“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.

Most of the decline was in agency refinance business.

Among a series of sports analogies, Scott Turner, a former player in the NFL, said that HUD and the mortgage industry would need to “huddle” to solve the housing affordability crisis.

Neither Fannie or FHFA provided details about which employees were implicated in unethical activities or what evidence there was of potentially criminal behavior.

The Biden administration made a big push to encourage the creation of SPCPs but the Trump administration appears to have a dim view of the programs.