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 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.

Freddie Mac's income increased by 16.2% on a quarterly basis in the third quarter of 2025.

Originations of mortgages and home equity loans by SoFi nearly doubled in the third quarter of 2025 compared with the third quarter of 2024.

Refis accounted for 57.1% of mortgage applications last week.

Mortgage-related complaints submitted to the CFPB increased by 6.9% on a quarterly basis in the third quarter.

Home prices increased by 0.4% on a monthly basis in August, according to FHFA.

“Treasury is focused on ensuring that modernization of our capital framework ends the arbitrage that drives bank lending to nonbanks,” said Treasury Secretary Scott Bessent.