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Property losses piled up in Mid-Atlantic and New England states as the tropical storm devastated the East Coast, according to CoreLogic.

While overall volume was down in August, it remained historically strong, particularly in the securitized market for home equity withdrawal loans made to borrowers age 62 and up.

But refinance volume was constrained in recent weeks and many of the new offerings are aimed at low income borrowers, the Mortgage Bankers Association said.

Effects of major economic announcements this summer have had little impact on the lending market, with averages remaining under 3% since July.

Orchard, which offers cash to homebuyers upfront so they can purchase a new residence before selling their old one, raised $100 million to fuel growth in an ultra-competitive housing market that’s pushing shoppers to find new ways to stand out.

The biggest issues facing the mortgage industry involve public policy and all of them feature a political narrative that is ill-informed and largely at odds with market realities, Whalen writes.

But a greater number still expect decreased margins for the fourth straight quarter, due to competitive pressures and shifting demands in purchases and refinances

Both government-sponsored enterprises approve more borrowers across the board than the broader market but the relative progress each has made differs across racial groups, numbers released Wednesday show.

But distressed loans released from backlogs by discontinued foreclosure bans could drive numbers higher eventually, depending on the strength of the housing market

The Office of the Comptroller of the Currency made good on a promise to rescind Community Reinvestment Act reforms finalized by ex-Comptroller Joseph Otting as part of talks with other regulators on an interagency overhaul of the law.