Friday's biggest mortgage news came from the two lenders reporting into a high-rate quarter. HousingWire reports UWM plans to sell mortgage servicing rights of up to $80 billion in the fourth quarter, with the proceeds and a preferred raise aimed at paying down nonfunding debt, and National Mortgage News says the company expects net income between $205 million and $220 million, with servicing results offsetting what analysts called an originations miss. Newrez funded $12.9 billion in the third quarter, HousingWire reports, with originations down 19% while servicing income and technology investments lifted profits; National Mortgage News notes the company put a dollar figure on its AI cost savings. Two companies, one message: at today's rates, the servicing book is carrying the income statement.
Yesterday's edition walked through the housing executive order section by section. The follow-up reaction HousingWire collected Friday reads the order as largely benign for mortgage and title insurers, which fits the text: both of its mortgage pieces depend on FHFA decisions that have not been made.
Bonds gave back a little on Friday without undoing the week. Treasury's 10-year closed at 5.00%, up from 4.96% on Thursday but still below the 5.13% close on Wednesday, and Mortgage News Daily called Friday calm and sideways in the bigger picture, slightly weaker on the day but much stronger on the week. Bankrate's 30-year fixed reads 7.36% this morning, up from 7.34%. HousingWire reports the slightly lower rates paused the slide in housing demand, and that is the right size for the move: a pause, not a turn. Freddie Mac's PMMS read 7.32% on Thursday, down 0.08 on the week and still 0.29 above a month ago.
The credit side deserves a look too. HousingWire reports foreclosure auctions are up 25% over the past year to a post-pandemic peak, with loans originated in 2022 or later making up 46% of third-quarter auction activity. Realtor.com's analysis, also via HousingWire, finds 65.6% of outstanding mortgages carried rates below 5% in Q2 2026, so the lock-in effect still holds the resale supply down. And an AD Mortgage survey of more than 250 respondents found 34.5% expect conventional channel growth into 2027 while 55% cite income and DTI hurdles.
On the operations side, appraisers told HousingWire that hidden interiors and off-market sales limit comp verification and will stretch turnaround times, which lands as the UAD 3.6 and new URAR mandate takes effect November 2. New York also settled with affiliates of the asset manager Shelving Rock, which paid a fine over claims they tried to collect on old mortgages after the statute of limitations had run, National Mortgage News reports.
pull every purchase file set to order an appraisal in the next two weeks and add two business days to the appraisal line on the timeline you share with the buyer and their agent.