UWM is projecting revenue of between $800 million and $900 million for the first quarter of 2025, rather than the forecast of between $650 million and $850 million in revenue offered less than two weeks earlier.
One of the mortgagee letters that established the policies in 2022 required that HUD document all CWCOT property sales, but the HUD OIG said it didn’t keep records verifying buyers, such as the statements owner-occupants must sign verifying they intend to use the home as a principal residence.
The GSEs noted that mortgages for government employees and other workers directly impacted by the shutdown are eligible for delivery to the GSEs, even if the borrower is not receiving pay, so long as certain conditions are met.
Judges on the appeals court seemed conflicted about whether the Trump administration has the authority to move forward with its plans to terminate nearly 90% of the workforce at the CFPB.