“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.
Delinquencies on FHA mortgages are rising much more quickly than delinquencies on conventional mortgages, though large FHA servicers don’t appear to be too concerned. Meanwhile, VA foreclosures resumed in January after a moratorium ended.
The requirements for new construction were established in a final rule issued in April 2024. The temporary waiver was prompted by executive orders from President Trump.