On Wednesday, the 10-year yield peaked near 4.50% and came down to around 4.35% by the end of the business day.

Rep. Chris Pappas, D-NH, tried to get VASP restarted until Congress passes legislation to allow for a partial claims program at VA. The effort was voted down.

“The shift of mortgage lending to nonbanks has undercut an important line of business for community banks,” said Treasury Secretary Scott Bessent.

HECM endorsements declined by 8.6% on an annual basis in 2024.

Bulletins from the GSEs detailed updates to servicing guidelines.

The Biden administration made a big push to encourage the creation of SPCPs but the Trump administration appears to have a dim view of the programs.

“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.

Locks for mortgages increased by 17.1% on a monthly basis in March.

The top three issuers of Ginnie MBS in 1Q25: PennyMac, UWM and Freedom Mortgage.