The upper ranks of FHA management have been thinned out by resignations over the last year, and the Senate’s on crunch time until midterms, meaning there’s a chance Ginnie Mae president Joe Gormley could be helming both agencies for a while.
Provisions designed to increase borrower awareness of the availability of home loans backed by the Department of Veterans Affairs remain in an expansive housing bill that Congress could pass as soon as next week. The MBA has expressed operational concerns.
The broker share of government originations increased somewhat on a quarterly basis, mostly poaching market share from the retail channel. (Includes one data table.)
Veterans were more likely than civilians to say they would be comfortable using artificial intelligence in the mortgage process, according to a survey commissioned by Veterans United.
Ginnie Mae reminded security holders last week that they have the ability to collapse a security group within a multiclass transaction on short notice, an option the agency said has been underutilized.
Radian’s strategy to maximize value from its policies has led it to focus on lower-income first-time homebuyers and balance the higher risk with strong fundamentals like promising home price appreciation.
Mortgage denial rates increase significantly for applicants with debt-to-income ratios above 50%, according to researchers at the Federal Reserve Bank of St. Louis.