Joe Gormley, Ginnie Mae president and acting FHA commissioner, said recently at the Mortgage Bankers Association’s annual conference in Chicago that the 203(k) renovation program could unlock “a lot of potential,” particularly in urban areas.

Veterans and service members are more willing to buy a home even without an interest rate cut expected within the next year.

Purchase-mortgage volume increased from the second quarter and refi business dropped.

Rocket Mortgage, the largest agency servicer and a nonbank, went the other way, reducing its portfolio during the quarter.

A tool for annual financial reports now pre-populates information for issuers, changing a three-hour process to a 15-minute process, based on two issuers’ anecdotes.

Refinance business dropped and VA volume declined at a faster pace than FHA business.

The U.S. Court of Appeals for the Fifth Circuit upheld a ruling by a Texas district court, determining that Ginnie Mae had the authority to seize Texas Capital Bank’s interest in the tails on home equity conversion mortgages once serviced by Reverse Mortgage Funding.

Refi volume in agency MBS issuance declined by 46.3% on a quarterly basis.

Trade groups said aligning ROV policies across mortgage programs would be preferable.