Former HUD Secretary Marcia Fudge joins Taft law firm as partner and public policy chair; MBA President Bob Broeksmit calls for national housing policy director; and Ginnie Mae to allow commingling of digital and paper loans.

Originations of jumbo mortgages declined in the first three months of the year driven by a retreat among banks. Nonbank lenders picked up some of the slack. (Includes data table.)

Freddie Mac’s proposal to acquire closed-end second liens is unnecessary because there are adequate options available in the non-agency market, according to a number of trade groups.

Rejection rates on jumbo mortgage applications increased last year even as application volume declined. (Includes data table.)

Lenders and tech vendors believe AI can be used to help qualify more nontraditional borrowers in the non-QM space.

Morningstar has positive outlook for Acra; PRMG adopts FICO Score 10 T for non-QM underwriting; SG Capital Partners updates guidelines.

Although Fannie saw a 20% decline in Supers MBS issuance in the first quarter, Fed data show a substantial increase in the central bank’s “aggregated” holdings of Fannie securities. (Includes two data tables.)

Beginning in June, Ginnie will allow commingling of digital and paper mortgages in its MBS.

Demand in the secondary market for non-qualified mortgages is helping to fuel originations of the loans. Delinquencies in the sector have ticked up but aren’t yet a major concern.

Banks are looking for capital relief, regulators are making issuance of credit-risk transfers easier for banks to complete and investor demand for the deals is strong.