After rumors late this week surfaced that Sen. Mark Warner, D-VA, was walking away from supporting the government-sponsored enterprises’ bill (Corker-Warner) he crafted with Bob Corker, R-TN, a source close to the housing finance reform discussions confirmed that is not the case.

A planned MBS from affiliates of New Residential Investment received much higher ratings than a similar deal issued by the firm in 2016. The deals are backed by the excess spread tied to servic-ing rights on non-agency mortgages.

Angel Oak Capital Advisors saw stronger than expected demand from investors for a fund that focuses on non-qualified mortgages. AOCA announced last week that the private fund closed to new investors after raising $291 million, exceeding the initial goal of $250 million.

Ginnie Mae is redefining the term “defective mortgage” to remind issuers of their obligations when confronted by a home loan that does not have federal insurance or a guarantee. The action also clarifies options issuers may consider in dealing with defective mortgages.

Non-agency MBS issuance had its best quarter of 2017 during the final three months of the year, boosting annual production 30.2 percent higher than in 2016, according to a new ranking and analysis by Inside MBS & ABS.

The Department of Veterans Affairs and Ginnie Mae are ramping up efforts in 2018 to curb serial refinancing, including long-term solutions, increased portfolio monitoring and protection for veterans against predatory lending practices.

A former FHA commissioner called for the restructuring of the agency as a government corporation within the Department of Housing and Urban Development with its own separate appropriation, budget control and risk-management capabilities.

Members of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit convened early this week to consider legislation that would affect Home Mortgage Disclosure Act enforcement and certain institutions regulated by the Consumer Financial Protection Bureau – mostly smaller players.

The Federal Housing Finance Agency Office of Inspector General said the recent uptick in the purchase of adjustable rate mortgages by Fannie Mae and Freddie Mac, especially since November 2016, bears watching as a potential emerging risk.

Mortgage servicing is mistakenly overlooked when it comes to housing-finance reform discus-sions and research on the business is sparse, according to an Urban Institute paper released this week.