July marked the third straight month of declines in the government-sponsored enterprises’ MBS holdings.

Housing affordability is one of the few issues lawmakers currently agree on.

Correspondent acquisitions at Pennymac tumbled from $22.3 billion in the second quarter to $10.5 billion in the first two months of the third quarter.

Earlier in his career, Jones was a staffer in the Senate and he was an associate vice president of government housing finance at the Mortgage Bankers Association from early 2023 through early 2025.

Ginnie guaranteed $49.44 billion of MBS in August, a 3.0% decline from July. Refinance volume declined 13.6% during the period, while purchase-mortgage volume held steady at 0.2%.

Property insurance now accounts for 9.6% of the average mortgage holder's monthly payment, Intercontinental Exchange reports, up from a low of 7.2% in 2018 and 7.5% a decade ago. 

A recent rise in self-employed individuals is helping drive increased demand for non-QM products such as bank statement loans, according to lenders who recently spoke with Inside Nonconforming Markets.

Figure will be the first U.S. company to use of Sierra’s newly-established Horizon platform, which enables businesses to build agents that can work on complex tasks over longer periods of time.

Two prime agency-eligible deals have begun marketing.

The retail channel accounted for 53.7% of originations in the second quarter.