The Treasury Department announced $100 million in affordable housing funding, while HUD named recipients of its Pathways to Removing Obstacles to Housing grant competition.
Banks reduced their non-agency jumbo lending in the early months of 2024, with nonbanks picking up some of the slack. Deliveries of high-balance mortgages into agency MBS also declined in the first quarter. (Includes three data tables.)
The private market is providing adequate liquidity for closed-end second liens, according to the American Bankers Association. The trade group also questioned Freddie Mac’s motivations for a proposal to acquire seconds.
Waiting for the Federal Reserve to cut interest rates is a bit like waiting for Godot. It seems as though a cut in rates may never come. Still, there is some improvement in volumes and margins in the non-QM sector.
As many as 88,000 individual tax identification number mortgages could be originated in a year if certain market barriers were removed, according to Urban Institute researchers.
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