Digital Mortgage Direct Page

On the other hand, the economists from the UCLA Anderson Forecast claim the U.S. is not currently in a recession and that the chance of a recession in the next 12 months is less than 50%.

The average purchase loan amount rose as a brief increase in demand for government-sponsored loan programs cooled.

The former head of the agency said a decision last year to suspend caps on investor loans has further induced demand in an already hot market. Other experts say a supply-demand imbalance is the true driving force.

Sales of previously owned U.S. homes fell for the seventh straight month in August as rising mortgage rates continued to erode affordability and deal a considerable blow to the housing market. 

Mike Markland is the founder and CEO of ATMA.

Some stakeholders in the mortgage industry are concerned about the late 2023 deadline, but the government bond insurer said most are already prepared, and it'll work with those who aren't.

Nicole Elam is president and chief executive of the National Bankers Association.

However, a lower share of applications were rejected for Blacks, Hispanics and Asians, while whites had the smallest percentage change, a Consumer Financial Protection Bureau report said.

The filing is the first joint action by the Federal Trade Commission and California Department of Financial Protection and Innovation to rely, in part, on the enforcement of the state's 2020 consumer protection law.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year.