Secondary

While the loss coverage is subsequently lower for the notes, totaling $194.2 million, it is expected to be sufficient to cover required rating multiples.

The Department of Housing and Urban Development increased the share of reverse mortgage assets it will give community organizations a first crack at, in line with goals of the Biden administration.

Required use of the Federal Housing Administration’s Catalyst platform may accelerate data collection on valuations from a government agency that’s insuring nearly one-fifth of all purchase loans.

The move generally gets a thumbs up from industry participants, but what can happen in the long-term is uncertain.

Critical defects fell as well, but the percentage that are related to income or employment concerns set a new record, surpassing the one set in the second quarter of last year.

Fitch Ratings’ second quarter numbers suggest even those facing some of the highest repayment hurdles may have been motivated enough by economic improvement to exit before many expirations were due.

The move suggests the government bond insurer doesn’t expect to see loan performance return to normal levels until next summer.

The technology could help firms that have had less access to automation and generally have conducted trades used to hedge loan pipelines by phone.

While overall volume was down in August, it remained historically strong, particularly in the securitized market for home equity withdrawal loans made to borrowers age 62 and up.

But refinance volume was constrained in recent weeks and many of the new offerings are aimed at low income borrowers, the Mortgage Bankers Association said.