Skip to main content

Ginnie Mae Launches New Issuer Report Card

NationalMortgageProfessional.com
Feb 24, 2015

Ginnie Mae has announced the launch of a risk management tool that will allow Issuers to measure their performance not only against program standards, but against their peers. The Issuer Operational Performance Profile (IOPP) tool uses a scorecard approach that allows issuers to gauge their operational and default performance against their peers and Ginnie Mae program expectations. Ginnie Mae President Ted Tozer noted that this initiative lays the groundwork for enhanced knowledge and Issuer-driven performance improvements.

“The launch of the IOPP reflects Ginnie Mae’s ongoing commitment to increasing transparency and value for Issuers, investors, and other stakeholders,” said Tozer. “We believe this new tool will help us continue to ensure that a safe, effective, and government-backed channel for the flow of capital for U.S. mortgages exists, reducing risk to the taxpayer and providing much-needed capital for the government.”

The IOPP scorecard gives Issuers immediate and transparent feedback on their performance in the Ginnie Mae program in the areas of issuing, pooling, servicing and collateral management on a month-to-month basis, and calibrates to their peers. Issuers will receive an operational management score based on key metrics such as failure to report unpaid principal balance, timely reporting of UPB corrections, and a compliance review metric based on findings from Ginnie Mae’s most recently-completed compliance review of the Issuers.

The metrics behind the delinquency management score will be based on early payment defaults, 60- to 90+ day roll rates, workout effectiveness, and percentage of loans in foreclosure. The end result will be two scores for each Issuer—one for operational management and one for delinquency management—both of which will be calculated and reported each month. Both Single-Family, Multifamily and Home Equity Conversion Mortgage-Backed Securities (HMBS) Issuers will have access to the tool.

“The IOPP is an Issuer report card, and we believe that once launched, it will help us in our work with our Issuers so we can continue to provide stability to the housing finance industry and continue to meet our mission of bringing global capital into the housing finance market to provide affordable housing opportunities to millions of Americans.” Tozer said.

Published
Feb 24, 2015
'A Long Road To Normal'

Nominated again to lead The Fed, Powell tells Senate committee to expect three rate hikes, but 'if we have to raise interest rates more over time, we will.'

Regulation and Compliance
Jan 11, 2022
CFPB: Complaint Response Worsens At Big 3 Credit Bureaus

Report claims Equifax, Experian, and TransUnion routinely failed to fully respond to consumers with errors.

Regulation and Compliance
Jan 10, 2022
The Fed Names Chairs, Deputy Chairs For 12 Reserve Banks

In recent years, the Federal Reserve System has worked to increase the overall diversity of the Reserve Bank and branch boards of directors and continues to build on those efforts.

Regulation and Compliance
Jan 06, 2022
The Fed: Rate Hike Likely Coming in June

Federal Open Market Committee's December minutes reveal discussion of first hike in federal funds rate in 2Q of 2022, as well as of ending asset purchases by March.

Regulation and Compliance
Jan 05, 2022
AARMR No Protection For Savanah Scares

Conference provides opportunity for regulators to interact, discuss common topics

Regulation and Compliance
Jan 04, 2022
McCargo Sworn In As Ginnie Mae President

Former HUD official becomes the first female to lead the Government National Mortgage Association.

Regulation and Compliance
Jan 04, 2022