Joseph Gormley is the new executive vice president and chief operating officer at Ginnie Mae.

The order retains the prohibitions on destruction of records, wholesale termination of contracts, and transfer of funds.

“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.

Bulletins from the GSEs detailed updates to servicing guidelines.

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.

The Biden administration made a big push to encourage the creation of SPCPs but the Trump administration appears to have a dim view of the programs.

“We’re consolidating divisions to focus on building more homes and strengthening safety and soundness,” said FHFA Director Bill Pulte.

The FHFA director announced regulatory cuts but no specifics were provided.