Since he was appointed by President Trump as FHFA’s leader, Pulte has revamped board membership at the GSEs and fired Freddie’s CEO.

The bank’s gain-on-sale margin declined from 21 basis points in the fourth quarter to 19 bps in the first quarter.

The decline in profitability in the first quarter of 2025 was tied to hedging and a loss on the sale of some assets.

PulteGroup and NVR boosted mortgage originations on an annual basis in the first quarter of 2025.

Loans originated by CrossCountry Mortgage accounted for $942.1 million of mortgages in expanded-credit MBS issued in the first quarter of 2025. Annaly Capital Management’s Onslow Bay unit remained the largest issuer of expanded-credit MBS. (Includes three data tables.)

Proponents of the non-agency market see GSE reform as an opportunity to take steps to increase the non-agency share of activity in the secondary market. The Trump administration’s plans for the secondary market remain unclear.

A new bill sets exemptions for secondary market participants after a state regulator established deeply unpopular licensing requirements at the beginning of the year.

Carrington is expanding its guidelines and offering competitive pricing for non-QMs in the correspondent channel, aiming to gain market share. The company also works to help correspondent sellers mitigate risks on non-QM sales.

Castlelake plans to invest in up to $2 billion of newly originated residential mortgages sourced from Invictus Capital Partners.

Beeline Financial started operations in 2020 and has yet to turn a profit. The company is now publicly traded thanks to a transaction involving a distillery, with plans to boost non-QM lending by leaning on technology.