Lenders originated $112.67 billion of FHA and VA loans in the third quarter — the highest quarterly volume for the government loan programs since the second quarter of 2022. (Includes three data tables.)
Issuance of Ginnie Mae mortgage-backed securities with refinance loans increased sharply for the third straight month in October. However, the refi business appears poised to slow as interest rates on mortgages increased through October. (Includes two data tables.)
FHFA plans for board structure changes; Justice Department sues Rocket over refi discrimination; Redwood markets jumbo ARM securitization; LoanCare launches digital recapture product.
Interest rates tick up, mortgage applications slow near the end of September and refi rate locks spike during the month; Annaly turns to Rocket for subservicing and retention; Fairway touts returning employees; mortgage tech developments; SitusAMC sells loan insurance entity.
Refinance activity drove much of the increase in Ginnie MBS issuance between July and August. Freedom Mortgage remained the top Ginnie issuer, but its production was down 1.9% from July. (Includes two data tables.)
Ginnie Mae issuers produced $38.15 billion into mortgage-backed securities in July, an 8.3% increase from the previous month. (Includes two data tables.)
The Department of Housing and Urban Development charged Rocket Mortgage with appraisal bias in connection with a denied refinance application. loanDepot settled a similar charge with the CFPB this year.