Interest rates on mortgages increased to a level last seen in July 2024.

The securitization rate for residential mortgages hit an estimated 68.6% in the third quarter, as more conventional-conforming loans flowed into GSE MBS.

Ginnie Mae increased its employee base by 25% on an annual basis in fiscal year 2024. Still, the agency is reliant on contractors, which accounted for more than 80% of Ginnie’s expenses.

After noting a decline in market share during the second quarter, nonbanks increased their share of originations to 65.5% in the third quarter. The increase was driven by the largest nonbanks.

The increase in broker originations was largely driven by two lenders: United Wholesale Mortgage and PennyMac Financial.

The refi share of applications was as high as 55.7% in late September.

The increase in November was tied to hurricanes, though impairments have increased for seven consecutive months.

Annaly Capital Management is preparing to issue the first non-agency MBS of 2025.

The next step to revise capital requirements for large banks is undetermined, two mortgage efforts at the CFPB will fall to a Republican appointee and FHFA’s planned reforms for the FHLBanks face uncertainty.

Nonbank lenders put a heavier emphasis on discount points in recent years than depository institutions, according to researchers at the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute.