Ultimately, Fitch's long-term issuer default rating on Finance of America went from C to CCC.

Uncertainty regarding election results could cause some interest rate volatility in the near term.

Mr. Cooper and other nonbanks are growing through a mix of in-house originations and acquisitions, with an emphasis on the latter.

Ginnie initially planned on implementing the capital requirements at the end of 2023, along with other reforms.

Rate discounts through the program range from 0.125% to 1.0%.

The issuance is linked to HELOCs that have seasoned for an average of 28 months.

Sam Khater, chief economist at Freddie Mac, suggested that interest rates on mortgages could level off soon.

Despite steady revenues, profits sagged as Fannie provisioned for losses in its multifamily business.

Sam Valverde, acting president of Ginnie Mae, noted that Ginnie and the Department of Veterans Affairs have policies in place to prevent refis that don’t benefit borrowers and they will continue to watch for “abnormal” refi activity.

Annaly Capital Management’s Onslow Bay Financial remained the top issuer of expanded-credit MBS in the third quarter.