A New York appeals court ruled that Wells Fargo cannot seek legal recourse against UBS over a commercial MBS deal, determining litigation was subject to laws in the state where the special servicer is based.
Department of Housing and Urban Development Secretary Scott Turner was evasive as members of the House Financial Services Committee asked him to elaborate on his plans and achievements.
Mortgage rates declined slightly in the government-insured market after the Trump administration directed Fannie Mae and Freddie Mac to purchase a combined $200 billion in agency mortgage-backed securities.
Ginnie Mae issuance of mortgage-backed securities backed by refinance loans zoomed in the fourth quarter to highs not seen since the pandemic boom. (Includes four data tables.)
Rates eased by a few basis points in government markets after the Trump administration announced Fannie Mae and Freddie Mac would purchase a combined $200 billion in agency mortgage-backed securities, even as the industry awaited more details from the federal government.
Ginnie Mae will allow electronic promissory notes to be transferred under its co-issuance program as part of its effort to push more lenders into the digital landscape.
An amendment floated ahead of a planned markup by the House Committee on Veterans' Affairs would raise the funding fee on most VA home loans. The markup was ultimately postponed.