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DS News Webcast: Monday 3/2/2015

Ginnie Mae has launched a scorecard-based risk management tool that will allow issuers to gauge their operational and default performance against both their peers and Ginnie Mae's program standards, according to an announcement from Ginnie Mae. According to Ginnie Mae President Ted Tozer, the new Issuer Operational Performance Profile tool, with its scorecard approach comparing issuers' performances with those of their peers and with Ginnie Mae's expectations, lays groundwork for issuer-driven performance improvements and enhanced knowledge.

Using the IOPP scorecard, issuers receive immediate and transparent feedback on how they are performing in the Ginnie Mae program in the categories of issuing, pooling, servicing, and month-to-month collateral management. The IOPP scorecard uses key metrics such as failure to report UPB, timely reporting of UPB corrections, and a compliance review metric to provide an operational management score. Issuers will receive a delinquency management score based on metrics such as early payment defaults, 60- to 90-day roll rates, workout effectiveness, and foreclosure inventory.

While Fannie Mae's February 2015 Economic Outlook released on Thursday predicted a boost for housing this year based on strong economic growth, consumers may not be quite convinced. The University of Michigan/Thomson Reuters Index of Consumer Sentiment released Friday tumbled down to 95.4 for February after reaching its highest level in 11 years, 98.1, in January. Even with the month-over-month decline, February's reading was still at the highest level in eight years.

About Author: Jordan Funderburk

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