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

Large nonbanks accounted for 52.6% of mortgages delivered to the government-sponsored enterprises in the first quarter of 2025.

Apollo’s borrowing capacity from the FHLB is almost $46.0 billion.

Mortgages with interest rates above 6.0% accounted for 18.2% of the agency servicing market as of the end of March.

“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.

Bulletins from the GSEs detailed updates to servicing guidelines.

Most of the decline was in agency refinance business.

“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.

A number of Democrats in the Senate demanded that Pulte appoint qualified independent board members to bring the GSEs back into compliance with the law.