Refi volume in agency MBS issuance declined by 46.3% on a quarterly basis.

Nearly 2,000 lenders and resellers are obtaining VS4 scores for free when paying for FICO scores and more than 165 lenders are exclusively using VS4 for certain loans.

Some $10.016 trillion of residential MBS was outstanding as of the end of June, a first for the market.

Fannie Mae is starting to pull away from Freddie Mac with issuance of credit risk transfer transactions this year.

Most of the second-quarter buybacks involved loans delivered into mortgage-backed securities issued in 2025.

Wholesale and correspondent lenders offered a slightly lower rate than retail lenders last year, according to a recent report by Realtor.com.

James Hodge, FHFA’s acting principal deputy inspector general, said the OIG is likely going to have to reduce its staff by upwards of 80% due to the reduced funding and the OIG will cease criminal investigations.

Pivot Financial CEO Jennifer McGuinness-Lubbert noted that even though the Federal Housing Finance Agency is treating the scoring models similarly for determining loan-level price adjustments with the GSEs, the secondary market has already seen the pricing grids that Fannie Mae and Freddie Mac developed for VS4.

The average interest rate on a 30-year fixed-rate mortgage hit 7.28% Thursday, according to Freddie Mac.

FHFA’s IG told members of Congress that the planned budget cuts would require the IG to wind down its operations and cut nearly its entire staff.