Former GNMA chief Michael Bright: “Let’s say you’re going to do it. I think you’re going to have to lie to someone."

The disclosures include VantageScore scores from all three credit reporting companies — TransUnion, Equifax and Experian.

The bank share of agency servicing fell to 34.5% as of the end of June.

Bright suggested reducing the loan limits that apply to deliveries to the government-sponsored enterprises.

Some $77.98 billion of purchase mortgages without MI were included in agency MBS issued in the second quarter, a 35.1% increase compared with the first quarter.

The top five GSE sellers saw their market share jump from 33.5% in the first quarter to 36.7% in the second.

“This is ultimately giving each and every market participant a chance to see what the new score will look like, to see what the GSEs are proposing in terms of calculating a representative score,” said Anthony Hutchinson, a senior vice president of industry and government relations at VantageScore.

The share of loans with a credit score of 740 of above increased from 69.65% for deliveries to the GSEs in the first quarter of 2024 to 70.80% in the second quarter.

As soon as July, FHFA plans to issue a proposed rule that would establish standards for the GSEs related to returns on capital for new single-family mortgage acquisitions.

With the new securitization, Rocket's non-agency issuance of closed-end second liens will hit $2.19 billion for the year.