Pulling the strings behind the non-QM curtain: A giant named PIMCO...

Ginnie also announced new requirements for users of its systems...

“Many banks and nonbanks have pulled back on the aggressive lending terms and conditions they offered in the prior 12 to 18 months,” said one financial services executive...

S&P and dv01 cited concerns about how mortgage servicers and trustees are handling the reporting of non-QMs in terms of delinquency and forbearance...

Thanks to the economic carnage caused by the pandemic, interest rates continue to drift lower, with some originators offering 30-year FRMs at under 3.0% and 15-year mortgages below 2.0%.

For HUD, the central question boils down to this: Will the MMIF have enough cash on hand to weather what could turn out to be a delinquency tsunami on the FHA book of business?

The trade group also argues the patch should not be tied to the end of GSE conservatorships...

But there was good news. Thanks to the origination boom, the company’s new insurance written jumped to $25.5 billion in 2Q20, a sequential gain of 52.7%.

In 2Q20, Fannie and Freddie acquired $104.07 billion of loans with DTI ratios greater than 43%, up 40.9% from the previous quarter.

The Caliber CEO recommends patience in reopening offices, saying opting to wait has kept his employees safe from the surge of COVID-19 cases in Texas...