Key Takeaways Rocket Companies acquires Mr. Cooper in a $14.2B all-stock transaction.The combined firm manages $2.1T in mortgages for almost 10M clients.RKT expects $500M in annual benefits from revenue gains and cost savings.Rocket Companies, Inc. (RKT) has completed the acquisition of Mr. Cooper Group Inc. in terms of a $14.2 billion all-stock transaction. This deal marks the largest independent mortgage acquisition in U.S. history.As a result of the acquisition, the combined company is expected to serve ...

Economic Impact of Government Shutdown - The U.S. government shutdown is expected to strengthen expectations for additional Federal Reserve rate cuts, with markets pricing in an 88% chance of a cut in December [1] - The shutdown has led to 750,000 furloughs, increasing the likelihood of further easing by the Federal Reserve despite ongoing inflation concerns [1] - The National Flood Insurance Program (NFIP) has lapsed, complicating approximately 1,400 property transactions daily and affecting buyers in high-risk areas [11] Mortgage Industry Developments - Marr Labs is utilizing AI to streamline the mortgage lifecycle, helping lenders reduce origination costs and improve borrower engagement [2] - Mission Servicing Residential is offering flexible execution options and operational efficiencies for mortgage servicing rights (MSR) purchasers [3] - Flyhomes provides a solution for borrowers facing home sale contingencies, allowing them to qualify for up to 50% more when purchasing a new home [6] Regulatory and Guidance Changes - Freddie Mac has issued alternative procedures for mortgage lenders to follow during the shutdown, including waiving employment verification for federal employees [9][10] - Ginnie Mae will continue to perform necessary functions to ensure market stability during the shutdown, including the issuance of mortgage-backed securities [12] Labor Market Insights - The September ADP private-sector jobs report indicated a loss of 32,000 jobs, highlighting a weakening labor market [14] - Despite the absence of key economic data due to the shutdown, the Federal Reserve is still expected to proceed with a 25-basis point rate cut [15] Mortgage Rate Trends - Mortgage rates have increased for the second consecutive week, with the 30-year and 15-year rates rising to 6.34% and 5.55%, respectively [16]

Core Insights - KBRA has assigned preliminary ratings to eight classes of mortgage-backed certificates from Angel Oak Mortgage Trust 2025-10, which is a $281.2 million non-prime RMBS transaction [1] - The underlying collateral consists of 608 residential mortgages, with a significant concentration of loans underwritten using alternative income documentation [1] - A notable 54.1% of the loans are classified as exempt from the Ability-to-Repay/Qualified Mortgage rule [1]

Core Insights - Fair Isaac Corp. (FICO) is launching a program to sell credit scores directly to mortgage resellers, which is expected to enhance price transparency and reduce costs for mortgage lenders and brokers [2][4][5] - The announcement has led to a significant drop in shares of credit-reporting bureaus TransUnion and Equifax, each falling over 8%, while FICO shares surged by 32% intraday, marking its largest gain on record [3][5] - The move is seen as a step towards ensuring a competitive market, as it allows lenders to consider alternative credit scoring methods, potentially reducing reliance on traditional FICO scores [4][6] Company Impact - FICO's new program is anticipated to be beneficial for the company, as analysts suggest it will stabilize costs for homebuyers and mortgage originators while enhancing FICO's market position [5] - Citigroup analysts noted that Equifax reassured investors about maintaining profitability in the mortgage sector despite the competitive pressure from FICO's new initiative [5] Industry Dynamics - The shift in credit score distribution is expected to create a more competitive environment in the mortgage industry, with Fannie Mae and Freddie Mac also allowing the use of VantageScore, further diversifying credit assessment options for lenders [6]

Core Insights - A mixed picture in mortgage rates emerged following the U.S. government shutdown, with new jobs data raising economic concerns [1][2] - Ten-year Treasury yields fell to 4.08%, down 11 basis points from the previous week, influencing mortgage rates [1][2] - The average 30-year mortgage rate showed varied movements, with Freddie Mac reporting it at 6.34%, up 4 basis points from the previous week [4][5] Mortgage Rate Movements - The 15-year fixed mortgage rate increased by 6 basis points to an average of 5.55%, reflecting a 30 basis point rise from the previous year [5] - Zillow reported a 30-year fixed average of 6.51%, down 8 basis points from the previous week, but up 3 basis points from the day before [5] - Lender Price data indicated a flat 30-year fixed rate at 6.44% week-over-week [6] Economic Influences - The decline in Treasury yields was attributed to a report showing a loss of 32,000 private-sector jobs, which likely influenced investor behavior more than the government shutdown [2][4] - The Federal Reserve's recent decision to cut the funds rate did not meet investor expectations, leading to increased mortgage rates [8] - Market reactions to the government shutdown were anticipated, with traders likely having already adjusted their positions prior to the event [9] Market Outlook - Uncertainty from the government shutdown may lead to increased market volatility, but stability is expected in the short term [10] - Current mortgage rates present opportunities for potential home buyers, remaining below the average of the past year [10] - Increased pending home sales indicate growing buyer confidence, although affordability remains a challenge [11] - Caution is advised as new listings are at a historic low, driven by hesitant sellers amid sluggish demand [12]

Core Insights - Mortgage rates have increased, with the average rate on a 30-year fixed mortgage rising to 6.34% from 6.3% last week, and 6.12% a year ago [1][2] - The average rate on a 15-year fixed mortgage climbed to 5.55% from 5.49% last week, compared to 5.25% a year ago [2][3] - Despite the rise in mortgage rates, they remain below the 52-week average of 6.71%, indicating a potential for continued buyer confidence in the market [2] Mortgage Market Trends - The increase in mortgage rates has coincided with a 4% rise in pending home sales in August, surpassing analyst expectations of a 0.2% increase, suggesting a rebound in buyer activity [4] - Lower mortgage rates in recent months have contributed to increased buyer confidence, as indicated by the uptick in pending home sales [2][4] Economic Context - Mortgage rates are expected to remain stable as markets assess the implications of a potential government shutdown, which could affect monetary policy decisions [5] - The uncertainty surrounding the government shutdown may lead potential buyers to delay home purchases, particularly in areas with a higher concentration of federal workers [6]

Core Insights - The 30-year fixed-rate mortgage (FRM) averaged 6.34% as of October 2, 2025, showing an increase from the previous week's average of 6.30% and a rise from 6.12% a year ago [1][4] - The 15-year FRM also increased, averaging 5.55% this week compared to 5.49% last week and 5.25% a year ago [4] - Despite the increase, the current 30-year FRM remains below its 52-week average of 6.71%, indicating a potential opportunity for homebuyers [2] Market Context - The increase in mortgage rates comes alongside a reported rise in pending home sales, suggesting that homebuyers are gaining confidence in the market [2] - Freddie Mac's mission focuses on promoting liquidity, stability, and affordability in the housing market, which has been a consistent effort since 1970 [3]

Core Insights - The 30-year fixed-rate mortgage (FRM) averaged 6.34% as of October 2, 2025, an increase from 6.30% the previous week and up from 6.12% a year ago [1][5] - The 15-year FRM also saw an increase, averaging 5.55% compared to 5.49% last week and 5.25% a year ago [5] - Despite the increase, the current 30-year FRM remains below its 52-week average of 6.71%, indicating a potential opportunity for homebuyers [2] Market Context - The recent months have shown lower mortgage rates, contributing to increased confidence among homebuyers, as evidenced by a rise in pending home sales [2] - Freddie Mac's mission focuses on promoting liquidity, stability, and affordability in the housing market, which has been a consistent effort since 1970 [3]

With the U.S. government shutdown in effect and little progress made on an eventual reopening, mortgage lenders are busy measuring operational impacts while introducing strategies drawn on past experience to keep business flowing. As of Wednesday, many questions remain about the full extent of the impact on support provided to lenders, with most federal services coming to a halt. The disruption of services provided by government offices essential to home finance, particularly the Federal Housing Agency and ...

This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Dive Brief: Last week, Fannie Mae took steps to foreclose on a $61.5 million loan behind two New York City properties with nearly 500 units in the Bronx, according to Bisnow.  Fannie Mae claims Fordham Fulton Realty Corp. and guarantor Rajmattie Persaud have defaulted on a commercial mortgage covering Fordham Tower and Fulton Towers, claiming the borrower h ...