HECM lending hasn't been this low since before the COVID-19 pandemic...

The Federal Reserve reported $445.78 billion of non-agency MBS outstanding at the end of March, up 2.6% from December.

Lenders delivered $27.21 billion of purchase loans into Ginnie MBS in May, up 7.5% from the prior month.

The termination only applies to activity in the Des Moines, IA, HUD field office.

According to an analysis by Inside Mortgage Finance of data from the Home Mortgage Disclosure Act, Open Mortgage originated $480.9 million of mortgages in 2023, with FHA loans accounting for 38.6% of that volume.

The researchers reviewed DOJ settlements with 17 banks and bank affiliates between 2008 and 2017.

Dubbed HMBS 2.0, the securitization product would give Ginnie MBS issuers a new funding mechanism to buy back loans with balances over 98%.

The VA said Wednesday it is “strongly” encouraging mortgage servicers to extend their pause of foreclosures for VA-guaranteed home loans through the end of this year.

FHA's share of combined FHA/VA lending declined to 60.8% in the first quarter of 2024.

Government-insured production increased by 11.0% compared with the fourth quarter while total first-lien originations were up 3.2% during that time.