The lending affiliate of the Onity Group paused its non-agency operations in Maryland as a new state regulation requires all parties involved in the mortgage lending process to be a licensed mortgage lender.

FHFA must turn conservatorship directives into regulations before releasing the GSEs from conservatorship, according to former agency director Mark Calabria. But an explicit guarantee is unnecessary, he said.

Affordable housing advocates say ending the GSE conservatorships administratively won’t relieve the enterprises from the mission-related responsibilities included in their charters and HERA.

Many top-tier sellers in the agency single-family market recorded massive increases in sales of rate-term refinances in the fourth quarter — but the refi market cratered in December.

Old industry hands like Mike Calhoun of CRL and former FHFA acting Director Ed Demarco say getting the GSEs out of conservatorship might be more complicated than the Trump administration believes.

Purchase mortgages and refis increased across the board in the agency MBS market in the third quarter, with the strongest growth seen in refis that carried primary mortgage insurance. (Includes three data tables.)

Ginnie Mae Acting President Sam Valverde believes long-term commitment of resources could allow the agency to do more to address nonbank liquidity challenges.

The agency market may need continued growth in refinance lending to sustain the third quarter’s increase in single-family business. Fueled by surging refi volume, Ginnie grew its share of agency MBS issuance. (Includes two data tables.)

Insurance companies were some of the largest originators of mortgages when the FHLBanks were created, but that’s no longer the case.

Researchers find that the climate-related increase in flood damage will boost the cost of subsidizing federal mortgage programs by 44% over the next 30 years. That doesn’t include the costs to homeowners, lenders, insurers or MBS investors.