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.

The pilot will only be available "in a handful of states."

H.R. 5535, the Insurance Data Protection Act, would eliminate the authority for the Treasury Department’s Federal Insurance Office and Office of Financial Research to issue subpoenas to force insurance companies to provide data to the offices.

FHFA’s report disclosed special purpose credit program activity at the GSEs based on loan count rather than dollar volume.

Ginnie said the new loan-level default data will help it “better understand servicer liquidity stress and loss mitigation outcomes and improve sampling methodologies.”

Refi volume delivered to Ginnie spiked in the first quarter while purchase-mortgage activity declined.

Because this would technically be a new product, it’s subject to FHFA approval and requires a 30-day public notice period.

U.S. Bank originated $7.13 billion of mortgages in the first quarter.