The Mortgage Bankers Association and the National Association of Home Builders want Congress to grant the Federal Home Loan Banks authority to guarantee and issue mortgage-backed securities, and their proposals are stimulating debate within the FHLBank community.The Council of Federal Home Loan Banks included a discussion about mortgage securitization at its winter meeting in Ft. Lauderdale, Fla. "We had a really, really good discussion," council president John von Seggern said. But he made it clear that the council is not ready to take a position. "I don't think this is the kind of decision that we should rush," he said. America's Community Bankers has not taken a position, managing director Robert Davis said. "It is not obvious to us that it is a necessary or a good idea," Mr. Davis said. Congress will be considering legislation to place the FHLBanks under the same regulator as Fannie Mae and Freddie Mac. The MBA and the NAHB believe the FHLBanks could increase competition in the MBS market, which is dominated by Fannie and Freddie.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18