Some real estate agents are pushing clients away from offers supported by some government-backed mortgage products, industry members say.

A recent survey found that 89% of voters want the House and Senate to work together to pass legislation that will make housing more affordable.

FTC warns Mortgage Connect about noncompetes; Rocket preps CES MBS; New legislation on mortgages for homes on tribal land passed; Share of first-time homebuyers increasing.

Rocket and Pennymac reduced their portfolios during the first quarter.

“Rocket is no longer solely a rate-driven business,” said Varun Krishna, CEO of the company. “We are a business with durable, recurring revenue streams that also retain significant upside when rates fall.”

The change was prompted by delinquencies, though Fitch analysts said the asset class is still performing above base case expectations.

The transaction includes servicing on 800,000 loans representing about $197 billion in unpaid principal balance.

“The industry forecasts are expecting a step up in Q2 but I would say that we’re just not seeing that,” said Varun Krishna, CEO of Rocket Companies.

Mat Ishbia, president and CEO of United Wholesale Mortgage, said management at Two Harbors is “maybe playing some games” in opting to be acquired by CrossCountry Mortgage rather than by UWM.

The higher loss was due to a combination of an increase in compensation and benefits and a $21.0 million hit from Better’s bank in the United Kingdom, which is now classified as a discontinued operation.