Private MI captured 48.3% of insured purchase loans sold to Fannie, Freddie and Ginnie during the second quarter. Deliveries of VA loans spiked 55.5% higher from the first quarter.
Mortgage Grapevine: MSR auctions have been few and far between of late, but all that may soon change. Meanwhile, Stearns Lending has secured the cooperation of its largest bondholder, PIMCO, to reduce its debt load. Now, it's just a matter of time and working with the bankruptcy court.
The MBA and ABA made recommendations to strengthen practices and procedures of FHA’s loan-asset sales as the agency moves to make the program permanent.