JPMorgan Chase has begun marketing a rare prime jumbo MBS backed entirely by adjustable-rate mortgages.

Production of FHA reverse mortgages declined 11.4% from the fourth quarter to the first. Industry watchers are calling for reforms to increase program uptake. (Includes three data tables.)

Originations of adjustable-rate mortgages continued to decline in the first quarter of 2024.

Mortgage holdings at banks increased last year despite mixed results at the largest depositories, including a decline at Wells Fargo. The ARM share also increased somewhat. (Includes data table.)

Originations of adjustable-rate mortgages stayed flat in the third quarter while total first-lien production declined somewhat. (Includes data table.)

Production of adjustable-rate mortgages increased by 25% from the first to the second quarter. However, the overall share of ARMs declined. (Includes data chart.)

Fannie has updated its selling guide to provide modest flexibilities on manufactured home loans, adjustable-rate mortgages and cash-out refinances.

Lenders originating ARMs weren’t able to buck the broader trend of declining originations in the fourth quarter of 2022. Still, on an annual basis, the ARM share nearly doubled in 2022 thanks to rising interest rates. (Includes data chart.)

Holdings of first-lien mortgages at banks and thrifts increased by nearly 10% in 2022. First Republic Bank stood out with a nearly 30% increase. (Includes data chart.)

White House releases budget request; MBA seeks clarifications from FHA on expanded COVID loss-mitigation options; MBA asks VA to consider appraisal-related policy reforms; HUD finalizes rule removing LIBOR as approved index for FHA ARMs; House bill seeks to make permanent mortgage insurance premium tax deduction.