Special Program Root Tag

A federal judge has ordered a staff member of the Department of Government Efficiency and the Consumer Financial Protection Bureau's top lawyer to appear at an evidentiary hearing next week.

The 30-year fixed rate mortgage average rose 21 basis points this week, lagging other indicators, which are all now lower than seven days ago.

If mortgage rates drop into the low 6% range, there will be a retention opportunity on 5.4 million loans that have interest rates starting at 6.5%.

As the risk of a recession rises, commercial real estate loans remain a major concern for banks and industry participants. One observer asked: "Is '25 the year where sellers start to capitulate, call a loser a loser, and move on?"

Mortgage rates remain in the 6.6% range, with the tariff news so far having little impact, but could change given the 35 basis point drop in the 10-year yield.

Offices, apartment buildings and retail locations in Los Angeles face a tangle of difficulties as the smoke clears from January's wildfires. High on the list is inadequate insurance, a common problem in California.

The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.

The looming initial public offering from Swedish payments firm Klarna comes in the foreground of tariff uncertainties and inflationary pressures.

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

Deal advisors said the Trump administration's tariff threats and the specter of inflation have given some bankers reason to pause on acquisition plans. Momentum could still mount, but uncertainty in Washington is a detriment early in the new year.

Banks are expecting increased M&A activity across the financial sector, but are concerned about acquisition by credit unions and tech integration challenges.

Experts say the Trump administration is waiting for Scott Bessent to be confirmed as treasury secretary and for other appointees to clear the Senate before naming acting heads at federal banking agencies.

As forbearance starts to rise due to the fires, servicers that have just gotten a respite from hurricanes recoveries will have to gear up again.

The moves, announced within hours of Trump taking office Monday, also risk derailing the commitment that all countries made at COP29 in November to triple annual climate finance to $300 billion by 2035.

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.

Leftover goals from the first administration of president-elect Donald J. Trump 1.0 could shake MBS and other ABS sectors.

Sales of bonds earmarked for supplemental coverage of large windstorms, earthquakes and other events totaled $17.7 billion, up 7% from the previous record set a year ago.

Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including the depth and scope of President-elect Donald Trump's immigration and tariff policies — could change that course, but likely not until 2026.

Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.