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Refi Business With Primary MI Jumps in First Quarter

April 10, 2024
Namrata Bhatia
The share of refis with MI coverage in the agency MBS market grew from 10.3% in the fourth quarter of 2023 to 14.6% in the first quarter.
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Short Takes: 10-Year Treasury Rate Spikes / FHFA, State Regulators to Share Info on Nonbanks / Applications for Purchase Mortgages Decline / Fannie Selling NPLs

April 10, 2024
Brandon Ivey
Inflation figures for March were higher than anticipated, leading to a spike in the 10-year Treasury yield.
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Fairholme GSE Lawsuit Is Over; Time for the Appeal?

March 21, 2024
Dennis Hollier
Now that Judge Lamberth has issued his memorandum and order, the litigants can prepare for the (inevitable?) appeal.
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Short Takes: Foreclosures Decline / MSR Offering / New CEO at AmeriHome / Details on Fannie’s NPL Sale

March 13, 2024
Brandon Ivey and Paul Muolo
Foreclosure activity declined by 1% on a monthly basis in February.
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Biden Administration in No Rush on GSE Reform

March 12, 2024
Brandon Ivey
President Biden's budget proposal for fiscal year 2025 included a brief section addressing the future of the housing finance system.
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FHFA Plans to Revise Survey of Borrowers

March 12, 2024
Dennis Hollier
FHFA said changes to the survey will help to inform its oversight of the GSEs and Federal Home Loan Banks.
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Short Takes: Biden Proposes Mortgage Tax Credit / Mixed Pricing Trends for Fannie’s CRT / New CRT From Freddie / Bank’s ARMs Go Into Annaly MBS

March 8, 2024
Brandon Ivey
President Biden proposed a tax credit of $400 a month to put toward a mortgage.
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Fannie Offers Money-Saving Features in Desktop Underwriter

March 7, 2024
Dennis Hollier
As long as it has at least 12 months of data, a single asset verification report will now be sufficient to validate a borrower's income, employment, assets, and positive rent payment and cash flow history.
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Short Takes: New Cybersecurity Reporting Requirement / Biden Pressed on Affordable Housing / Non-QM Delinquencies Not Leading to Many Losses / New CRT From Fannie

March 5, 2024
Brandon Ivey
Effective immediately, Ginnie issuers must notify the agency of any cybersecurity incident within 48 hours after the issue is detected.
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FHFA Aligns Timelines for Credit Score Transition

March 1, 2024
Dennis Hollier
“Synchronizing bi-merge credit reporting with the implementation of the new credit score model requirements will reduce complexity for market participants,” said FHFA Director Sandra Thompson.
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