Fannie, Freddie and Ginnie saw a modest 4% increase in purchase-mortgage business during the third quarter, not nearly enough to offset the ongoing collapse in refinance activity. (Includes two data charts.)
Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
The ratings outlook for Fannie Mae, Freddie Mac and two of the FHLBanks have been upgraded from negative to stable, reflecting strong economic growth and heightened government support.
There’s not much left at non-agency lender Sprout Mortgage but there are plenty of rumors, none of them good. Meanwhile, mortgage fintech Better.com has been adding senior managers.
Rising mortgage interest rates are crushing the refinance market and creating headwinds for a struggling housing market. Agency single-family business in the second quarter sank to a three-year low. (Includes two data charts.)