“There have been just two months in the past decade with fewer home sales [than in May 2024]: October 2023, when mortgage rates jumped to a 23-year high, and May 2020, when the onset of the pandemic brought the housing market to a halt and home sales to a record low,” Redfin said.

Lenders delivered $27.21 billion of purchase loans into Ginnie MBS in May, up 7.5% from the prior month.

Banks are structuring CRT deals to include stronger mitigants to counterparty risk, which can help to boost the rating for the deal above the rating on the bank itself.

Redfin’s homebuyer demand index declined by 2% on a monthly basis in early June.

Panelists spoke Tuesday at an event hosted by the Bipartisan Policy Center.

It’s the first non-agency MBS with a significant amount of electronic promissory notes, according to Moody’s Investors Service.

If the CFPB's proposed ban on medical debt on credit reports is established, the agency estimates that it could lead to approximately 22,000 additional home loans per year.

The growth came largely from purchase-mortgage lending.

VA stressed that borrowers should still negotiate their buyer-broker fee and that homebuyers can still ask sellers to pay the fees at closing.

SPS, which has been servicing residential loans since 1989, handles a portfolio of about $180 billion, largely of loans in non-agency mortgage-backed securities.