Ishbia pointed to borrowers who received mortgages between 2022 and 2024 as prime candidates for refis.

Note: The Fannie title pilot is scheduled to sunset in May 2026.

The increase in production was driven by interest rates, which were largely lower in 2024 than in 2023.

Income jumped by 50% on a quarterly basis at PennyMac Financial Services in the fourth quarter.

Newfi is an affiliate of asset management firm Apollo.

McCargo joined the FHLBank in June.

“We control an overnight rate,” the Federal Reserve chair noted.

White House Press Secretary Karoline Leavitt said an executive order aimed at reducing federal spending remained in effect.

Late on Jan. 27, the Trump administration ordered a pause for federal loan and grant activity, but the vague wording of the order prompted uncertainty for the mortgage market.

Non-core products are areas of the market in which non-agency financing is seen as being able to compete with Fannie Mae and Freddie Mac.