Among a group of large lenders, the broker share of the government-insured market declined to 20.4% in the third quarter, down from 21.2% in the second quarter.
An inspector general identified counterparty risk related to protecting FHA’s Mutual Mortgage Insurance Fund as one of HUD’s top management challenges for 2024.
HUD's IG questioned whether Ginnie could relocate a troubled MBS portfolio from one issuer to another if the first is facing financial or operational challenges.
“We have shown it is possible to meet the mission while also being fiscally prudent and being a good steward of taxpayer funds,” said FHA Commissioner Julia Gordon.
The average credit scores for new originations of FHA mortgages declined somewhat after BofA and JPMorgan Chase ceased correspondent aggregation in the market.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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