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The bureau’s new office of competition and innovation will promote competition, host events and seek to make it easier for consumers to switch financial providers.

Martin Gruenberg, the agency' acting chair, said it will be watching commercial real estate and other assets as matters of “ongoing supervisory attention.” 

Revenue was also slashed by lower per-employee productivity and slipping application pull-through.

Mortgage Cadence, the No. 3 loan origination system provider, believes it will pick up market share among nonbanks if the deal between the two heavyweight entities goes through.

Sales of new U.S. homes plummeted in April by the most in nearly nine years, dented by the combination of high prices and a steep climb in mortgage rates.

Yields have jumped so much this year, nearly doubling those on 10-year Treasuries, that it recalls past buying opportunities that paid off when the tide turned.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

Investors could gravitate to a company willing to invest in itself in a challenging market , but share repurchases have downsides.

Federal Reserve Bank of Atlanta President Raphael Bostic said policy makers could potentially pause interest-rate increases in September after hiking by a half point at each of their next two meetings.

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.