Calls to HUD field offices redirected to a national hotline. A HUD spokesperson said there were no closures.

The top three issuers of Ginnie MBS in 1Q25: PennyMac, UWM and Freedom Mortgage.

Issuance in the first quarter of 2025 declined compared with the fourth quarter of 2024. However, issuance was above the level seen in the first quarter of 2024.

The 10-year Treasury rate is declining and the possibility of a recession is growing.

Multiple factors are weighing on the spread between the 10-year Treasury rate and interest rates on mortgages.

A district court issued a summary judgment in favor of Ginnie Mae in a lawsuit brought by Texas Capital Bank against the agency.

Four rating services gained on Fitch in 2024 in terms of rating share for non-agency MBS issuance.

It will be the 11th issuance of its type by loanDepot.

Among other requests, the coalition of lender trade groups wants FHFA to conduct a cost/benefit analysis of the initiative.

“UWM will be discontinuing our subservicing relationship with Mr. Cooper and they will no longer be [a mortgage servicing right] sale partner,” a UWM spokesperson said.