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.

Some $13.26 billion of high-balance mortgages were included in agency MBS issued during the third quarter of 2025. Nine months into the year, agency high-balance sales were down somewhat on an annual basis, with the decline concentrated in sales to the GSEs. (Includes three data tables.)

Long-time industry analyst Chris Whalen said the GSE plans to disqualify some types of capital from use to calculate net worth.

The Senate-approved ROAD to Housing Act was dropped from a 2026 defense bill. However, House Republicans indicated that they’re working toward legislation to address housing affordability.

The CFPB plans to issue guidance that will allow mortgage lenders to calculate the average prime offer rate in the event that the bureau runs out of funding.

Banks have deprioritized refinance recapture due to changes in capital requirements and an emphasis on high-net worth borrowers.

Housing affordability has improved due to slowing home price appreciation and growing inventory but it is still lagging historical levels.