Mortgages with interest rates above 6.0% accounted for 18.2% of the agency servicing market as of the end of March.

JPMorgan Chase had a 47.4% improvement compared to 1Q24 and Wells Fargo was us 25.7%.

The spread on an expanded-credit MBS Annaly Capital Management priced this week was the widest pricing for the senior tranche of an expanded-credit MBS in more than a year.

HomeXpress is owned by Seer Capital Management, an investment fund.

“I strongly encourage lenders to make sure they have their ‘house in order’ as we are going to make it a focus to put bad actors on our suspended counterparty program at FHFA,” said FHFA Director Bill Pulte.

On Wednesday, the 10-year yield peaked near 4.50% and came down to around 4.35% by the end of the business day.

Rep. Chris Pappas, D-NH, tried to get VASP restarted until Congress passes legislation to allow for a partial claims program at VA. The effort was voted down.

“The shift of mortgage lending to nonbanks has undercut an important line of business for community banks,” said Treasury Secretary Scott Bessent.

HECM endorsements declined by 8.6% on an annual basis in 2024.

Bulletins from the GSEs detailed updates to servicing guidelines.