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The Federal Reserve, state supervisors and other bank regulators said they would not penalize institutions that work with impacted borrowers following devastating storms in Florida and Puerto Rico.

Three percent of all mortgages were 30 or more days past due on their scheduled payment or in foreclosure in July.

A federal judge found that the Consumer Financial Protection Bureau overstated the costs and understated the negative impact of exempting 1,700 financial institutions from reporting Home Mortgage Disclosure Act data.

The one established during the pandemic got little use because other government actions led to a refinancing boom, but a housing official fears the industry won't be so lucky next time.

SPCPs are posed as an equitable housing solution but hesitation and confusion about them is persistent in the mortgage industry, housing finance experts said.

The 30-year fixed rate is now at levels last seen in the summer of 2007, according to data from Freddie Mac.

U.S. pending home sales fell in August for the seventh time this year, extending the housing market's downturn as high borrowing costs sideline prospective buyers.

A whistleblower complaint on a $250,000 retention award for a Fannie Mae senior executive prompted the investigation of the Federal Housing Finance Agency's procedures.

The mortgage company plans to buy some of this servicing and also invest in building out technology and default services, Chairman and CEO Jay Bray told attendees at an industry conference.

In a policy proposal published Tuesday, Fed staffers called for supervisory changes to accommodate banks with commercial real estate loans still reeling from COVID.