It doesn’t help that the Federal Housing Finance Agency is simultaneously trying to implement a bi-merge to replace the tri-merge method.

Ginnie initially planned on implementing the capital requirements at the end of 2023, along with other reforms.

Rate discounts through the program range from 0.125% to 1.0%.

The issuance is linked to HELOCs that have seasoned for an average of 28 months.

Sam Khater, chief economist at Freddie Mac, suggested that interest rates on mortgages could level off soon.

Sam Valverde, acting president of Ginnie Mae, noted that Ginnie and the Department of Veterans Affairs have policies in place to prevent refis that don’t benefit borrowers and they will continue to watch for “abnormal” refi activity.

The REIT is off slightly from its pace in the second quarter. However, executives are optimistic that rising product demand and bank partnerships should continue to spur growth.

A decline in interest rates and more housing inventory helped to increase pending home sales in September.

The average estimated guarantee fee on Freddie’s new single-family business in the third quarter was 57 basis points, up 3 bps from the second quarter.

“Candidly, we have to figure out a way to get our equity price to trade where it should trade,” said Michael Nierenberg, chairman, CEO and president of Rithm Capital.