Economists at Fannie increased their projections for originations, citing "our more optimistic home price growth expectation and somewhat lower mortgage rate path, along with an upgraded expectation for home sales."

Sam Valverde, the principal executive vice president at Ginnie, will serve as acting president following McCargo’s departure.

The deadline to comment on Freddie Mac's proposal to acquire second liens is May 22.

The nonbank share of GSE servicing hit 57.8% as of the end of March, up from a 57.0% share at the end of 2023. Two of the largest banks reduced their GSE servicing during the first quarter. (Includes two data tables.)

Plano, TX-based nonbank NFTN recently failed and its servicing transferred to Ginnie Mae.

Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.

The bulk of the production at the bank comes through the correspondent channel via AmeriHome.

Securitization of closed-end second liens more than doubled in the first quarter of 2024 compared with the previous quarter.

“We believe mortgage banking will provide additional service to our customers and eventually contribute to our profitability,” Bank OZK said.

Freddie Mac is seeking approval to acquire second liens. The Structured Finance Association opposes the proposal, noting that non-agency outlets are providing sufficient liquidity for seconds.