Originations of first liens increased slightly in the fourth quarter. For the full year, production was up nearly 15% compared with 2023 as lower interest rates helped to boost lending. (Includes two data tables.)

For hours, it was unclear whether a White House memo freezing federal funding would impact mortgage programs. In the meantime, government agencies announced that their single-family mortgage programs were unaffected by the planned funding pause.

The Section 199A deduction for pass-through entities is set to expire at the end of this year. The Mortgage Bankers Association is pushing for an extension, which appears likely. The question is how Congress will pay for massive tax breaks.

Late on Jan. 27, the Trump administration ordered a pause for federal loan and grant activity, but the vague wording of the order prompted uncertainty for the mortgage market.

Early indicators suggest that the 2025 spring homebuying season may look similar to 2024, according to CoreLogic.

Production, largely through the AmeriHome Mortgage correspondent unit, declined by 1.5% from the third quarter.

Much of the decline in income was tied to the fair value of investment securities as interest rates on mortgages increased during the quarter and spreads widened somewhat.

Scott Bessent's nomination for secretary of the Treasury Department was approved on a 68-29 vote.

A former GSE regulator said if the new administration isn’t willing to reduce FHA premiums, it should reset expectations for the capital ratio of the MMIF.

Housing Secretary nominee Scott Turner offered few specifics during his confirmation hearing last week. But he outlined plans to review agency programs and maximize their budgets.