Secondary

Mortgage insurer Essent Group reported higher net income for the first quarter of 2016 as premium growth outpaced rising expenses.

Lending standards tightened once again in April, according to the Mortgage Bankers Association.

Mortgage rates are now hovering just above their low point for the year, according to Freddie Mac.

Borrowers who have defaulted in the past are generally considered to be a bigger risk than those who have never missed a payment. Yet the early performance of bonds backed by rehabbed residential mortgages is pretty strong.

Under the Federal Housing Finance Agency's new mortgage modification program, less than 1% of all seriously underwater properties might qualify for principal loan forgiveness, according to RealtyTrac.

Fannie Mae will make a $919 million dividend payment to the U.S. Treasury Department after reporting a first-quarter profit driven by fees for guaranteeing loans against default and credit-related income.

PHH Corp. reported a first-quarter loss of $30 million, which included a $10 million pretax adjustment to the value of its mortgage servicing rights.

Social Finance Inc., whose loan originations have been concentrated in the non-qualified mortgage space, will now offer conforming products after receiving Fannie Mae seller/servicer approval.

The Federal Housing Finance Agency announced Wednesday it had raised a cap on the amount of multifamily loans Fannie Mae and Freddie Mac can buy from lenders, boosting it to $35 billion effective immediately.

Freddie Mac's second quarterly loss in less than a year makes it clear profitability is getting tougher as it shrinks. But it's a concern that must be weighed against more long-term efforts to reduce Freddie's overall credit risk exposure.