Non-agency market participants have concerns about lender’s choice, but also expect modern credit scoring models to improve visibility into borrower credit behavior.
Seth Appleton, president of USMI, promptly announced the PMI trade group’s support for Pulte’s efforts to align the GSEs’ policy regarding mortgage insurance.
The yield on the 10-year has increased from 4.8% at the beginning of the Trump administration to above 5.0% this week, even with recent efforts by the Treasury aimed at lowering the yield, such as bond buybacks.
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.
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