Q&A with Ginne Mae chief Michael Bright

Ginnie Mae, which oversees more than $2tr of US residential mortgages, has grappled with a prolonged cycle of ‘loan churning’ of Veterans Affairs loans, the steady unwind of the Federal Reserve’s balance sheet and a challenging mortgage finance market in the past year. GlobalCapital’s Alexander Saeedy connected with Ginnie Mae COO Michael Bright to discuss what lies ahead for the agency in 2019.

  • By Alexander Saeedy
  • 08 Jan 2019

GlobalCapital: What trends are you seeing in Federal Housing Agency and Veterans Affairs loan underwriting?

Michael Bright, Ginnie Mae: For sure, in FHA underwriting, we’re seeing debt-to-income (DTI) ratios go up as incomes have been stagnant and home prices continue to climb. That first rung of housing affordability ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

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