Fannie Mae Single-Family Loan Acquisitions Reach 3-Year High
Fannie Mae posted a $3.7 billion net income in Q1, a 5% quarterly rise, while its single‑family loan acquisitions surged to $98.7 billion—the highest level since 2022, including $43.8 billion in refinances. The GSE’s administrative expense ratio dropped to 10.2%, reflecting a 25% year‑over‑year cost reduction. Net worth grew to $112.7 billion, and guarantee‑fee revenue remained stable at $5.9 billion, representing 81% of total net revenue. Market volatility at quarter‑end had little impact on earnings.
Bank Groups Eye Changes to Fed's Relaxed Capital Plans
Bank groups praised the Federal Reserve’s recent capital plan as a step forward but warned that the proposals still overstate risks for certain assets, potentially limiting banks’ ability to expand lending. The Fed’s March package would modestly lower capital requirements...
Housing Starts Surge to Highest Level Since December 2024
U.S. housing starts jumped 10.8% in March to an annualized 1.5 million units, the highest level since December 2024. Single‑family starts rose 9.7% to 1.03 million, while multifamily groundbreakings also increased. Builders are using sales incentives to spur demand despite higher mortgage rates...
State Exams Are Becoming a Revenue Exercise
State mortgage regulators are increasingly using examinations as a source of revenue, turning supervisory findings into hefty public fines that can run into the millions. The shift blurs the traditional line between confidential supervision and punitive enforcement, especially in multistate...
CrossCountry Ups Two Harbors Bid After New UWM Proposal
CrossCountry Mortgage raised its all‑cash offer for Two Harbors Investment to $11.30 per share, a 50‑cent increase prompted by a late‑stage proposal from UWM Holdings. The original merger failed to secure a shareholder quorum, reopening negotiations. After reviewing advice, Two...
Ex-Ellie Mae CEO Joins MeridianLink Board After Privatization
Jonathan Corr, former CEO of Ellie Mae, has joined the board of MeridianLink, which was taken private in a deal valuing the company at $20 per share—down from its $26 IPO price. Corr led Ellie Mae through two major sales,...
Newrez Projects 15% Cost Cut via AI Investments
Newrez, the mortgage subsidiary of Rithm Capital, said its AI‑driven partnerships with HomeVision and Valon are expected to trim operating expenses by roughly 15% of the current run rate. The lender posted first‑quarter pre‑tax profit of $250.6 million (excluding mark‑to‑market effects...
Inflation Outpaces Home-Price Growth for 9th Straight Month
Mortgage rates slipped below 6% in February, the first sub‑6% level since 2022, but home‑price growth continued to decelerate. The S&P CoreLogic Case‑Shiller index showed a modest 0.7% year‑over‑year increase nationally, while more than half of major metros recorded price declines....
Appraisal Firm Sues Rival for Using AI to Replicate Its Tech
Appraisal‑tech firm True Footage has filed a federal lawsuit against Automax AI and its founder Humza Ahmed, alleging the startup used large‑language‑model tools to copy True Footage’s TrueTracts product and rebranded it as “Copilot.” The complaint says Ahmed fraudulently accessed...
Housing Affordability 'Will Never' Return, Dv01 Warns
dv01, part of Fitch, warns that U.S. housing will never regain historic affordability levels. The firm cites a structural shortfall of roughly 3 million homes, with the median home price now 5.1 times median household income. While modest short‑term relief is possible,...
California Bills Would Pause Mortgage Payments in Disasters
Three California bills targeting disaster‑related mortgage and insurance relief cleared their respective Assembly committees and now await full votes. AB 1842 would require lenders to offer an initial 180‑day forbearance, with extensions up to a total of 12 months, whenever a...
NEXA's Kortas Vows Countersuit in loanDepot Trade Secret Row
loanDepot sued NEXA Lending in Mississippi federal court, alleging two loan officers stole its trade secrets and used them to win clients for NEXA. NEXA CEO Mike Kortas called the suit “pathetic” and said a countersuit is forthcoming. Both companies...
New Dark Matter CEO Eyes Deals, AI-First Future
Dark Matter Technologies named former CTO Vikas Rao as its new CEO, pledging an AI‑first roadmap for its Empower loan‑origination platform. At the Horizon conference the firm unveiled Ask Aiva, an AI chatbot that will evolve into a task‑performing copilot across...
2026's Top Producers, Numbers 275-176
The National Mortgage News Top Producers Survey released rankings for loan officers ranked 176‑275, highlighting that the No. 250 originator grew production from just under $25 million in 2024 to over $26 million in 2025. Mortgage industry volume rebounded above $2 trillion in 2025,...
Ginnie Mae Pauses Delinquency Rules Amid FHA Waterfall Shift
Ginnie Mae announced a temporary pause on its delinquency‑ratio calculations, excluding mortgages on trial payment plans (TPPs) from monthly issuer reporting effective April 2. The move responds to a surge in older FHA loans entering TPPs after the Federal Housing Administration...
Prepayments Hit 4-Year High After Mortgage Rates Eased
Mortgage prepayment speeds surged to 1.06% in March, the highest level in four years, as declining rates revived refinance activity. The year‑over‑year prepayment rate jumped 78.4%, even after a brief rate uptick linked to geopolitical tension. Overall delinquency rates improved,...
Hilltop's PrimeLending Cuts Pretax Losses by over 70% in 1Q
Hilltop Holdings' mortgage unit PrimeLending cut its pretax loss to $2.4 million in Q1, a 72% YoY reduction. The improvement stemmed from higher origination volume and a wider gain‑on‑sale margin, while total loan production reached $2.03 billion. Despite the gains, Hilltop warned...
Study Finds Racial Gaps in Wells Fargo Mortgage Denials
A study of nearly 25,000 mortgage applications in North Carolina shows Wells Fargo denied Black, Latino and Asian borrowers at roughly twice the rate of white applicants. Denial rates were 22.5 % for Black, 25.6 % for Latino and 20.3 % for Asian customers...
MBA Renews Press for Limited Single Report as Scores Compete
The Mortgage Bankers Association (MBA) is urging regulators to allow a single credit report for high‑score mortgage borrowers, arguing it can lower costs and spur competition among the three major bureaus. The proposal includes safeguards such as requiring lenders to...
Distressed Sales Numbers Show Signs of Market 'Normalization'
Auction.com’s Q1 report shows distressed‑housing activity moving toward pre‑pandemic norms. Completed foreclosure auctions rose 10% from the prior quarter and 33% year‑over‑year, bringing volumes to about 66% of the first‑quarter 2020 level. The distressed‑sales rate edged up, with buyers paying...
Sellers No Longer Deterred by Lock-In Effect, Study Finds
Homeowners are shedding the lock‑in effect, prompting more listings this spring. Coldwell Banker’s 2026 Home Shopping Season Report, based on over 700 agents, finds over a third of sellers have sub‑5% mortgage rates yet plan to list, and 40% say...
Office Loan Woes Bite a Pair of Banks
Washington Trust Bancorp and Bank OZK each moved two office‑related loans to nonaccrual status, sparking sharp share declines. Washington Trust’s nonperforming assets surged to $40.4 million, pushing its NPA ratio to 0.81% and sending the stock down 17% before a modest rebound....
SoFi Enters HELOC Market Amid Home Equity Surge
SoFi Technologies announced it will begin direct home‑equity line of credit (HELOC) lending, adding the product to its existing mortgage suite. The move comes as U.S. homeowners hold over $11 trillion in tappable equity and HELOC balances have surged to $433 billion,...
Fannie, Freddie, FHA to Accept VantageScore Immediately
Federal regulators announced that Fannie Mae and Freddie Mac will immediately accept VantageScore 4.0 for mortgage loan purchases, joining HUD's move to allow modern credit measures on FHA‑insured loans. Freddie Mac has already tested $10 million in VantageScore‑based sales, and a consortium...
D.R. Horton, NVR, Taylor Morrison, M/I Homes Earnings Recap for Mortgage Lenders
Mortgage banking units of the nation’s largest homebuilders posted weaker pre‑tax earnings in Q1 2026 as higher rates and affordability concerns dented margins. Despite the slowdown, the Mortgage Bankers Association reported loan applications for new homes up 11% year‑over‑year and...
Toll Brothers Acquires Private Arkansas Homebuilder
Toll Brothers announced the acquisition of private Arkansas builder Buffington Homes, a move that will give the premium homebuilder a foothold in northwest Arkansas. Buffington operates nine communities and controls more than 1,500 lots, targeting first‑time and move‑up buyers with...
Planet Is the Latest Mortgage Lender to Embark on a Rebrand
Planet Home Lending has rebranded to a single‑word identity, unveiling a new logo that symbolizes its four business lines. The company highlighted a 58% rise in originations and a 21% increase in its servicing portfolio, all achieved organically. In 2025,...
Impac Mortgage Teeters on Collapse Amid Audit, Data Breach
Impac Mortgage Holdings, once a billion‑dollar originator, is now facing a going‑concern warning after a Baker Tilly audit revealed $45 million in liabilities against $22.5 million in assets. The firm posted a $12.9 million net loss for 2025 and generated just $3.1 million in...
Bank of America, Appraiser Sued for Discrimination
Homeowner Darchelle Braxton has filed a federal lawsuit against Bank of America and Velox Valuations, alleging racial discrimination in the appraisal of her Richmond property. The bank’s $135,000 appraisal, which the complaint says was biased, led to a denied $100,000...
Maine Introduces Bill to 'Effectively Ban' HEI Contracts
Governor Janet Mills signed LD 1901, reclassifying home‑equity investment (HEI) contracts as residential mortgage loans in Maine. The law imposes mandatory consumer counseling, independent legal counsel, detailed cost disclosures, and liability on secondary‑market investors, aligning HEIs with the state’s Consumer...
Reverse Mortgage Clients Face Growing Budget Deficits
Seniors are increasingly turning to reverse mortgages as budget gaps widen, with 21% of clients facing monthly deficits in 2025—up from 12.2% in 2024. The average shortfall grew by $295 to $1,793 per month. Over half of borrowers earn less...
First Closing of Principal Discount Tool Gives Banks, CUs a Lock-In Exit
Takara’s Discount for Real Estate Affordability and Mobility (DREAM) completed its first closing, giving a Chicago couple a $41,000 principal discount on their mortgage. The discount is funded by Treasury securities held in a trust, allowing the lender to receive...
VA Mortgage Survey Reveals Gaps in Benefit Awareness
A NewDay‑commissioned survey of 1,238 current and former service members shows the VA mortgage benefit is well‑rated but misunderstood, with more than half holding at least one misconception. While 54% of veteran homebuyers used the VA loan and 38% reported...
Second-Home Volume Shrinks From Pandemic-Era Highs
Second-home ownership in the United States slipped to 6.2 million units in 2024, representing 4.3% of the housing stock and down from the pandemic peak of 6.5 million in 2022. The decline reflects waning demand after remote‑work‑driven buying surged during COVID‑19. Concentration...
The Mortgage Industry's Crisis Communications Problem
The mortgage sector’s crisis‑communication playbooks were built for a slower market, assuming ample time to align legal, compliance, and leadership before speaking publicly. Recent events—First Guaranty’s abrupt 2022 layoffs and loanDepot’s 2024 ransomware breach—show that narratives form within hours, leaving...
Treasurys Hold Gains as Oil, Stocks Flash Mixed Signals
Oil prices jumped to their strongest level in four years as the U.S.-Israeli conflict with Iran disrupted the Strait of Hormuz, sending crude markets into turmoil. Meanwhile, U.S. Treasury yields edged higher, with the 5‑year, 10‑year and 30‑year benchmarks posting...
A Third of States Lack Deed Fraud Laws, Report Finds
A new EquityProtect Property Protection Scorecard reveals that roughly one‑third of U.S. states lack dedicated deed‑fraud statutes for residential titles. Seven states, including New York, have enacted such laws since 2023, while eight remain in the lowest tier with minimal or...
The TCPA "Czar" Talks Spam Call Lawsuit Risks for Lenders
Eric Troutman, dubbed the TCPA “czar,” warns mortgage lenders that spam‑call and text lawsuits are accelerating, with class‑action certifications now hitting 70‑75% and settlements frequently reaching seven‑ or eight‑figure levels. He notes that while no major mortgage settlement has occurred...
HOA Liens Have Surged Amid Rising Owner Costs
Homeowners associations filed 284,933 liens in 2025—equivalent to one lien every 90 seconds—representing an 8.6% increase over 2024. The surge was driven largely by Sun Belt states, with Florida alone contributing 17.4% of the national total and Louisiana experiencing a...
CRM Vendor Sues Pennymac for Software Theft
Surge, a CRM vendor serving top wholesale lenders, filed a breach‑of‑contract lawsuit against Pennymac in a Michigan court, alleging the lender reverse‑engineered its Partner360 platform after the relationship ended. The complaint seeks $176,000 in unpaid fees, an injunction to stop...
CMG Mortgage Sued for Raiding Lenders' Arizona Branches
SecurityNational Mortgage Co. (SNMC) has filed a lawsuit in Arizona state court accusing CMG Mortgage of covertly raiding its Phoenix‑area branches, transferring confidential loan data and hiring entire teams. CMG moved the case to federal court, marking its third federal...
Regulator: Bank Misled Veterans on VA Loan Refinances
The Office of the Comptroller of the Currency issued a consent order against The Federal Savings Bank, accusing it of false disclosures that steered veterans into costly VA cash‑out refinance loans between 2022 and 2024. Misleading ads and claims of...
IMB Profitability Hits 4-Year High in 2025, MBA Finds
Independent mortgage bankers (IMBs) posted their strongest origination profitability in four years, with average earnings of $785 per loan in 2025, up from $443 in 2024. The gain translated to 21 basis points per mortgage, double the prior year, yet...
Foreclosures 'Could Signal Shifting Housing Market Dynamics'
Foreclosure filings rose to 118,727 in the first quarter, up 6 % from the prior quarter and 26 % year‑over‑year, according to Attom data. The increase is driven mainly by a rise in foreclosure starts, which are edging toward the 100,000 threshold....
Fired Fannie Mae Workers' Defamation Lawsuit Dismissed
U.S. District Judge Leonie M. Brinkema dismissed the defamation lawsuit filed by 61 former Fannie Mae employees, allowing them to refile the claim. The workers, all of Indian origin, said FHFA Director Bill Pulte’s public statements falsely portrayed them as engaging...
Mortgage Fraud Vulnerabilities Dip to 43.7% in Q1
The FundingShield Fraud Analytics Report shows mortgage file errors fell to 43.7% in Q1, the lowest rate since Q2 2022. Issues per transaction dropped to an average of 2.2, down from 3.2 in the prior quarter. Closing‑protection letter (CPL) defects remain...
Exclusive: Warren to Probe Warsh on His Role in 2008 Crisis
Senator Elizabeth Warren is pressing the Federal Reserve for records on former governor Kevin Warsh’s actions during the 2008 financial crisis ahead of his Fed chair nomination hearing. Warren alleges Warsh downplayed subprime mortgage risks and facilitated multibillion‑dollar taxpayer‑funded bailouts,...
Gen Z, Millennial Homeowners Struggle with Mortgage Payments
A 2026 ServiceLink State of Homebuying Report shows nearly half of Gen Z homeowners and 44% of millennials risk missing a mortgage payment, with 14‑15% facing repeated missed payments. LendingTree data reveals Gen Z borrowers allocate 24.5% of monthly income to mortgage...
New-Home Purchase Applications Hit Record High in March
New‑home purchase applications surged 11% year‑over‑year in March, the strongest pace since the MBA’s 2012 inception. Volume jumped 26% from February, pushing the builders index to a record high and lifting annualized sales estimates to 717,000 units. Despite higher mortgage...
FHLB Council Maps Out Mortgage Credit Expansion Plan
President Trump’s executive order on mortgage credit gives the Federal Home Loan Bank (FHLB) system a new legal footing to expand funding options. The Council of Federal Home Loan Banks, led by Ryan Donovan, outlined a roadmap that includes a letter‑of‑credit...