Uncertainty on movements by the Fed has prompted sharp swings in the value of agency MBS as well as in the prices of hedges commonly used by REITs.

Non-agency securitization of home equity loans resumed its rising trajectory after slumping in the fourth quarter of 2024. Rocket was the top issuer in the first quarter, focusing on closed-end second liens. (Includes two data tables.)

First-of-its-kind HELOC ABS from Figure; Morningstar downgrades assessment of Torchlight Loan Services; ABS roundup.

Mr. Cooper Group’s owned servicing volume took a downturn in the first quarter. Some large banks also continued to reduce their owned servicing.

Rocket’s pending acquisition of the nation’s largest subservicer is making some MSR owners consider a subservicer that isn’t owned by Rocket. Mr. Cooper isn’t giving up, with plans for additional growth.

Hearing scheduled for May 16 to analyze massive layoffs at CFPB; Fannie economists slightly lower forecast for mortgage rates; Horizon Bank sells warehouse unit for a profit.

The share of refis with low loan-to-value ratios delivered to the GSEs increased in the first quarter of 2025.

The REIT had $130.3 million of net income in the first quarter, down 72.5% compared with the previous quarter.

“A decline in interest rates resulted in higher valuations,” Redwood noted.

The House Financial Services Committee moved a bill forward that would reduce the budget for the Consumer Financial Protection Bureau by close to 70%.