In the agency MBS market, refi volume with primary MI was up sharply at both the government-sponsored enterprises and the Department of Veterans Affairs, while FHA volume lagged to some extent.

FHFA Director Pulte frustrated by credit bureaus; mortgage locks decline in December; Mr. Cooper plans layoffs in California.

President Trump this week said he plans to ban large institutional investors from acquiring single-family homes. SFR securitization volume hit $8.65 billion last year.

As long as the GSEs are profit-seeking entities, Urban Institute analysts suggest that allowing Fannie and Freddie to buy large amounts of agency MBS would leave the GSEs “with every incentive to swell their balance sheets to enormous levels during these periods of volatility.”

The Mortgage Bankers Association expects mortgage rates will remain in a narrow band this year while Fannie Mae forecasts declines.

Appraisal reforms included in a Senate-approved housing package didn’t make it into a housing bill moving through the House. Meanwhile, the MBA raised concerns about the reforms in the Senate legislation.

Some Democrats in Congress have also sought to limit institutional investment in the single-family market in recent years.

The incentive is tied to the 40th anniversary of the lender.

Five non-agency mortgage-backed securities started marketing Wednesday.

Interest rates on mortgages at the beginning of 2026 were at a level last seen in September 2024.