Industry Briefs Aug. 15, 2024
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Ginnie Mae MBS Portfolio Outstanding Hits $2.62 Trillion in July
Ginnie Mae’s mortgage-backed securities portfolio outstanding grew to $2.62 trillion in July, including $39.3 billion of total MBS issuance, leading to $15.5 billion of net growth.
July’s new MBS issuance supports the financing of more than 119,000 households, including more than 61,000 first-time homebuyers–76% of the July MBS issuance reflects new mortgages that support home purchases because of low refinance activity.
The July issuance includes $38.5 billion of Ginnie Mae II MBS and $742 million of Ginnie Mae I MBS, including $608 million in loans for multifamily housing.
For 2024 to-date, Ginnie Mae has supported the pooling and securitization of more than 368,000 first-time buyers.
LenderLogix Integrates With Truv
LenderLogix, Buffalo, N.Y., announced an integration with Truv, Las Vegas. Lenders can now access Truv’s consumer-permissioned data platform through LenderLogix’s point-of-sale LiteSpeed to obtain income and employment verification for mortgage applicants.
Truv’s technology covers 96% of the U.S. workforce, and will help lenders streamline operations.
Borrowers will also benefit from the simpler and speedier process, the companies noted.
Nationwide Property & Appraisal Services Launches BPO Products
Nationwide Property & Appraisal Services, Voorhees, N.J., has launched Broker Price Opinion products.
The products are targeted at mortgage lenders, financial institutions and investment firms, and provide detailed and timely valuations.
Key features include localized market insights, comprehensive services that include a variety of property types and quality assurance on each report, Nationwide said.
Westcor Creates the Westcor Store
Westcor Land Title Insurance Co., Maitland, Fla., announced a collaboration with GridBase, Plymouth Meeting, Pa., to create the Westcor Store, a new digital platform.
It will allow Westcor agents to bring a comprehensive suite of tools, resources and technology products directly to their desktops.
Highlights include a comprehensive toolset, integrated capabilities for the Ardán family of companies, preferred vendor access and that it can serve as a single point of access.
Westcor also noted there will be periodic updates and new features added on a regular basis.
