The National Home Price Index gained 6.3% in April on an annual basis.

The FHA plans to continue to assess its life-of-loan mortgage insurance premium but will consider making changes to the policy in the future.

Changes in underwriting standards for non-QM loans are a slippery slope, according to investors.

Many of the top depository institutions reduced their production in the first quarter.

The rule has been in the works for 14 years.

Harris Trifon, a partner and portfolio manager at Lord Abbett, an investment management company, said non-QM delinquencies are not “raising alarm bells” for him.

Fannie economists now only expect one rate cut by the Fed this year, possibly in December.

The mortgage delinquency rate declined to 3.04% as of the end of May, down from 3.09% at the end of April, according to Intercontinental Exchange.

Freddie saw the bigger monthly increase in MBS output, up 9.4% from April. Business was up 6.3% at Fannie.