The Community Mortgage Lenders of America released a clarification about a meeting with officials from the Department of Housing and Urban Development and Ginnie Mae. Scott Olson, executive director of the Community Home Lenders Association, stressed that the trade group didn’t make the statements that were attributed to CHLA in the initial release by CMLA or in the subsequent reporting by IMFnews.
Craig Phillips plans to stay at the Treasury Department until the agency's housing finance reform plan is drafted. President Trump noted that "many geniuses" will contribute to the plan.
In the first quarter of 2019, the average credit score for retail production included in agency MBS was 725.97, 7.3 points higher than the average for correspondent production and 7.5 points above the figure for brokers.
PennyMac founder and Executive Chairman Stan Kurland: "While the correspondent market remains competitive, margins appear to be stabilizing as they were essentially unchanged from the prior quarter at 29 basis points..."
To date, Fannie has upstreamed $179.0 billion in quarterly dividends to Uncle Sam versus assistance draws of $118.9 billion, giving it an account surplus of $59.2 billion...
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