After the housing crisis and faced with a flood of insurance claims, FHA and the Department of Justice responded with enforcement efforts against lenders that had made underwriting mistakes , levying large fines, requiring more indemnification, and bringing claims of fraud under the False Claims Act. Urban Institute (UI) analysts Jim Parrott and Laurie Goodman write that this generated confusion among lenders, first because they hadn't faced such enforcement actions in the past and second because the rules weren't being applied consistently or predictably. Many, especially the large, well-capitalized ones, cut back, sometimes dramatically, on FHA lending and eventually newer, often less capitalized lenders filled the gap, leading to a shift in counterparty mix. This makes the FHA market less

June 21, 2019 Download our Mobile App: Download our Mobile App: Housing News Many Larger Lenders Cut Back on FHA Lending Due to False Claims Act After the housing crisis and faced with a flood of insurance claims, FHA and the Department of Justice responded with enforcement efforts against lenders that had made underwriting mistakes , levying large fines, requiring more indemnification, and b... (read more) MBS Commentary MBS Live Day Ahead: Start Preparing For Bigger Moves Ahead In the day just past, bonds initially extended the post-Fed gains with 10yr yields briefly hitting 1.973% before bouncing to end unchanged on the day.  The selling was almost exclusively motivated by technicals and tradeflows with the average bo... (read more) Mortgage Rate Watch Mortgage Rates Hit New Long-Term Lows, Then Bounce Mortgage rates plunged today as the bond market extended its positive reaction to yesterday's Fed announcement. The Fed doesn't set mortgage rates, but the market's expectation of Fed rate-setting policy has a major impact. In other words, because th... (read more) Housing News Existing Home Sales and Inventory Bouncing Back - Prices Too Existing home sales broke out of a two-month slump in May, rising by 2.5 percent compared to April and beating, by a considerable margin, analysts' consensus expectations. The National Association of Realtors® said sales of single-family homes, t... (read more) Rob Chrisman Non-Agency Product; Fannie/Freddie Updates; VA IRRRL Reminder/Clarification That mortgage prices change every day, and often during the day, is about as surprising as sheriffs finding marijuana on Willie Nelson’s tour bus. Price changes have an immediate impact, and I knew that I’d receive plenty of phone calls f... (read more) Housing News Delinquency Rates Down Overall, but Larger Cities Feel More Pressure While the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an annual basis. The delinq... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.91% +0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.91% +0.05 0.00 15 Yr. Fixed 6.22% +0.03 0.00 30 Yr. FHA 6.29% +0.04 0.00 30 Yr. Jumbo 7.02% +0.02 0.00 7/6 SOFR ARM 6.45% 0.00 0.00 30 Yr. VA 6.30% +0.03 0.00 Updates Daily - Last Update: 5/8 15 Yr. Fixed Rate 6.22% +0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.76% 0.00 0.00 15 Yr. Fixed 5.89% -0.03 0.00 Updates Weekly - Last Update: 5/8 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.89% -0.01 0.00 15 Yr. Fixed 6.17% -0.03 0.76 30 Yr. Jumbo 6.88% -0.02 0.60 Updates Weekly - Last Update: 4/30 MBS / Treasuries UMBS 30YR 5.5 99.11 0.00 Price / Yield Change MBS UMBS 5.5 99.12 +0.01 UMBS 6.0 101.00 +0.03 GNMA 5.5 99.41 +0.03 GNMA 6.0 100.84 +0.04 Pricing as of: 5/9 8:17AM EST 10 Year US Treasury 4.3853 +0.0083 Price / Yield Change US Treasury 2 YR Treasury 3.866 -0.008 5 YR Treasury 3.978 -0.009 7 YR Treasury 4.173 -0.008 10 YR Treasury 4.383 +0.006 30 YR Treasury 4.856 +0.023 Pricing as of: 5/9 8:17AM EST Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Calculated Risk Blog Hotels: Occupancy Rate Decreased Year-over-year CNBC The 6 US cities where it's easiest to buy a home on an average salary Calculated Risk Blog Q2 GDP Forecasts: Around 2% Reuters Fed's Brainard says risks bolster argument for lower-than-expected rates Bloomberg U.S. Factory Index Falls to Fresh Nine-Year Low Reuters Two Fed policymakers sound inflation alarm, call for rate cuts Reuters U.S. markets regulators reach deal on Dodd-Frank swaps capital rules builderonline.com Smaller Towns Becoming More Popular Thanks to Housing Crunch CNBC A Fed president explained why he was the lone member who wanted an 'insurance' cut this week Bloomberg Dollar Bear Market Called as Gundlach Sees Moment of Truth Bloomberg This Year's G-20 Will Be a Faceoff Between Trump and Xi CNBC Federal Reserve's quick pivot to easier policy started with a Trump tweet on trade Bloomberg Powell May Have Outed Himself on the Dot Plot as Seeing Lower Rates - Bloomberg

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.