“The level of the tariff increases announced so far is significantly larger than anticipated,” said Fed Chair Jerome Powell.

At March 31, USB serviced $216.7 billion of one- to four-family mortgages, almost flat compared to yearend.

“They’re making money, but they just don’t know how much longer they can hang on,” said Mark Garland, managing director of SitusAMC.

Joseph Gormley is the new executive vice president and chief operating officer at Ginnie Mae.

The new forecast follows tariff policy changes by the Trump administration.

The home lending business was not a pretty place to be January-March.

Large nonbanks accounted for 52.6% of mortgages delivered to the government-sponsored enterprises in the first quarter of 2025.

Ken DeGiorgio, the now-former CEO of First American Financial, is facing a federal assault charge for an altercation that occurred on a cruise ship in late March.

JPMorgan Chase had a 47.4% improvement compared to 1Q24 and Wells Fargo was us 25.7%.

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