GSE MBS issuance involving purchase mortgages (and refis) crested in June. Issuance volume declined by 10.4% on a monthly basis in July, though activity at the lender level was far from uniform. (Includes two data charts.)
Industry groups, even those that support FHFA’s plan to revamp how credit scores work in the mortgage space, urge the agency to take more time with implementation.
The controversial proposed capital rule for large banks sets a 75% loss given default rate for GSE debt issued but not guaranteed by the GSEs. For the debt guaranteed by the GSEs, the LGD rate will be 25%.
A new capability in Loan Product Advisor’s asset and income modeler allows lenders to directly access a borrower’s Schedule C income via IRS tax transcripts.
FHFA joined the rest of the Biden administration in a government-wide effort to keep renters in their homes, but some stakeholders say one-size-fits-all solutions won’t work.
Errors in the model Fannie uses to calculate income during a stress test led the enterprise to underestimate profits in both its 2021 and 2022 stress tests.
New research shows that when mortgage companies use minority actors in their TV ads, viewers are more likely to apply for a loan with that lender. Borrowers also showed more brand favorability.