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Mortgage Market Shake-Up: What You Need to Know
Big moves are happening in the mortgage world! Rocket Mortgage just hired Katie Sweeney as EVP of Mortgage Brokers—an interesting choice, given her deep ties to UWM and AIM. How will UWM loyalists react? Time will tell.
Meanwhile, President Trump has allegedly frozen 100 HUD programs, creating uncertainty in the market. The Mortgage Bankers Association is urging clarification to ensure loans aren’t disrupted. However, the FHA and VA have confirmed that their programs remain operational despite the confusion.
On the regulatory front, Trump’s administration is expected to ease actions against mortgage companies, and there’s speculation that the CFPB itself might not last. With multiple agencies already overseeing the industry, could this be a step toward reducing government redundancy?
Finally, the Fed is meeting for the first time under Trump’s second term. He wants lower interest rates, but for now, the Fed is staying put. Will rates drop soon? We’ll have to wait and see.
