Capital markets

The company's recently purchased subsidiary, Blue Water Financial, will provide tools for asset pricing, transfer, due diligence and other tasks to ease secondary market trading functions.

Fannie Mae also reportedly took assets from its small senior loan program that were part of RMF's book of business.

But at least one trade group said the Federal Housing Finance Agency needs to be careful to avoid restraining innovation and new product development.

Loans with payments late by a year or more were the biggest sub-category within the distressed portfolios a year ago, but now mortgages that've been late for 30-59 days are.

The final rule also orders the government-sponsored enterprises to give advance notice of new activities to determine if they are subject to these procedures.

The additions in 2022 put it in the ranks of the top 25 players in the business, according to the company.

Raising the threshold for qualification for Home Ready and Home Possible, which additionally offer price breaks to lenders, could do more to make homeownership more equitable, the Mortgage Bankers Association wrote in a letter to the Federal Housing Finance Agency.

In a report to Congress, the agency recommended sharing information with the Consumer Financial Protection Bureau, which also is looking more closely at servicemember mortgages.

Lenders added jumbo and adjustable rate mortgage products during November, both of which have had lower interest rates than conforming loans, the Mortgage Bankers Association said.

The products are currently limited to a single distribution channel, but the company hasn't ruled out offering them through third-party originators in the future.