Earlier in his career, Jones was a staffer in the Senate and he was an associate vice president of government housing finance at the Mortgage Bankers Association from early 2023 through early 2025.
Ginnie guaranteed $49.44 billion of MBS in August, a 3.0% decline from July. Refinance volume declined 13.6% during the period, while purchase-mortgage volume held steady at 0.2%.
The effort aims to “address crucial workplace and mission needs by eliminating redundancies, streamlining and increasing flexibility in work processes and consolidating administrative functions.”
MBA CEO Bob Broeksmit came to the defense of the FHA program and nonbank participants after the Wall Street Journal’s editorial board suggested nonbanks had engaged in risky underwriting under the government guarantee.
Industry groups — including the Community Associations Institute, the Community Home Lenders of America and the National Association of Realtors — made their displeasure about the change to condo loan applications known in a recent joint letter to Federal Housing Finance Agency Director Bill Pulte.
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