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Purchases of new single-family homes increased 4.4% to an annualized 714,000 pace after downward revisions to prior months, government data showed Wednesday.

In a seven-day period that saw several marks — including conforming interest rates — surge or dip past longtime highs and lows, overall mortgage activity cooled for a fifth consecutive week, according to the Mortgage Bankers Association.

The lender, which endured two difficult years of limbo before its listing, is touting a capital infusion of at least $550 million as a key to future growth.

The Alabama-based regional bank didn't effectively track whether some loans complied with flood insurance regulations, according to the Fed. Regions said that it had fixed the issue by 2017.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.

The American Bankers Association and Bank Policy Institute Tuesday urged bank regulators to delay the finalization of its Community Reinvestment Act rule, saying regulators have not calibrated the rule to account for upcoming capital changes or considered whether courts will find the Consumer Financial Protection Bureau's funding structure constitutional.

Contract closings are at a 4.07 million annualized pace, close to the slowest rate since 2010.

The hedge fund accepted a $639 million offer from the mortgage REIT last month.

Figure, Oportun and Brex are among the fintechs that have dropped their applications for a banking charter.

The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.