Even though their businesses depend on Fannie and Freddie, private mortgage insurance providers don’t seem worried about the Trump administration’s efforts to release the GSEs from conservatorship.
Trump’s election win stalled the Biden administration’s effort to impose tougher capital requirements for banks. Federal regulators are likely to continue to work on the reforms, but in a more bank-friendly way.
Refinance lending ended 2024 on a high note as interest rates on mortgages declined in the second half of the year. The purchase-mortgage market saw little growth, most of it driven by first-time homebuyer activity.
The lending affiliate of the Onity Group paused its non-agency operations in Maryland as a new state regulation requires all parties involved in the mortgage lending process to be a licensed mortgage lender.
Cyberattacks against mortgage companies are a growing concern. Insurance can cover some of the financial losses, but premiums are spiraling out of control, some executives report.
WaFd and Ally recently threw in the mortgage towel just as mortgage demand from borrowers is expected to improve and the Trump administration is likely to ease rules for banks.
Originations of first liens increased slightly in the fourth quarter. For the full year, production was up nearly 15% compared with 2023 as lower interest rates helped to boost lending. (Includes two data tables.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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