The National Community Reinvestment Coalition accused banks of hypocrisy for filing a lawsuit against new standards under the Community Reinvestment Act.

Ginnie MBS issuance held steady in January compared with the previous month. Refinance volume ticked up and volume involving modified loans was down. FHA loans accounted for 62.9% of issuance. (Includes two data tables.)

On a pre-tax basis, PennyMac’s production segment generated $39.4 million in income in the fourth quarter, up 56.3% from the previous quarter.

The impairment rate on securitized non-QMs increased by more than 100 basis points between August and December.

Fed stays course on MBS sales; SFA close to revising data tape for prime non-agency MBS; MBS on watch for rating upgrades by Fitch; subprime auto ABS impairments rise; commercial MBS delinquencies decline; Fannie sees tighter spreads for latest CRT; Morningstar not ready to give positive commercial MBS credit for “mass timber” construction.

The MBA is taking its concerns about rising costs associated with obtaining credit scores to the FHFA, CFPB and FTC. A CFPB official said the regulator is willing to consider looking into the issue.

Five Democrats in the Senate wrote to the Fed this week pushing for a reduction in interest rates. The senators made their case by citing high costs for mortgages and a limited supply of homes for sale.

United Wholesale Mortgage is offering a 100-basis-point pricing incentive for conventional rate/term refis.

A close reading of the Federal Open Market Committee’s statement Wednesday suggests that the Fed’s next move will likely be a cut, according to the MBA.

The commission structure for real estate agents is poised for a shakeup in the wake of the legal issue facing the National Association of Realtors.