Much of the decline was the result of a change in how Freddie Mac classifies loans subject to a repurchase claim for which the seller has provided a remedy.

The Supreme Court’s decision effectively grants the CFPB authority over the ABS market.

The Mortgage Bankers Association noted some notices of violation sent by HUD’s Mortgagee Review Board seek civil monetary penalties for violations of the National Housing Act, and others mention other administrative actions.

Chris Willis, a partner at the law firm of Troutman Pepper, said the rule is “complex” and has caused a lot of “confusion and misunderstanding.”

Fannie Mae economists forecast “no meaningful decline ” in the 10-year Treasury rate in 2025.

Another positive sign: Usage rates remain in the 50% to 60% range.

The re-proposal elicited just three comments, unlike the flood unleashed by the initial proposal.

Bottom line: The court-approved change is causing confusion for both buyers and sellers.

Gifford, just a few days ago, gave notice to Flagstar that he will be leaving the federally insured depository.

The correspondent channel gained share in the conventional-conforming market during the third quarter of 2024.