The FHFA said reviews have helped align GSE prepayment speeds in the past few years while helping to make sure MBS investors’ interest are considered in the equation.

Applications for purchase mortgages and refinances both declined.

House Republicans, who previously said the Senate bill didn’t go far enough, said they will have a separate reg relief package to be considered by the Senate.

Mike Crapo, R-ID, chairman of the committee, said housing finance reform is one of his top priorities.

Respondents to the Mortgage Bankers Association's quarterly mortgage banking performance survey reported, in aggregate, a negative margin in the “mid to high single digits” for the first quarter.

Most of the decline in FHA business was in purchase-mortgage lending while VA business took a hit due to reductions in the Interest Rate Reduction Refinance Loan program.

If stated income appears to be overstated by 15.0 percent or more, PointPredictive notifies the lender so additional verification can be completed.

The House decided to take a vote on the current Senate bill with no amendments and the Senate is expected to consider a separate deregulation package from the House.

Fifth Third Bancorp announced on Monday that it has agreed to buy MB Financial in a transaction valued at approximately $4.7 billion. The combined company will then rank fourth in total deposits and second in retail deposits in Chicago market. It will also have a 20 percent share of middle market relationships in Chicago, ranking it second.

The non-qualified mortgage share of originations by banks increased slightly in 2017, according to a survey by the American Bankers Association. The share of banks offering non-QMs also increased.