Hearing scheduled for May 16 to analyze massive layoffs at CFPB; Fannie economists slightly lower forecast for mortgage rates; Horizon Bank sells warehouse unit for a profit.

Ohio Attorney General Dave Yost has sued United Wholesale Mortgage for allegedly colluding with brokers to push borrowers into higher-priced mortgages. UWM denied the allegations, noting that it’s not illegal for a broker to send most or all of its business to one lender.

The Trump administration is prohibited from firing more than 1,400 employees at the consumer agency, for now. The next hearing on the case is set for April 29.

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.

First-quarter results are beginning to roll in — along with the news that servicing values were lower than at yearend. With MSR demand red hot, the industry isn’t losing any sleep.

The Community Home Lenders of America urged members of Congress not to approve fee increases for GSE and government-backed loans in the 2025 fiscal year budget.

New bills in Congress aimed at the housing market have some bipartisan support; Trump fires Democrats on NCUA board; Trump administration looks to boost mortgage activity at smaller banks.

The stock market is volatile and interest rates are rising. Dozens of mortgage company owners are pondering their options.

Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.

Fannie and FHFA accused the employees of fraud and deceitful actions, but provided no details of wrongdoing.