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The Consumer Financial Protection Bureau's rules and enforcement actions to date could be open to legal challenges by banks and other companies after a three-judge panel deemed the agency's payday lending rule unconstitutional because of the way the agency is funded, legal experts say.

The Mortgage Bankers Association and Housing Policy Council are asking for the Federal Housing Finance Agency to make government-sponsored enterprise data available as part of the establishment of its new Office of Technology.

The companies formed a partnership in 2019, in which the lender would handle mortgage processing, underwriting and closing for the digital-only bank.

The data aggregator announced a product this week that allows banks to build data privacy portals, where consumers can see who has access to their account data.

However, the benchmark 10-year Treasury has been above 4% on a sustained basis for most of the prior week, gaining 18 bps, an indication of future increases for home loans.

The Community Home Lenders of America's latest report finds that independent mortgage banks picked up the slack as many large banks abandoned mortgage lending or imposed credit overlays, two of its members say.

The U.S. Court of Appeals for the 5th Circuit overturned a lower court's ruling, declaring the agency's funding structure and its 2017 payday lending rule invalid.

Sales of previously owned U.S. homes fell for an eighth straight month in September, underscoring how soaring mortgage rates are punishing the housing market. 

The numbers contrast other loan performance statistics that show payments that have been late for less than 90 days have been creeping up a little.

Some of the hacks in question are confirmed to have impacted millions of customers, while the full scope of other incidents have yet to be disclosed.