years later, according to the release.“Life after a transplant is a balance of enjoying life, but also being mindful of keeping Jude healthy,” Nicole Ward said. “The biggest blessing our family has received from Jude’s journey of hope is the blessing of perspective.”Now, Lucie needs a liver transplant.Nicole expressed why COTA is such an important part of their lives.“Without COTA, we simply would not have been able to provide our son with the opportunity to receive the best medical care possible for his disease,” she said. “I do not know how to begin to express my gratitude for The Children’s Organ Transplant Association.”After Marzulli and Maiknor told the business community about COTA and the Ward family, Michele Gillian, executive director of the Chamber of Commerce, said a few words.She first told the members of Post 524 that they are appreciated for all they do for the community and then she said the Chamber supports them in their endeavors.“We welcome you. We thank the American Legion for all they do for our veterans and active duty,” Gillian said. “We commend all of their activities. We thank you for your service.”For more information call American Legion Post 524 at 609-398-1751 or visit www.legion524ocnj.org. People may also visit COTA.org.last_img read more