“There was a surprisingly strong reading of core PCE inflation,” said Joel Kan, a vice president and deputy chief economist at the Mortgage Bankers Association.

Rising interest rates helped to lift the value of the nonbank's MSRs.

Applications declined somewhat as interest rates increased.

Mr. Cooper Group, the largest nonbank GSE servicer and second-largest GSE servicer overall, increased its portfolio by 8.6% during the first quarter.

The Mortgage Bankers Association raised concerns about the new requirements.

Economists at Fannie increased their projections for originations, citing "our more optimistic home price growth expectation and somewhat lower mortgage rate path, along with an upgraded expectation for home sales."

Sam Valverde, the principal executive vice president at Ginnie, will serve as acting president following McCargo’s departure.

The deadline to comment on Freddie Mac's proposal to acquire second liens is May 22.

The nonbank share of GSE servicing hit 57.8% as of the end of March, up from a 57.0% share at the end of 2023. Two of the largest banks reduced their GSE servicing during the first quarter. (Includes two data tables.)

Plano, TX-based nonbank NFTN recently failed and its servicing transferred to Ginnie Mae.