The MBA and California MBA are warning of a “crisis” in California involving property insurance as insurance options decline and premiums increase. A Senate committee also examined property insurance issues, with reactions differing based on party lines.

FHFA’s home price index cools off; MBA’s outlook for interest rates unchanged; Treasury looking into AI use in financial services; trade groups request delay on implementation of overtime rule.

Close to half of the prime non-agency MBS volume in the market since early May has been in GSE-eligible mortgages. Rocket Mortgage is the latest issuer with a GSE-eligible offering, including a number of loans with eNotes.

Nearly 34,000 leases for equipment finance are set to go into a new securitization from ClickLease. The firm focuses on lending to subprime and near-prime borrowers.

Nonbanks handled servicing on the majority of mortgages outstanding for the first time as of the first quarter of 2024. While nonbanks have been the majority servicers in the MSR market for years, the broader servicing tally includes whole loans. (Includes two data tables.)

Cybersecurity insurance is getting more difficult for mortgage companies to obtain and some lenders appear to be unable to meet reporting requirements set by the GSEs on security.

The Fed’s actions Wednesday didn’t change the MBA’s forecast for mortgage rates.

Banks are structuring CRT deals to include stronger mitigants to counterparty risk, which can help to boost the rating for the deal above the rating on the bank itself.

Redfin’s homebuyer demand index declined by 2% on a monthly basis in early June.

The termination only applies to activity in the Des Moines, IA, HUD field office.