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%.

HomeXpress is owned by Seer Capital Management, an investment fund.

“I strongly encourage lenders to make sure they have their ‘house in order’ as we are going to make it a focus to put bad actors on our suspended counterparty program at FHFA,” said FHFA Director Bill Pulte.

On Wednesday, the 10-year yield peaked near 4.50% and came down to around 4.35% by the end of the business day.

“The shift of mortgage lending to nonbanks has undercut an important line of business for community banks,” said Treasury Secretary Scott Bessent.

HECM endorsements declined by 8.6% on an annual basis in 2024.

Most of the decline was in agency refinance business.

Among a series of sports analogies, Scott Turner, a former player in the NFL, said that HUD and the mortgage industry would need to “huddle” to solve the housing affordability crisis.