The House Committee on Veterans Affairs has marked up 18 bills to support veterans, among them one would improve the appraisal process under the VA home loan program.
Habitat for Humanity CEO Jonathan Reckford called on the group’s affiliates and other nonprofits to make new efforts to partner with USDA to improve homeownership in rural areas.
Funding announced to rehabilitate certain veterans’ homes; Rural Housing Service announces regulatory waivers; share of Ginnie Mae home loans in forbearance rises; HUD to host pre-purchase counseling symposium; HUD schedules housing counseling advisory meeting; Ginnie to hold issuer training and listening session.
Non-agency lenders looking to sell mortgages with lower interest rates only have whole-loan sales as an outlet as MBS investors wait for new originations.
First Republic increased its originations for the second consecutive quarter thanks to a focus on jumbos. The bank puts an emphasis on customer service and benefits from having a portfolio to hold mortgages.
Sprout originated about half of the loans in a new $293.5 million expanded-credit MBS from an affiliate of Lone Star Funds. Fitch Ratings assessed the deal and suggested that risks tied to Sprout were limited.
Non-QMs are a double-edged sword for lenders, offering attractive margins along with extreme volatility risk. Industry analysts suggest demand for the loans in the secondary market will recover when lenders start selling mortgages with higher interest rates.
Since December, interest rates have increased on both non-agency jumbos and conventional-conforming mortgages. But rates have increased by a lower amount on jumbos thanks to demand for the loans at banks.
Fitch corrects improper upgrade to non-agency credit-risk transfer transaction; RMF offers MBS with proprietary reverse mortgages; update on crypto mortgages; LoanScorecard broadens availability of bank statement analyzer.
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