Refinance volume included in Ginnie Mae mortgage-backed securities slipped for the fourth consecutive month in August as interest rates climbed higher. (Includes two data tables.)
Industry groups urged FHA to flesh out and update the disclosures for VA mortgages that will be added to FHA mortgage applications as a result of Congress’ new housing law.
Many large FHA lenders were consistently more lenient or stringent in their acceptance of applications over an eight-year period studied in a pair of new working papers.
If borrowers of VA loans only paid refinance fees in cash or by rolling the fees into the interest rate, it would more accurately reflect the annual percentage rate of the new mortgage, thus reducing refis where the benefit is razor-thin, according to the Urban Institute.
Ginnie Mae is using its internal framework to evaluate potential use cases for AI, to avoid feeding data into a public model, according to its president, Joe Gormley.