A coalition of 23 housing groups offered an enthusiastic endorsement of Scott Turner as secretary of the Department of Housing and Urban Development.

The CFPB suggested that First Street Foundation does a better job of identifying flood risk than the Federal Emergency Management Agency.

The top-five Ginnie MBS issuers in 2024: Freedom, PennyMac, UWM, Rocket and Newrez. All are nonbanks.

Property insurance costs are expected to increase due to the LA-area fires.

The nomination hearing for Scott Turner to lead HUD is scheduled for Jan. 16.

VA refis in Ginnie MBS issuance more than doubled on a quarterly basis in the fourth quarter and FHA refi volume was up almost 50%. On an annual basis, Ginnie MBS issuance increased by nearly 20% in 2024.

Many analysts are projecting increases for issuance of MBS and ABS in 2025. Delinquencies are also expected to rise, though not to troublesome levels.

Rick Jones, a longtime industry lawyer, wants commercial MBS participants to strike a grand bargain, including changes to servicing practices and moves to increase demand from investors.

DOJ sees no issues for MBS, ABS from new rule restricting foreign access to Americans’ personal data; Momnt Technologies 2023 ABS issuance facing performance issues; Redwood rebrands prime residential mortgage aggregation unit to match MBS shelf.

While the bank was a big player in the mortgage market before the financial crisis of 2008, its mortgage business has been limited more recently.