Mortgage applications are on the upswing as interest rates and spreads fall. FHFA says Trump is responsible, but critics disagree.

Mortgages tied to Ginnie Mae accounted for 18.3% of total servicing outstanding at the end of September. Some servicing share shifted away from the GSEs, though Fannie and Freddie still dominate. (Includes two data tables.)

While government-insured mortgages are assumable, few assumptions are completed due to various obstacles. GSE mortgages were also assumable until the 1980s, when legal issues prompted a change.

The GSE investor said part of his plan can be accomplished immediately, but ending the conservatorship may take three years.

FHFA Director Bill Pulte touted possibility of a 50-year fixed-rate mortgage. Also under consideration: transferable and portable mortgages.

The Trump administration continues to tease a 2025 capital raise for the GSEs but industry experts remain skeptical this can be done in a safe, sound manner.

A reduction in loan-level pricing adjustments for Fannie Mae and Freddie Mac is being discussed.

While most mortgage industry participants believe the tri-merge limits competition among the three credit reporting companies, some say it’s a critical tool to maintain the credit quality of mortgages.

Agency refinance business slowed significantly in the third quarter, and the market seemed to turn in September as purchase-mortgage volume also declined. (Includes two data tables.)

The Trump administration is ramping up discussions regarding reforms to the government-sponsored enterprises but it’s still not clear what the result will be. Whether Congress will take action is also an open question.