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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.

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.

But a great deal of variation in distress levels were reported between individual markets and property sectors, according to two new reports.

Spreads with the 10-year Treasury are unlikely to narrow from outsized levels even as inflation cools and Fed tightening ends, said Odeta Kushi, an FA economist.

The securities have been hard to sell in part because the bonds will probably pay below-market coupons for years.

The fintech's platform can assess a customer's financial profile, run it through underwriting software and draft a pre-approval letter in minutes, according to a demo.