Fun fact: Ginnie Mae regularly captures 95% or more of new FHA and VA loan production...

As recently as November, Impac Chairman and CEO George Mangiaracina said returns on loans eligible for sale to the government-sponsored enterprises were better than returns from non-QMs. However, this spring he indicated that market dynamics had changed.

In a research note, Keefe, Bruyette & Woods said that following Gilbert’s stock sale his interest in Rocket Companies will drop to 93% from 94%.

The original order for leniency was put into place because of the global pandemic.

The benefits of a waiver are straightforward. Fannie said it speeds up the loan origination process...

HUD's Fudge: "We continue to monitor mortgage performance trends within our portfolio, particularly related to those homeowners who are struggling financially because of the pandemic.”

The number of complaints in the annual report submitted to Congress is substantially higher than figures reported on the bureau’s public-facing website...

Trends varied at the three big banks in the jumbo market. Wells Fargo, for instance, paused originations of the loans through correspondents in the second half of the year...

Meanwhile, industry consultant Christopher Whalen noted, “What a difference a year makes. Twelve months ago, some of the industry’s largest independent mortgage banks were in danger of tipping over due to the liquidity wave unleashed by the FOMC in response to COVID."

Issuers of MBS and ABS should use a 30-day average of SOFR rather than LIBOR when setting adjustable-rate terms for new deals, according to recommendations from a group convened by the Fed.