Lenders must conduct desk reviews of appraisals based on FHA standards...

Steve Harris of MIAC: “There are many folks looking to hedge, but only until they can sell into a reasonable [MSR] bid.”

Although the outlook for mortgage-investing REITs has improved since the Fed began buying agency MBS in March, it has not necessarily been evident in their dividends.

Ginnie Mae said it is concerned that issuers could abuse buyouts and "undermine the integrity of the MBS program."

According to figures compiled by Inside Mortgage Finance, consumers owe roughly $11.168 trillion on their home mortgages, which (based on the MBA measurement) means $947.1 billion in residential debt is at risk.

“The agency may therefore continue to operate, but its director, in light of our decision, must be removable by the president at will,” according to the majority opinion, written by Chief Justice John Roberts.

Timing is everything. The majority of the loans, 63.0%, went into forbearance status in April and many of these borrowers may have already made their May payment.

The supply of single-family MBS issued by Fannie Mae, Freddie Mac and Ginnie Mae grew another 1.4% in the first quarter, hitting $7.134 trillion.

MBA hopes to return to large in-person conferences next year.

The interim final rule goes into effect July 1...