Buy now, pay later spending has increased from about $2 billion in 2019 to $75 billion in 2023, according to a new report by the JPMorgan Chase Institute.
"It is possible that pull-through rates declined in February as mortgage rates continued to drift lower through the month," according to analysts at Goldman Sachs.
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.
Michael Tannenbaum, CEO of Figure Technology Solutions, said some lenders are on the verge of shifting some of their mortgage business from the GSEs to FTS.