The Mortgage Bankers Association this week raised concerns with the Department of Housing and Urban Development about its proposed property standards for new construction and substantial renovations of FHA-insured properties located in a floodplain.

The Mortgage Bankers Association and the Housing Policy Council want the VA to carefully consider the specifics of a new loss-mitigation program, the VA Servicing Purchase program, it plans to unveil this summer.

Members of the House Financial Services Committee are seeking clarification related to the treatment of delinquent loan buyouts from Ginnie Mae pools in the new Community Reinvestment Act proposal.

The need for Ginnie Mae nonbank issuers to have ongoing access to capital is key to their success, and that informs the agency’s approach to policy and risk management, said Ginnie President Alanna McCargo. 

Some experts expect MSR trading to top $1 trillion in each of the next three years, surpassing the approximately $900 billion traded in 2022.

With production expenses rising to more than $13,000 per loan, and four straight quarters of negative net income, mortgage lenders struggle to find ways to stay in business.

The Senate must now vote on the bill which would lift the federal debt limit until January 2025.

With the Fed’s exit from the market and the push for shorter durations at banks, industry participants ponder what price agency MBS will clear at and what it will cost homebuyers.

The MBA president castigated the government for its response to the banking crisis, particularly regulator efforts to expand their authority over nonbank sellers and servicers.

FHA Commissioner Julia Gordon said FHA plans to “very soon” add a proposal to its drafting table on options that mortgage servicers can use to help borrowers reduce their monthly payments to keep them in their homes.