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%.

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.