Mortgage Daily

Published On: October 26, 2018

Government Mortgage News


FHA profile | Ginnie Mae profile

Last Updated October 26, 2018 9:22 AM Central

 

 

Best Mortgage Lenders By Category
A report based on a recent survey of consumers who were shopping for a residential loan has identified the best home lenders in a variety of categories — including government programs, jumbo loans and online services.Large Agency MSR Offering Hits Market
Bids are being sought for servicing rights on a large portfolio of agency mortgages. The offering has a moderate concentration of Golden State and Sunshine State loans.

Rise in Mortgage Applications Driven by Refinances
Mortgage application volume moved higher last week, and it was refinances that drove the increase. Jumbo rates remained lower than conforming rates — which rose to a seven-year high.

Refinances Wipe Out Weekly Purchase Gains
A nice up tick in purchase financing activity was wiped out by a weekly decrease in refinance business. Similarly, an increase in government volume was more than offset by a drop in conventional activity. 
Conventional drop offsets rise in government

Universal American Whistleblower to Receive $2 Mil
A whistleblower will receive nearly $2 million for her role in a lawsuit alleging Universal American Mortgage Company LLC approved loans for government insurance that didn’t qualify.

FHA Endorsements Edge Higher, Book of Biz Grows
Monthly residential government-insured mortgage production was nudged up, though commercial real estate endorsements plunged. The book of business continued to grow.

Mortgage Rate Forecasts Have Little Change Ahead
Thirty-year mortgage rates moved lower this past week and this past month. Short- and long-term forecasts have little movement ahead for mortgage rates.

Mortgage Credit Conditions Tighten
Average credit scores increased on last month’s mortgage production, while averaged debt-to-income ratios declined. The tighter credit conditions came as refinances continued to make up a diminishing share of mortgage production. Government share maintained.

Mortgage Apps Drop Again, Jumbo-Conf Spread Doubles
For the second consecutive week, fewer applications were completed for home loans. As long-term mortgage rates climbed to a seven-year high, the jumbo-conforming spread doubled. Government share thinned.

3-Yr Low Ginnie Issuance as Book Surpasses $2 Tril
Annual securitizations were the lowest they’ve been in three years at Ginnie Mae. Jumbo issuance plunged by a third, but reverse mortgage activity was higher. The government-owned corporation’s book of business broke $2 trillion.

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