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A second bill formally making it a felony only passed one house of the state legislature.

Both loan volumes and interest rates came in mostly flat, but the jumbo average ran ahead of the conforming for the second week in a row, the Mortgage Bankers Association said.

"We will continue to make our decisions meeting by meeting, based on the totality of incoming data and their implications for the outlook for economic activity and inflation, as well as the balance of risks," he wrote in prepared remarks to be delivered to the House Financial Services Committee.

Under new terms of its program, the Aloha State will also extend assistance to reverse mortgage holders as well as some borrowers with nondelinquent loans.

Also, Fannie Mae finds new board member, U.S. Mortgage Insurers ups legal, government relations teams, PRMG names general counsel and Down Payment Resource expands.

Fee hikes at the government-sponsored enterprises are one remedy, the government-sponsored enterprise's regulator noted in its annual report to Congress.

The construction manager for the beleaguered New Jersey mall is suing JPMorgan Chase & Co. to recover more than $30 million of unpaid work and accrued interest.

Federal Reserve Vice Chair for Supervision Michael Barr said he is overseeing a six-month project to overall supervisory culture, practices, behavior and tools. He said regulatory changes will also be explored.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

Prospective borrowers are flocking to newly built properties as current homeowners shy away from listings due to high mortgage rates.