Last week rumors were circulating in the industry that a top-ranked nonbank was about to be sold, but the name being floated was not Mr. Cooper.

The bulk of home equity lending remains in HELOCs by banks.

Correspondent production made up 46.1% of the group’s government-insured volume in the fourth quarter.

Sachem's expenses spiked in 2024, including a $26.9 million provision for credit losses on loans held for investment.

Fannie Mae projects that the average interest rate for a 30-year fixed-rate mortgage will fall to 6.3% by the end of 2025.

The CFPB plans to dismiss its case against Townstone and reverse a settlement the parties reached last year.

The change applies to borrowers such as those with work visas.

“These programs have served as critical tools in expanding access to affordable homeownership, particularly for first-time and low- to moderate-income homebuyers,” NAMB said of special purpose credit programs at the GSEs.

FHFA's move alleviates industry concerns of duplicative oversight of lender compliance with unfair or deceptive acts or practices requirements.

In February, MBA was projecting a 25% chance of a recession within the next 12 months. Now, the projection is a 35% risk.