The agency moved to limit the volume of mortgages with buydowns flowing into its MBS program. The restrictions apply only to temporary buydowns, which are less concerning to investors than mortgages with a permanent buydown.

The budget for 2026 proposes cuts to HUD, and handing over responsibility for affordable housing and rental assistance programs to states.

The bill would require communities that have experienced repeat flooding to administer disaster mitigation plans in order for residents to stay eligible for NFIP and for relief from FEMA.

Removal activity had increased in each of the previous four quarters.

Soaring property and tax rates are major contributors to rising FHA delinquencies.

Loan removals from Ginnie Mae MBS in the first quarter were driven by lower borrower payoffs. Meanwhile, loss-mitigation removals hit a three-year peak. (Includes two data tables.)

The recent tightening of FHA loss-mitigation options will likely lead to more early loan buyouts, which PennyMac CEO David Spector sees, at the very least, as a net neutral development for the business.

A week before the Department of Veterans Affairs closed the door on its Servicing Purchase program, it issued some guidance for uncertain servicers, but holes remained.

FHA has rescinded a pair of policies enacted in 2022 that were meant to give owner-occupants an upper hand in foreclosure sales over institutional investors.

The steep property insurance and tax bills driving the rise in FHA late rates are not likely to come down anytime soon, meaning delinquencies will likely stay up too.