“We’re still not at the level of profitability where we should be in home lending, just given as we continue to wind down that servicing book,” said Charlie Scharf, CEO of Wells.

Banks and thrifts repurchased $213.6 million of single-family mortgages during the third quarter, an 11.5% decline from the previous period.

Chase expects a limited financial impact on its business from the LA-area wildfires.

Expanded-credit MBS issuance rose 13.2% in the fourth quarter of 2024 while prime non-agency MBS volume was down 2.9%.

Originations at the two big banks increased by around 7% on a quarterly basis in the fourth quarter.

The analysts said only legislation by Congress can address the government guarantee currently applied to Fannie Mae and Freddie Mac.

No longer is it a given that the Federal Reserve will cut short-term rates twice this year. And the 10-year Treasury rate is elevated.

A coalition of 23 housing groups offered an enthusiastic endorsement of Scott Turner as secretary of the Department of Housing and Urban Development.

Rate-term refis helped to drive up residential MBS issuance in the fourth quarter.

HUD alleged PHH charged convenience fees in violation of FHA requirements.