Legislation to limit trigger lead activity was removed from “must-pass” defense spending legislation. Still, mortgage industry participants are confident Congress will pass the trigger leads ban as soon as next year.

About 40 million households are making consistent monthly rent payments that are equal to or greater than the average monthly mortgage payment, according to one estimate.

Issuance increased by 10.9% on a quarterly basis, well below the increases seen in recent quarters.

“A trade war would increase costs, including housing construction costs, and potentially affect employment, pressuring demand and mortgage performance,” according to Fitch Ratings.

The average interest rate on a 30-year fixed-rate mortgage declined from 6.81% on Nov. 27 to 6.69% on Dec. 5.

Opposition from Rep. Patrick McHenry, R-NC, stalled legislation this year that would limit trigger leads.

The final rule will implement without changes a proposed rule issued in July 2024.

The pending issuance is the second-smallest HELOC securitization from the firm this year.

Locks for refis plummeted in November following a rise in interest rates.

Among the top 20 Ginnie issuers in November there were just two federally insured depositories: U.S. Bank and Navy Federal.