“Much of that is seasonality,” said David Spector, chairman and CEO of PennyMac Financial Services.

The freeze was extended to allow a U.S. district court judge to rule on a legal challenge to planned layoffs at the CFPB.

loanDepot’s gain-on-sale margin dropped from 3.33% in the third quarter to 2.60% in the fourth quarter.

Demand for both purchase mortgages and refinances increased last week.

The online lender focuses on purchase mortgages.

“We continue to see nearly zero [non-QM] loans hit the liquidation stage,” dv01 said.

Officials at Rocket suggested that the combined companies could greatly reduce costs for homebuyers.

“The government’s being run by great people, they’re going to do great things going forward,” said Mat Ishbia, chairman and CEO of United Wholesale Mortgage.

The Federal Reserve remains on track to cut the federal funds rate only one time this year, according to Mike Fratantoni, an executive vice president and chief economist at the Mortgage Bankers Association.

Sharp staff cuts at FHA, VA and Ginnie Mae could lead to major problems for mortgage lenders and borrowers, according to analysts. But for now it appears to be business as usual for originations and servicing.