There was little detail on the resignation of Fannie Mae director Karin Kimbrough, who departed early last week.

Industry analysts at a discussion hosted by the Bipartisan Policy Center detailed numerous complications involved in ending the conservatorships of Fannie Mae and Freddie Mac.

The GSEs will modify reporting forms in November to allow underwriting based on VantageScore 4.0. Meanwhile, the MBA is working on a proposal that calls for dropping the tri-merge scoring process for certain borrowers.

Trade groups representing credit unions pushed back against suggestions that the institutions are creating risks, and called for status quo on certain GSE policies post-conservatorship.

Michael Hutchins agrees to extend term at Freddie; new general counsel at Freddie; senator seeks answers on FHLBank reform efforts; former FHFA chief operating officer loses appeal.

The mortgage industry appears to be lagging other sectors in adoption of artificial intelligence. Tech providers stress that AI offers lenders potential gains in productivity with limited downsides.

Since mid-2022, the agency has been gaining servicing share with lenders turning to FHA mortgages and loans through the Department of Veterans Affairs.

The last time Chase issued an MBS focused on ARMs from other lenders was 2019.

Much of the increase in impairments in August was tied to new 30+ day impairments, which increased by 59 basis points.

The average interest rate on a 30-year fixed-rate mortgage increased by four basis points from last week to 6.30%.