Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon.
– Mortgage rates trickled down the week of April 20, with the 30-year fixed-rate dropping from 6.30% to 6.23%, but economists such Bright MLS’ Lisa Sturtevant and Realtor.com®’s Joel Berner said that economic headwinds remain uncertain. These declining rates have also brought a weekly increase in home purchase activity, per findings from the Mortgage Bankers Association (MBA).
– LendingTree has found that while average monthly mortgage payments fell annually by 2.4% in 2025 (from $1,990 in 2024 to $1,942 in 2025), over 24% of homeowners still spend 30% or more of their monthly income on mortgage payments.
– Federal Housing Finance Agency (FHFA) Director Bill Pulte and Housing and Urban Development (HUD) Secretary Scott Turner announced on Wednesday, April 22 that Fannie Mae and Freddie Mac will begin accepting VantageScore 4.0 and FICO 10T credit scores in mortgage underwriting; unlike older FICO scores, these scores account for a borrower’s rental and utility payment history. The move is supported by the MBA.
– Fannie Mae has also issued a new “governance framework” around the usage of AI in mortgage origination and servicing practices, following similar rules issued by Freddie Mac that went into effect last month. Both entities focus their new rules on reporting and transparency, with Freddie’s rules seemingly stricter—for instance, requiring C-suite approval of AI usage. Both also require the “prompt disclosure” of AI usage by the lender or servicer, when the GSEs ask, while Fannie explicitly demands lenders and servicers “incorporate the characteristics of trustworthy and ethical AI.”
– loanDepot has announced it is partnering with fintech company Figure Technology Solutions to launch a new loan product that the companies claim can approve an applicant in about five minutes and then procure funding in a few days.
– In other company news, loanDepot is also currently engaged in litigation with competitor Nexa Lending, having filed a lawsuit in Mississippi federal court claiming Nexa helped two loan officers steal confidential information about loanDepot’s business to attract clients to Nexa. Nexa has countersued, claiming loanDepot has engaged in the same behavior.
– Pennsylvania-based mortgage lender Newrez is facing a $4.2 million penalty from the Washington State Department of Financial Institutions due to more than 125 consumer complaints made between 2021 and 2026. Regulators making the charges claim that Newrez offered inaccurate information about loan, escrow and insurance obligations to borrowers, performed incorrect onboarding on several loans, oversaw improper maintenance of escrow accounts and more complaints. In a statement to National Mortgage News, Newrez said that: “While we are still reviewing the specifics of each claim, we fundamentally disagree with the state’s charges and the way our practices have been characterized and intend to vigorously contest the action and its allegations.”
– The MBA found that mortgage delinquencies on commercial properties increased during the first quarter of 2026, rising from 3.86% in Q4 2025 to 4.02% in Q1 2026. Commercial real estate came under severe stress at the onset of the Covid-19 pandemic due in part to social isolation and a rollback of in-office work.
– Maine has enacted a new law, signed by Governor Janet Mills (D), which creates new regulations for home equity investment products. The law officially classifies them as “residential mortgage loans” and brings them under similar regulation as other home lending products.
– Former Rocket Pro executive Daniel Sogorka has launched a new platform, Origna8.com, aimed at lenders that offers a bundled package of broker technology, marketing, recruitment, lead generation and more.
