Rocket Mortgage, the largest agency servicer and a nonbank, went the other way, reducing its portfolio during the quarter.

First Horizon took a $473 million pre-tax loss in non-interest income on the sale of mortgages with an unpaid principal balance of $4.5 billion.

Refinance business dropped and VA volume declined at a faster pace than FHA business.

The U.S. Court of Appeals for the Fifth Circuit upheld a ruling by a Texas district court, determining that Ginnie Mae had the authority to seize Texas Capital Bank’s interest in the tails on home equity conversion mortgages once serviced by Reverse Mortgage Funding.

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

Trade groups said aligning ROV policies across mortgage programs would be preferable.

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

Matt Jones, the Trump administration’s nominee for commissioner of FHA, plans to continue to work to reduce mortgage costs and housing costs if confirmed for the position.

The GSEs’ share of servicing topped out at 50.4% in March 2022 and has declined each quarter since then, through June 2026.

Under the draft revisions to the FHA handbook, FHA would accept the property condition and quality ratings scale used by the government-sponsored enterprises.