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The mortgages are part of a program that received congressional scrutiny earlier this year.

Following New York Community Bancorp's acquisition of Flagstar, the company is ditching the regional bank brands that it long used. CEO Thomas Cangemi calls Flagstar a "neutral" but "patriotic" name that underscores the firm's nationwide expansion strategy.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

As lenders weather lean loan volumes, visionaries are preparing for the next boom with blockchain, AI-driven compliance capabilities and more.

A continued slowdown in refinances, though, drove overall loan-application volumes lower last week, even as the Government Index posted a small gain, according to the Mortgage Bankers Association.

A joint letter from the banking and financial trade groups is the latest effort by the industry and its representatives in Washington to push back against the Basel III capital proposals, which would raise capital significantly for the largest banks.

Any comprehensive overhaul of the Federal Home Loan Bank System will have to navigate a dense thicket of countervailing regulatory and stakeholder priorities.

David Loundy is chairman and CEO of Devon Bank, a Chicago-based community bank with a national mortgage business. He is also an elected member director of the Federal Home Loan Bank of Chicago. He can be reached at David@DevonBank.com.