“We do believe that tariffs overall will be finalized... and I actually think interest rates will go down because of it,” said Mat Ishbia, chairman and CEO of United Wholesale Mortgage.

Soaring property and tax rates are major contributors to rising FHA delinquencies.

Mr. Cooper's owned servicing portfolio declined in the first quarter of 2025, the first decline posted by the nonbank since the second quarter of 2022.

“There are a lot of tailwinds still in MSR values,” said David Sheeler, a senior executive vice president and president of residential servicing at Freedom Mortgage.

Ginnie Mae is instituting a temporary 10% cap on the share of mortgages with buydowns delivered into multiple issuer pools of Ginnie MBS.

A few years back mortgage giant UWM had no desire to process its own loans, opting instead to use subservicers. But those days are gone.

The REIT had $130.3 million of net income in the first quarter, down 72.5% compared with the previous quarter.

The House Financial Services Committee moved a bill forward that would reduce the budget for the Consumer Financial Protection Bureau by close to 70%.

UWM presently uses two subservicing vendors to handle its monthly processing chores: Cenlar FSB and Mr. Cooper, the latter of which is being sold to Rocket.

Property tax and insurance costs now account for more than 20% of a mortgage payment.