Ginnie Mae recently announced that it will permit the issuance of mortgage-backed securities (MBS) backed by mortgage loans documented using electronic promissory notes (eNotes) under its Pools Issued for Immediate Transfer (PIIT) program beginning February 1, 2026. The PIIT program is a “co-issue” program that allows loan originators to pool loans with Ginnie Mae, and simultaneously transfer the issuer and servicing responsibility to a purchaser of the related servicing rights. Loans backed by eNotes are a quickly growing part of the residential lending market – in its announcement Ginnie Mae states that since it began accepting digitally backed loans (the pilot program launched in 2020) at least $92 billion dollars in eNote backed assets have been included in Ginnie Mae MBS, with over 50 issuers participating in the program. Until now, however, Ginnie Mae was unable to accommodate eNotes in the PIIT program. Fannie Mae and Freddie Mac already have co-issue programs for the purchase and pooling of loans backed by eNotes.Continue Reading Ginnie Mae Accommodates Further Use of eNotes
Ginnie Mae
HUD Seeks Input on Reverse Mortgage Programs
On October 2, 2025, HUD, through FHA and Ginnie Mae, issued a Request for Information (RFI) seeking public input on the current and future roles of the Home Equity Conversion Mortgage (HECM) and HECM Mortgage-Backed Securities (HMBS) programs. Stakeholders are invited to comment by December 1, 2025 (Docket No. FR-6551-N-01) via regulations.gov or mail. …
MSR Fund Investments: 7 Aspects to Consider
While residential mortgage lenders are facing tough headwinds driven by rising interest rates and low housing volume, the current market presents opportunities for savvy investors looking at mortgage servicing rights (“MSRs”). The current mortgage market is supported by non-bank mortgage originators and servicers who lack the same access to capital and liquidity as traditional banks.
Ginnie Mae Enhances LMI Disclosure, Accommodating Investor Interest in ESG
In early February 2023, as part of its broader mission to support and sustain the financing of affordable single family and multifamily housing for all Americans, Ginnie Mae further refined its focus on social responsibility in the mortgage-backed security (MBS) market by launching an enhanced Low-to-Moderate Income (LMI) disclosure as part of its Ginnie Mae…