Andrew Martinez

2 days ago | nationalmortgagenews.com | Andrew Martinez

Pennymac reported steady origination volume to begin the year but its profits took a hit with yet another negative one-time charge. The correspondent giant reported Tuesday $76.3 million net income in the first quarter and diluted earnings per share of $1.42. Those numbers were down from Standard & Poor's Capital IQ consensus estimates of $139 million net income and $2.64 diluted EPS, respectively.

2 days ago | nationalmortgagenews.com | Andrew Martinez

Bill Pulte says there will be fewer surprises at Fannie Mae and Freddie Mac moving forward. The Federal Housing Finance Agency director posted to X Monday that the regulator doesn't foresee any more executive changes at the government-sponsored enterprises, other than "already agreed-upon departures." In swift action last month, Pulte reshuffled the boards of the GSEs, and fired Freddie Mac CEO Diana Reid.

3 days ago | nationalmortgagenews.com | Andrew Martinez

Neighborworks America is defending its work supporting affordable housing efforts amid reports the Trump administration's cost-cutting task force is eying the organization. The Department of Government Efficiency met with Neighborworks last week and asked that one of its operatives be embedded in the nonprofit, according to a report from Politico.

1 week ago | nationalmortgagenews.com | Andrew Martinez

Storm clouds are brewing in the spring home buying market. The 1.15 million available homes for sale nationwide in March was the most since the onset of the pandemic in March 2020, according to Zillow. Last month's figure coincides with home value growth of just 0.2% in March from the prior month, the slowest spring growth from one year to the next since 2018.

1 week ago | americanbanker.com | Andrew Martinez

Lawmakers are asking the Federal Housing Finance Agency's watchdog to review Bill Pulte's many changes since becoming director of the regulator. Senate Democrats on the Committee on Banking, Housing and Urban Affairs sent a letter Tuesday to the FHFA's Office of Inspector General, asking it to probe several moves. Those include the reshuffling of Fannie Mae and Freddie Mac's boards of directors, and the firing of over 100 Fannie Mae employees for alleged unethical conduct.