Mortgages

Over the past two weeks, the 10-year Treasury yield, priced on market expectations, increased over 40 basis points and that is finally being seen in the Freddie Mac survey.

Nonagency issuances are expected to increase 85% for this year over 2023, and rise another 36% in 2025, the second best since the financial crisis.

Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.

The proposal is one of several that aims to address difficulties managing early buyouts from mortgage-backed securities pools.

The second-lien loans face low recovery post-default, especially if home prices drop.

But the Federal Housing Administration program was the only mortgage loan type to gain market share month-to-month as measured by rate lock percentage.

The company's closure comes in a year when it touted successful capital investments but also faced growing legal scrutiny.

The share of underwater mortgages also grew for the first time in almost two years during the third quarter, Corelogic found.

The average cost for a loan seller to buy back a mortgage from Fannie Mae or Freddie Mac for defects is over $32,000, a study from Reggora and Stratmor found.

The group is calling for the Trump administration to preserve certain features if it picks up where it left off and finishes cutting ties to the Treasury.

The latest plans include details on promoting housing development in underserved areas and increasing secondary market access to rural institutions.

For the second time in the past three weeks, the 30-year fixed mortgage moved lower, but investors want clarity about U.S. economic policy, Freddie Mac said.

The deal comes about 18 months after Maritime Partners completed its securitization of Jones Act shipping business revenue, raising $235.3 million.

Government securitization guarantor Ginnie Mae got the terms for the popular HMBS 2.0 program across the finish line ahead of a major change in federal leadership.

Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

Critical defects increased for the second consecutive three-month period, with appraisal-related errors nearly doubling, Aces Quality Management said.

Those born between 1997 and 2012 will go from making up a scant 6% of today's market to a 25% share by 2028, and mortgage lenders need to be ready to serve them.

Some lenders are once again hiring mortgage lenders, but memories of the painful staffing cuts they were forced to make over the past two years remain top of mind.

Private-label securitization volume increased 75% this year versus 2023; conditions are right for that to continue, KBRA said.