Agency refinance volume was down sharply in the first quarter but it got off to a faster start than in early 2024. Most measures of agency volume were down, but the share of higher-risk loans was trending higher. (Includes two data tables.)
Is the White House being less than forthcoming about job cuts at HUD and DOGE finding “misplaced” funds at the agency? You decide. But mortgage bankers are getting nervous.
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.
FHFA must turn conservatorship directives into regulations before releasing the GSEs from conservatorship, according to former agency director Mark Calabria. But an explicit guarantee is unnecessary, he said.
Affordable housing advocates say ending the GSE conservatorships administratively won’t relieve the enterprises from the mission-related responsibilities included in their charters and HERA.
Many top-tier sellers in the agency single-family market recorded massive increases in sales of rate-term refinances in the fourth quarter — but the refi market cratered in December.
Old industry hands like Mike Calhoun of CRL and former FHFA acting Director Ed Demarco say getting the GSEs out of conservatorship might be more complicated than the Trump administration believes.
Purchase mortgages and refis increased across the board in the agency MBS market in the third quarter, with the strongest growth seen in refis that carried primary mortgage insurance. (Includes three data tables.)
Ginnie Mae Acting President Sam Valverde believes long-term commitment of resources could allow the agency to do more to address nonbank liquidity challenges.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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