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Manny Alvarez, the head of California’s Department of Financial Protection and Innovation, told staff that he plans to leave on June 18. Chief Deputy Commissioner Chris Shultz will be appointed to lead the agency on an interim basis.

The sooner troubled loans can be put on a more proactive servicing path, the more likely the distressed homeowners will be able to avoid foreclosure, writes the vice president of market economics at Auction.com.

The more gradual upward drift in job numbers this year may hint at a slight softening in the market that analysts have flagged.

The agency is looking to clarify existing regulations around how these accounts are handled, based on questions it received.

The four-week high in forbearance exits also helped drive the considerable drop in plans, according to Black Knight.

Sen. Pat Toomey of Pennsylvania, the Banking Committee's top Republican, is talking up the prospects of a bipartisan deal to overhaul Fannie Mae and Freddie Mac. But Democratic leaders sound less motivated to change the status quo for the government-sponsored enterprises.

Net production income was down from its peak in the third quarter of last year, but it set a survey record for the period between January and March.

Refinancings more than doubled the year-ago amount and made up for the slowed purchase activity, according to Attom Data Solutions.

While there was a small uptick in missed payments for multifamily loans, the rate remained in the same area it's been at for the last year, according to the Mortgage Bankers Association.

The departures of Bryan Schneider and Peggy Twohig come as the Biden administration's nominee to run the consumer bureau awaits Senate confirmation.