The Structured Finance Industry Group’s years-long effort to reform practices in the non-agency mortgage-backed security market is nearly complete. However, it’s not clear whether the practices will be widely adopted by MBS issuers.
Originations of expanded-credit mortgages increased 20.2% in 2018 and market share for the sector also grew, according to a new ranking and analysis by Inside Nonconforming Markets. [Includes one data chart]
Lenders will no longer be able to edit appraisals in FHA’s Electronic Appraisal Delivery portal. They will have to submit a corrected appraisal to update the field.
Concerned with the increasing number of nonbank lenders in the mortgage market and tight liquidity conditions, Ginnie Mae has started developing stress tests for its largest issuers.
Lawmakers and mortgage market players are watching whether the Trump administration will petition the U.S. Supreme Court to reverse a circuit court decision extending medical and disability benefits to war veterans who fell ill due to exposure to Agent Orange while serving in the territorial waters of Vietnam.
Ginnie Mae will not be able to conform its pooling requirements to the VA interim final rule on cash-out refinancing because doing so would be contrary to the provisions of the Dodd-Frank reform act, the agency noted.
FHA delinquency rates fell 26.4 basis points between December and January and were down 14.1 bps over an eight-month period ending January, according to the Inside FHA/VA Lending database. [Includes one data chart.]
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