Most servicemembers mistakenly think VA loans require a downpayment.

Rocket Mortgage, thanks to its acquisition of Mr. Cooper Group, which was completed at the beginning of October, is poised to overtake Chase as the largest firm in terms of owned servicing.

Much of the swing was tied to increases in salaries, commissions and team member benefits along with general and administrative expenses.

David Spector, chairman and CEO of Pennymac Mortgage Investment Trust, said execution in the non-agency market is currently superior to delivering the loans to the GSEs.

FHA Commissioner nominee Frank Cassidy and Ginnie Mae President nominee Joseph Gormley testified before a Senate committee Thursday.

“We, like any business, must eliminate positions that are not core, or otherwise, to mortgages and new home sales,” FHFA Director and Fannie Mae Chair Bill Pulte said of the GSE.

The total delinquency rate on FHA loans in Ginnie MBS hit 10.90% at the end of September, up 51 bps from the end of June.

The Mortgage Bankers Association is projecting a 25-bp rate cut by the Fed in December and another in the first quarter of 2026.

The lender's gain-on-sale margin declined from 1.22% in the second quarter to 1.14% in the third quarter.

Redwood Trust reported a loss of $7.7 million for the third quarter of 2025.