The Latest

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

The judge sided with Massachusetts officials in a review of their lawsuit against Hometap, who pushed back on descriptions of its products as "illegal" loans.

While still higher than the norm, the reduction in this spread is good news when it comes to mortgage rates for potential homebuyers as well as current owners.

The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.

Successfully taking out Cook would give Trump the chance of gaining a majority of his picks on the seven-member Board of Governors. The board is scheduled in February 2026 to vote.

Fintech loan provider Knock said the transaction will allow it to accelerate funding for its bridge financing originations, which surged 126% year over year.

Fed cut talk fuels hopes of lower mortgage rates. A drop could expose multiple buckets of $200B–$300B in MBS to refi risk, shifting the mortgage market.

President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.

Bank industry advocates, housing groups and CRA veterans say the rule is overly complexity and burdensome, but even they agree pre-approving CRA-eligible activities was a good idea.

Contract signings on new single-family homes ticked down to a 652,000 annualized rate, with the strongest demand in the West, according to a government report issued Monday.