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%.

Pulte reiterated that movements in interest rates on mortgages will help to guide GSE reform.

The data the Federal Reserve relies on shows a slowing economy but also increased risk of inflation.

Fannie's previous forecast was released just prior to changes in tariff policies.

The REIT also had a $98.8 million loss during the quarter on interest rate swap and swaption agreements, which are used for hedging.

Home prices increased by 0.1% on a monthly basis in February.