Velocity's share price was up modestly Thursday, not too far from its 52-week high of $13.80...

Community Reinvestment Act requirements that traditionally have only applied to depositories will be imposed on nonbanks in New York. The MBA warned that the standards are “unworkable.”

The MBA warned that New York's new requirements for nonbank lenders are "unworkable."

In August, Ginnie sought comments on the capital standards. While some of the changes would apply to all servicers, others would apply specifically to nonbanks, the dominant players in the agency’s MBS program.

Demand for non-agency MBS can be measured by how new issuance prices compare to a benchmark rate.

With interest rates on the rise, refinance volume is expected to drop in 2022. Purchase-mortgage lending could hit a record level, but it won’t fully offset the loss in refis, putting pressure on margins.

Fitch revised its outlook for Provident Funding Associates to negative due to competition in the wholesale channel but upgraded its rating of UMM’s unsecured debt. MISMO is seeking comments on tech that would help obtain MI quotes.

Moody’s is considering increasing credit enhancement requirements and capping ratings for mortgage warehouse lending securitizations that allow for “wet” loans.

Spreads on jumbo MBS widened in recent months as the supply of prime non-agency MBS surged. Redwood Trust opted for more whole-loan sales during the third quarter while JPMorgan Chase remained an active MBS issuer.

Redwood's margin on residential mortgage banking activities in the third quarter of 2021 was 122 basis points, up from 98 bps...