FHFA’s director alleges that New York State Attorney General Letitia James lied on mortgage applications in order to qualify for GSE loans.

During the early days of the pandemic, mortgage rates dropped, reducing the value of mortgage servicing rights. This month, while tariff-related volatility prompted spreads on agency MBS to widen, lenders selling loans were helped by rising rates, which increase the value of MSRs.

The FHFA director believes mortgage fraud is rampant at Fannie and Freddie. That includes allegations that New York Attorney General Letitia James, a nemesis of President Trump, fraudulently obtained GSE-backed loans. James denies the allegations.

A series of bills proposed by Republicans in Congress would dramatically change how the CFPB operates.

The DOJ in a court filing accused the CFPB employee union of twisting a stop work order at the bureau as being part of a “coordinated campaign” by the Trump administration to eliminate the CFPB.

The Trump administration’s decision to hire the libertarian housing official is a net positive for GSE reform, according to an analyst.

Demand for MBS/ABS remains high, helped by interest rate trends. But President Trump is a wildcard, prompting some caution among investors.

Economists caution that forecasts for interest rates on mortgages come with more uncertainty than usual due to Trump administration policies on tariffs and other issues.

The actual impact of the EO "may be limited," according to Ian Katz, managing director at Capital Alpha Partners.

All work at the CFPB, including supervision and examination activities, has ceased following an order by the bureau’s new acting director. Several rulemakings are also on pause.