FHFA gave Fannie Mae high marks for its performance in the duty-to-serve market for manufactured housing even though Fannie missed all four of its target objectives.
Budget cuts will eliminate “OIG’s capacity to identify, investigate and develop the evidence necessary to prosecute fraud schemes involving the multifamily mortgage market,” said Acting Principal Deputy Inspector General James Hodge.
Pennymac is projecting $160 million of annualized expense reductions from the second quarter of 2026 to the first quarter of 2027, including a sharp step-down in the new year.
An estimated $490.0 billion of first-lien mortgages were originated in the third quarter, down 15.5% from the second quarter, according to a new ranking and analysis by Inside Mortgage Finance.
Rocket disclosed that it sold mortgage servicing rights with a total unpaid principal balance of $23 billion during the quarter, generating $379 million of cash proceeds.
“Our servicing business delivered strong profitability, while our production segment reported a pre-tax loss due to an industry-wide contraction in origination activity coupled with margin pressure near the end of the quarter,” said David Spector, chairman and CEO of Pennymac.
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