Home prices increased by 0.2% on a monthly basis in January, according to FHFA.

Tomo will use the proceeds to hire additional loan officers, processors and underwriters.

Freddie President Michael Hutchins will step in as interim CEO.

Lawrence Yun, chief economist at NAR, said “the momentum for home sales is flashing encouraging signs.”

The policies established during the Biden administration aimed at addressing bias in appraisal practices.

“In the near term, we expect mortgage rates to remain in a fairly narrow range, between 6.5 and 7%, which should support the spring housing market,” said Mike Fratantoni, a senior vice president and chief economist at the Mortgage Bankers Association.

Originations are up compared with the first quarter of 2024 and Onity could tap a large deferred tax asset this year.

“The CDFI Fund is a targeted, accountable and impactful program that enables private capital to do more for more Americans,” industry trade groups wrote.

“Fannie and Freddie should maintain their affordable housing footprint, including condo, investor and second home loans — without volume caps or fee increases unrelated to risk,” CHLA said.

No immediate replacement was announced for Stanley on Fannie’s board.