Former exec from HUD’s Ginnie Mae program joins Ainsworth Advisors

The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in 1968 to promote home ownership.As a wholly owned government corporation within the Department of Housing and Urban Development (HUD), Ginnie Mae’s mission is to expand affordable housing finance in America by linking domestic and global capitalization to the nation’s housing finance.

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Ginnie Mae does not purchase loans or MBS* Ginnie Mae does not issue or sell MBS* Lenders/Servicers . Does not originate loans or provide financing for other lenders . Does not service loans, with the exception of seized portfolios *Under the Multiclass program, Ginnie Mae does momentarily acquire and subsequently Issue MBS comprised of other.

The Ginnie Mae I program permits lenders to issue securities backed by pools of single family, multifamily, and manufactured housing loans where the interest rate is the same for each loan in the pool. The lender decides to whom to sell the security and then submits the documents to Ginnie Mae’s pool processing agent.

Two acquisitive mortgage bankers see first-quarter profits fall Our actual performance may fall short. % next year. Mortgage interest rates have fallen in recent weeks and lenders are currently seen a substantial increase in refinancing applications. The MBA.

Also closed during the shutdown are many HUD operations and activities. (with the exception of Home Equity Conversion Mortgages and Title I loans) and Ginnie Mae will continue to operate. Other.

Ocwen and FIS agree to settle lawsuit over alleged audit abuses

The firm is led by Joe Murin, former President and CEO of Ginnie Mae, and Brian Montgomery, former Assistant Secretary for Housing and Federal Housing Commissioner. Both played major roles in the federal governments efforts to address the nations financial crisis and restore stability and liquidity to financial markets.

Michael Bright is the executive vice president and chief operations officer at Ginnie Mae. Prior to HUD Mr. Bright was director of financial markets for the Milken Institute’s Center for Financial Markets. Maren Kasper is Ginnie Mae’s executive vice president, having previously served as senior advisor in the Office of the Secretary.

Several mortgage industry veterans with ties to the reverse mortgage market joined corporate consultancy Ainsworth Advisors’ team this month. Among the new additions to Ainsworth’s panel of consultants are Marc Helm, former Reverse Mortgage Solutions, Inc. president and CEO, former Ginnie Mae president Joseph Murin.

14:40 ET Subscribe to our weekly e-newsletter, Top News. Ginnie Mae should be separated from HUD, former Ginnie president says. The former head of Ginnie Mae says it is time to put some distance between the housing-securities insurer and its current parent, the U.S. Department of Housing and Urban Development (HUD).

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