Issuance of Ginnie Mae mortgage-backed securities rose 19.2% in the second quarter.

Pending home sales in June declined on an annual basis at a rate not seen in four months.

The proposal aims to address issues similar to those that led to the failure of Reverse Mortgage Funding.

Prepayment rates are expected to be higher than in previous refinance cycles because lenders have bumped up spending on technology to improve recapture rates and loan originators are eagerly anticipating increasing their volume.

Sutherland and NOVAD formed a servicing operation in 2014 to service HECMs on behalf of HUD.

FHA is taking comments through June 24 on a draft mortgagee letter.

Home prices are slowing and an expected decline in interest rates could prompt further changes in the trajectory of home prices.

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.