Commenting on the stubbornly high Ginnie measurement, MBA's Fratantoni noted it shows that recovery is not uniform “and that many are still struggling to gain their footing.”

The proposed rule defines a new activity as any new business line, business practice, or service that the GSEs offer to the market.

A former aide to Sen. Walter Mondale, Johnson – operating the company in the wake of the nation’s savings and loan crisis – recognized early on that Fannie’s future would hinge on conducting more business with  nonbank lenders...

Quicken takes another trip to the repo well...

Might GSE seller/servicers see changes in LLPAs during the coming months? Stay tuned... 

The previous record, $895.31 billion, was set in the third quarter of 2003.

The reason for the decline: Many borrowers saw their forbearance plans expire because they did not contact their servicer. At least, that’s what MBA concluded.

The overall number of loans declined as borrowers whose loans were not in forbearance took advantage of low interest rates to refinance. Ultimately, Fannie’s net forbearance rate only declined about 1.0% in June, WFS said.

At the same time, sales of refi loans in the highest-risk category fell 5.0%. Such loans have LTVs of 81% to 97% and FICO scores of 620 to 699.

Despite what looks like good news, Black Knight warned there are another 800K forbearances reaching the end of their initial six-month terms over the next 30 days...