The first-quarter slump was largely confined to bulk sales of Fannie and Freddie mortgage servicing rights.

Sam Valverde, the principal executive vice president at Ginnie, will serve as acting president following McCargo’s departure.

Sam Khater, chief economist at Freddie Mac, described the issue as “urgent, but manageable,” an opinion shared by others at the conference hosted by Americatalyst.

Denis McDonough, secretary of the Department of Veterans Affairs, said VA’s track record on mortgage financing is the best in the industry and that foreclosures among VA borrowers are extraordinarily rare.

The deadline to comment on Freddie Mac's proposal to acquire second liens is May 22.

The share of mortgages with primary MI increased by 2.1% in the first quarter, based on agency MBS issuance.

The bulk of the production at the bank comes through the correspondent channel via AmeriHome.

Securitization of closed-end second liens more than doubled in the first quarter of 2024 compared with the previous quarter.

The decision to revive the pilot came just days before President Biden’s State of the Union address.

“We believe mortgage banking will provide additional service to our customers and eventually contribute to our profitability,” Bank OZK said.