Secondary

Industry forecasts for 2017 mortgage volume assumed a continuation of current housing and economic policies under a Hillary Clinton administration. But with Donald Trump's win, analysts are sorting out what, if any, adjustments are needed to those projections.

MTLGQ Investors, a Goldman Sachs affiliate, submitted the winning bids in Fannie Mae's sale of $1.3 million of nonperforming loans.

The president-elect faces major questions about credit access, affordable housing, the future of Dodd-Frank and the structure of the Consumer Financial Protection Bureau and the extent to which he will act upon them remains unclear.

The historic election has presented an opportunity for a comprehensive overhaul of the housing finance system after eight years of gridlock.

While mortgage rates moved somewhat higher in the period before the election, after the results were known, the yield on the 10-year Treasury broke above 2%, according to Freddie Mac.

The heightened refinancing activity is seen as increasing Ginnie Mae prepayment speeds and reducing the value of mortgage servicing rights.

Mortgage lobbyists are eager to seize on Republican victories in the House, Senate and White House races, hoping to advance the industry's aims in the next Congress.

The overwhelming majority of candidates supported by the mortgage industry by and large performed well on Election Day, with one notable exception.

Farmer Mac's third-quarter net income increased 95% to $16.4 million over the same period one year ago due to a $5.4 million increase in the fair value of financial derivatives.

There was another surprise Tuesday as Republicans managed to keep a Senate majority following the elections, likely giving the gavel of the Banking Committee to Sen. Mike Crapo, a right-of-center Idaho lawmaker who has proven willing to reach across the political aisle in the past.