Both the correspondent and broker channels have gained share from the retail channel. The first quarter of 2025 marked the third straight quarter in which retail accounted for less than 50% of total first-lien originations. (Includes six data tables.)

In response to deregulatory efforts by the Trump administration, the MBA and ABA suggested ways to boost bank mortgage activity.

The Fed lifts asset cap imposed on Wells Fargo; bill to establish VA partial claims program introduced in Senate; mortgage applications slow.

Originations of nonconforming mortgages increased by 45.7% on an annual basis in the first quarter of 2025. Government-insured lending was up 13.5% and conventional-conforming activity treaded water. (Includes two data tables.)

The president’s plan to maintain the implicit guarantee of Fannie Mae and Freddie Mac MBS still leaves unanswered many questions that skeptics say are critical to the GSEs’ safe and sound exit from conservatorship.

Interest rates on mortgages are elevated, suppressing demand. Short periods of declines in interest rates have prompted surges in loan applications. The question remains: When will interest rates do down?

FHFA Director Bill Pulte plans to announce actions that will address the costs associated with credit scores. Mortgage trade groups are providing feedback, hoping to shape the effort.

The effort will start with new multifamily mortgages and could be expanded to single-family mortgages and to Freddie Mac.

The bank wants to be a force in warehouse finance. Last fall it hired industry veteran Donnie Martin to oversee the effort. The bank plans to finance nonbank mortgage companies by mid-summer.

Ongoing affordability issues and volatility in the financial markets combined to suppress purchase-mortgage lending in the first quarter. Meanwhile, refi volume was up nearly 50% from a year ago. (Includes four data tables.)