The Trump administration will likely take starkly different positions on housing and the mortgage market compared with the Biden administration. Expect changes at the GSEs, while a reduction to FHA mortgage insurance premiums looks unlikely.

With the latest MMIF audit showing a strong capital reserve ratio, the FHA commissioner said it’s probably time to take action on pricing.

Purchase mortgages and refis increased across the board in the agency MBS market in the third quarter, with the strongest growth seen in refis that carried primary mortgage insurance. (Includes three data tables.)

Although nonbank advocates have long argued for FHLBank membership, new proposals from the Urban Institute address key challenges.

The MBA wants significant changes to the Federal Financing Bank risk-sharing program. Reforms are also needed in the multifamily accelerated processing program, according to the trade group.

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.

A proposal from the Urban Institute calls for a revamp of the refi process to make it more equitable for lower-income borrowers and borrowers of color.

The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.

Freedom Mortgage more than doubled its production from the fourth quarter to the first. Mike Patterson, COO of the nonbank, said the growth was driven by attractive loan characteristics.