Mortgage applications are on the upswing as interest rates and spreads fall. FHFA says Trump is responsible, but critics disagree.

Mortgages tied to Ginnie Mae accounted for 18.3% of total servicing outstanding at the end of September. Some servicing share shifted away from the GSEs, though Fannie and Freddie still dominate. (Includes two data tables.)

Refi originations push warehouse lending commitments up during the third quarter. On an annual basis, commitments were up 11.1%, with a handful of warehouse lenders putting a strong emphasis on the business. (Includes data table.)

Several mortgage trade groups expressed support for a proposal from the CFPB to remove the use of disparate-impact liability under the Equal Credit Opportunity Act. Consumer advocates oppose the effort.

The MBA advanced a proposal to limit the tri-merge requirements on GSE mortgages to applicants with credit scores below 700, in an effort to reduce the cost of originating loans. Some argue that the real problem is pulling scores for borrowers who are never going to qualify for a mortgage.

Rep. French Hill, R-AR, prompted the House to draft its own housing legislation rather than approving a Senate package.

The Federal Reserve lowered federal funds rates for the third time this year, but its easing of fiscal policy is expected to drive only modest gains in mortgage lending with interest rates on mortgages expected to hold.

The Mortgage Bankers Association said a federal policy framework for AI will give lenders and technology partners the “certainty” needed to deploy the tech safely and responsibly. It will also limit state regulation.

Kenny Smith worked at Deloitte for more than 25 years before retiring in 2020. He isn’t well known among mortgage industry participants.

UWM is set to buy Two Harbors Investment in a $1.3 billion all-stock transaction; mortgage broker employment increases in October.