UWM took a net loss of $247.0 million in the first quarter, largely due to a $388.6 million drop in the fair value of MSRs.

Both originations and servicing could see negative impacts as the Department of Education resumes collecting on defaulted federal student loan payments.

The firms acquire non-agency mortgages and own stakes in non-agency lenders.

“We do believe that tariffs overall will be finalized... and I actually think interest rates will go down because of it,” said Mat Ishbia, chairman and CEO of United Wholesale Mortgage.

Ginnie Mae is instituting a temporary 10% cap on the share of mortgages with buydowns delivered into multiple issuer pools of Ginnie MBS.

FHFA Director Bill Pulte didn't participate in Freddie's first-quarter earnings call, as he did for Fannie's on Wednesday, but his presence was felt.

The share of refis with low loan-to-value ratios delivered to the GSEs increased in the first quarter of 2025.

The House Financial Services Committee moved a bill forward that would reduce the budget for the Consumer Financial Protection Bureau by close to 70%.

Property tax and insurance costs now account for more than 20% of a mortgage payment.

Pulte reiterated that movements in interest rates on mortgages will help to guide GSE reform.