Banks reduced their non-agency jumbo lending in the early months of 2024, with nonbanks picking up some of the slack. Deliveries of high-balance mortgages into agency MBS also declined in the first quarter. (Includes three data tables.)

The program provides borrowers a 3% downpayment assistance second lien with up to $15,000 in financing. The loan does not accrue interest and does not require a monthly payment.

Changes could be underway in the subservicing sector. Number-one ranked Cenlar soon may be out from under OCC regulatory sanctions, while Select Portfolio Servicing takes a second trip to the auction block. (Includes data table.)

During refinance booms, loan officers can be worth their weight in gold but during a downturn LO costs need to be adjusted. That reckoning may be underway now.

The Center for Responsible Lending, the Housing Policy Council and the National Consumer Law Center are asking FHA to allow borrowers to roll closing costs into the balance of their streamline refinance loans.

The AQB is considering other professional work experience as a substitute for the college degree required for some licenses.

Sales of both existing and new homes declined on a monthly basis in April. Still, home sales and mortgage originations are expected to pick up as interest rates decline.

After losing an appeal before a three-judge panel of the Federal Court of Appeals, plaintiffs are asking — for the second time — that the full court hear their case in light of a new Supreme Court decision.

Speaking at the MBA secondary conference, CFPB Director Rohit Chopra pushed back against the argument that credit reporting fees are distinct from junk fees. He said the term junk fee extends to fees that lack competition in the market.

Would a second Trump administration be more likely to take the GSEs out from under the government’s thumb? It didn’t work the first time around, but Biden hasn’t been interested at all.