Entering text into the input field will update the search result below

Ginnie Mae offers help to mortgage servicers

  • Ginnie Mae last night promised to use a program normally reserved for natural disasters to get cash to mortgage servicers.
  • With unemployment soaring and the new stimulus bill allowing some folks to get up to 12 months of forbearance, servicers are bracing for a massive wave of of delinquencies. And servicers are on the hook to get money to mortgage investors whether or not individuals make their mortgage payments.
  • Ginnie Mae says it will have the operation up and running in two weeks.
  • Not Fannie Mae or Freddie Mac, Ginnie Mae-insured mortgages tend to have a higher risk profile, and thus are more likely to require some sort of forbearance.
  • Interested parties include: Mr. Cooper (NASDAQ:COOP), Ocwen (NYSE:OCN), New Residential (NYSE:NRZ), PennyMac Financial (NYSE:PFSI)

Recommended For You

Related Stocks

SymbolLast Price% Chg
COOP--
Mr. Cooper Group Inc.
OCN--
Ocwen Financial Corporation
RITM--
Rithm Capital Corp.
PFSI--
PennyMac Financial Services, Inc.