Delayed financing offers a way for all-cash homebuyers to quickly tap the equity in their home.

Santander Bank is issuing a securitization of closed-end second liens sourced from Pennymac. Also, an affiliate of PIMCO is offering a securitization of seasoned HELOCs.

While market share of small- and mid-sized nonbank lenders grew, there was some leakage at the large nonbank lenders. Large mortgage companies’ market share fell sequentially to 53.8% from 56.1%. (Includes two data tables.)

After years of appreciation, home prices are leveling off and could even decline.

Even as loan deliveries to Fannie Mae and Freddie Mac increase, the two entities continue to lose business to Ginnie Mae issuers. (Includes two data tables.)

PennyMac Financial Services partnered with Vesta Innovations to adopt the firm’s loan origination system and streamline the mortgage application process in the consumer direct channel. The move includes an investment in Vesta.

PennyMac, the largest correspondent lender in the industry, will begin offering non-qualified mortgages later this month. The move could be a major boost for the sector.

FHFA established a new policy — that no GSE servicer should have a market share exceeding 20% — when it authorized Fannie and Freddie to continue doing business with the combined entity that will be formed following Rocket Companies’ planned acquisition of Mr. Cooper Group.

This is PennyMac's second prime jumbo MBS of 2025.

FHFA Director Bill Pulte announced on X that there's a new allegation of mortgage fraud against Federal Reserve Governor Lisa Cook.