The Senate last week approved $70 billion in budgetary resources for the Department of Housing and Urban Development as part of its fiscal 2023 appropriations package.

HUD wants to increase its outreach to community development financial institutions through more frequent training webinars tailored to teaching them how to join the FHA program.

Ginnie Mae wants to know how the agency and FHA can enhance their respective manufactured housing programs.

Results were mixed in a Department of Housing and Urban Development study on the impact of pre-purchase counseling for first-time homebuyers.

RHS proposes rule for use of automated underwriting and closing systems; Ginnie revises capital requirements for certain entities; VA clarifies new procedures for alternative valuation; USDA announces toll-free lender line; VA report on home loan program; FHA working to promote energy-saving products in home rehabilitations.

Redwood’s jumbo acquisition volume declined by more than 40% in the second quarter and the REIT took a loss on its residential activities. Officials at Redwood said the company is well-positioned moving forward.

Annaly is seeing strong returns from its aggregation and sales of non-agency mortgages even with weak demand in the secondary market. The REIT boosted its non-agency MBS issuance with plans for further growth.

After a nearly 30-day lull, MBS with prime jumbos hit the market. An offering from Chase was significantly smaller than the issuance from the firm in the past. A number of expanded-credit MBS are also on offer.

Dwindling refis and record levels of home equity are making home-equity products attractive for nonbanks. The challenge is competing with banks that have the capacity to hold HELOCs and the like in portfolio.

Radian is following Arch among private mortgage insurers launching non-agency conduits. Officials at Radian note that its experience with private MI will help with acquisitions and sales of non-agency mortgages.