Industry Briefs, Dec. 15, 2023

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Ginnie Mae: MBS Portfolio Outstanding Grew to $2.51 Trillion in November

Ginnie Mae announced its mortgage-backed securities portfolio outstanding grew to $2.51 trillion in November, including $31.7 billion of total MBS issuance.

Its November new issuance supported the financing of more than 100,000 households, including 53,000 first time buyers.

Approximately 76.5% of the November MBS issuance reflects new mortgages that support home purchases because refinance activity remained low due to higher interest rates.

For 2023 so far, Ginnie Mae has supported the pooling and securitization of more than 570,000 first-time homebuyers.

Incenter Capital Advisors Highlights New Name

Incenter Capital Advisors, Denver, is the new name for Incenter Mortgage Advisors.

The rebranding reflects a broader mission, which it said is to help clients drive stronger financial performance, with an emphasis on corporate strategy and capital markets activities spanning the full gamut of asset classes, institutions and balance sheet types.

Tom Piercy, founder and longtime IMA leader, will become Chief Growth Officer. JB Long will be the new President.

Grid151, Avanze Tech Labs Partner

Grid151, Plymouth Meeting, Pa., and Avanze Tech Labs, Orlando, Fla., announced a partnership to streamline technology and processes for title agents, underwriters and mortgage lenders .

Grid151’s GridBase middleware platform will help connect Avanze’s sophisticated STACX intelligent automation solutions for Order Entry, CD collaboration and Post-Closing automation with multiple title production platforms and loan origination systems.

The companies say this will help lower costs and reduce errors.