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However, higher property values are likely to mitigate any potential large increase in abandonments because troubled borrowers are less likely to walk away.

The largest increases in new listings were in the West and the South, in cities including Austin, Texas, and Phoenix, Arizona.

Fannie Mae and Freddie Mac will need to submit annual capital plans to the agency. The move follows the introduction of new public disclosure requirements through a separate action last week.

The effects on nonbanks will depend on the mix between their production and servicing operations, Fitch Ratings said.

Dynex Capital CEO Byron Boston sees the slow process of unwinding the Fed’s balance sheet, which officially began Wednesday, as an opportunity for his company.

JPMorgan Chase CEO Jamie Dimon expressed even deeper concern Wednesday about the likelihood of an economic downturn than he has in recent months. Wells Fargo CEO Charlie Scharf was less pessimistic, but he still spoke of the “reality that the economy has to slow.”

The Federal Reserve is about to start shrinking its $8.9 trillion balance sheet, deploying a second tool along side higher interest rates to curb inflation, though officials don’t know just how effective it will be.

In May, buyers in 15 of the 100 largest housing markets paid more than 50% over historic trends, up from 13 in April and 2 in July 2021, a study found.

Kristy Carstensen, U.S. Bank Payment Services' chief financial officer, discusses how digital innovation projects are opening finance to more communities, and the work that remains.

Refinances and purchases both slowed last week, while average loan sizes registered an uptick.