Fairway Independent Mortgage, Movement Mortgage and Caliber Home Mortgage were the top three lenders in USDA’s Rural Housing Service single-family housing guaranteed loan program.

Chair of the House Committee on Financial Services pledges support for housing-related funding; FHA plans webinar on manufactured housing; Ginnie Mae to hold training sessions for issuers; VA to award grants providing legal services to veterans at risk of homelessness; MISMO seeks comments on life-of-loan process model; USDA updates income limits for home loan program.

The settlement won’t prompt any changes to UWM’s policies or practices...

The impact of balance sheet reductions, which effect the supply of long-term securities, is more tangential.

Originations of adjustable-rate mortgages declined in the first quarter of 2022, but at a slower rate than the downturn in total first-lien production. ARMs accounted for 7.9% of total originations during the quarter. (Includes data chart.)

Spreads on expanded-credit MBS issuance have widened significantly this year as lenders sell mortgages originated prior to the runup in interest rates. Issuance has slowed but market participants are optimistic in the long term.

Some non-agency lenders will allow for investment-property mortgages underwritten based on the income generated by the property where the monthly rent doesn’t cover expenses for the property.

An affiliate of Bayview Asset Management issued an MBS with small-balance commercial properties in May, marking the first issuance of its type from the firm since September 2020.

After more than a year of steady declines in delinquencies on securitized non-QMs, delinquency rates have fluctuated in recent months.

Moody’s proposed establishing ESG “issuer profile scores” and “credit impact scores” for structured finance transactions rated by the firm. DBRS, too, has released its approach to ESG risk factors in credit ratings.