Although 30-day delinquencies were up, Fannie, Freddie and Ginnie all saw significant declines in the number of loans two- and three-payments past due. (Includes data chart.)
Priority Financial Network is steamed about the Ginnie application process and is searching for answers. Meanwhile, it could fund $2 billion in loans this year, including conventional, government and non-QMs.
The non-agency MBS market had its best quarter since COVID, including a huge increase in June issuance of prime-jumbo and ECM deals. The agency market, however, was in retreat. (Includes three data charts.)
Despite growing calls to begin the painful process of ending quantitative easing — at least for agency MBS — the FOMC says it’s maintaining its liberal monetary policy for the foreseeable future.
A dispute between Two Harbors and its former external manager will continue in court, with a focus on intellectual property. The REIT’s chief investment officer also abruptly left at the end of the second quarter.
The White House responded quickly to SCOTUS’ Wednesday ruling that the FHFA director can be fired at will. Within hours, Mark Calabria was shown the door and Sandra Thompson was appointed acting chief.
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