A small group of VA approved issuers have been warned that the speed at which their loans are being prepaid makes it appear they are participating in "churning." Ginnie Mae said on Thursday that the issuers who have been notified are expected to deliver a corrective action plan that identifies immediate strategies to bring prepayment speeds in line with those of loans issued by their peers. In January, a Ginnie Mae official testified before hearing of the House Committee on Veterans Affairs about loan churning. He told committee members that, starting in early 2016, the agency, as well as investors in its mortgage backed securities (MBS), began to note that loan prepayment rates and serial refinancings were occurring with unusual frequency among VA mortgages. Some of the prepayments were at

February 9, 2018 Download our Mobile App: Download our Mobile App: Housing News Issuers Warned to Keep Prepayment Speeds in Line or Risk Sanctions A small group of VA approved issuers have been warned that the speed at which their loans are being prepaid makes it appear they are participating in "churning." Ginnie Mae said on Thursday that the issuers who have been notified are expected to deli... (read more) Rob Chrisman Mortgage Cryptocurrency; Lender and Agency FHA, VA changes; Ginnie Names Names Here’s a riddle for tonight’s Happy Hour for snowed-in Chicagoans: What do New Day Financial, Nations Lending Corp., Freedom Mortgage Corp, LoanDepot.com LLC and Flagstar Bank have in common? Answer: they were singled out by Ginnie Mae as... (read more) MBS Commentary MBS Live Day Ahead: How Much Would Bonds Need to Rally to Suggest a Broader Bounce? The short answer is "to 10yr yields below 2.66% and ideally below 2.49%."  Those are the levels we'd need to see in order to suggest a more substantial move lower in rates.  Unfortunately , the more germane questions involve rates on the... (read more) Mortgage Rate Watch Mortgage Rates Higher Still; Intraday Volatility Increasing Mortgage rates continued higher today, bringing the average 30yr fixed rate to another new multi-year high. That said, rates may vary quite a bit from lender to lender for several reasons. First, intraday volatility is back with a vengeance. For much... (read more) Housing News Delinquencies Up for All Loan Types; FHA Loans Hardest Hit The National Delinquency Survey (NDS), a quarterly measure of mortgage performance from the Mortgage Bankers Association (MBA), found delinquencies in the fourth quarter of 2017 had increased both quarter over quarter and year-over-year . The NDS fin... (read more) MBS Commentary MBS Live Recap: How To Win Friends By Humiliating Them Publicly Everyone likes an intellectual bully, right?  Well, not really, but everyone likes the person that knows what's up and isn't shy about articulating facts in a calm but confident manner--especially when those facts run contrary to pervasive group... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.72 +0.08 Price / Yield Change MBS UMBS 5.5 99.73 +0.09 UMBS 6.0 101.52 +0.09 GNMA 5.5 99.93 +0.08 GNMA 6.0 101.42 +0.08 Pricing as of: 7/6 10:20PM EST 10 Year US Treasury 4.3339 -0.0128 Price / Yield Change US Treasury 2 YR Treasury 3.855 -0.028 5 YR Treasury 3.911 -0.026 7 YR Treasury 4.103 -0.022 10 YR Treasury 4.331 -0.016 30 YR Treasury 4.865 +0.002 Pricing as of: 7/6 10:20PM EST Latest Video Ed Yardeni on the return of bond vigilantes Dow trades in 800-point range as volatility continues High-yield weakness plays out in ETFs Around the Web Calculated Risk Blog Lawler on Prime Working Age Population CNBC Stock and bond markets are doing a strange thing that is reminiscent of the 1987 crash consumerfinancemonitor.com House Again Passes Legislation to Review Points and Fees CNBC The worst of the bond rout is yet to come, says Piper Jaffray Bloomberg BOE's Broadbent Says Rate Path Slightly Higher Than in November Calculated Risk Blog Housing: Inventory is Key NAHB Eye on Housing Driverless Cars Have Potential Market NAR - Realtor.com Will It Become Harder to Afford a Home? Experts Say Yes CNBC Wholesale inventories grew more than expected in December Calculated Risk Blog Merrill: "The $1 trillion dollar budget deficit" Freddie Mac Freddie Mac Prices $710 Million Multifamily K-Deal, K-HG1, Backed by Properties Controlled by Harbor Group International, LLC Reuters Trillion-dollar risk lurks if market volatility doesn't abate consumerfinancemonitor.com Mulvaney announces new CFPB Chief of Staff

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