"And you will see this in the new year, I will announce some of the most aggressive housing reform plans in American history," President Trump said.

The House Financial Services Committee approved the Housing for the 21st Century Act on a 50-1 vote.

While purchase-mortgage issuance fell 8.4% to hit the lowest monthly volume since March, refinance activity spiked 44.0% in November.

Locks for mortgages declined by 4.2% on a monthly basis in November, according to Mortgage Capital Trading.

The shifts in October continued a trend seen throughout the year in the mortgage market.

The homebuilder said the decline in its average sale price in the past year was “primarily due to continued weakness in the market and an increased use of sales incentives offered to homebuyers.”

“[The Trump administration’s] position is wrong as a statutory interpretation and is at odds with Congress’ plan in setting up the [CFPB],” according to an amicus brief filed by Democrats.

The MBA said FHFA should allow lenders to use a single credit report when delivering mortgages to the GSEs if the initial report shows that the borrower has a credit score of 700 or higher.

Fannie recently considered strengthening its net worth requirements for large nonbank issuers.

The lender has been originating non-agency reverse mortgages since 2018, and had been selling the loans to an unidentified third party through April 2025, according to Morningstar DBRS.