The Fed will reduce its purchases of agency MBS more quickly than initially planned; the Senate confirmed Alanna McCargo as Ginnie Mae’s president; Parthenon Capital Partners will acquire a majority stake in Kroll Bond Rating Agency; KBRA raises concerns about non-agency MBS due diligence sampling practices; United Wholesale offers its first non-agency jumbo MBS.
Federal regulators provided status updates on several current and pending mortgage-related rulemaking initiatives. But revisions to the qualified-mortgage standards were missing from the CFPB’s agenda.
Low-income first-time homebuyers face higher closing costs than others receiving purchase mortgages, according to economists at Fannie Mae. The GSE is suggesting changes that could fix some of that.
An appraisal company failed to note that improvements to a refinanced property happened to encroach on neighboring land, but the lender, First Community Mortgage, couldn’t pin losses on the appraiser.
Start-up mortgage lender Beeline completes Series A funding; HouseCanary publishes report defending its AVM; DC attorney general introduces legislation aimed at the use of algorithms by companies in the housing sector; LoanLogics acquires LoanBeam.
The latest MBS from Blackstone includes non-agency mortgages for investment properties from various lenders. The firm’s pre-pandemic non-agency MBS were backed by loans from Finance of America.