Mortgage applications

But profits more than doubled on the servicing side, according to the Mortgage Bankers Association.

The falloff in government-backed applications outpaced the overall decline, with volume down by over 8%, the Mortgage Bankers Association said.

Purchase applications increased again, but changes in home prices and interest rates are bringing only limited affordability relief.

Government-sponsored originations accounted for over half the share of transactions found with "critical" flaws, according to Aces Quality Management.

As application volumes increased, loan sizes also surged, with average purchase amounts now at a 2023 high, according to the Mortgage Bankers Association.

Concerns about the stability of the banking industry helped drive interest rates down, bringing more borrowers to the table, according to the Mortgage Bankers Association.

The increase in federally backed loan activity helped drive overall volumes upward for the first time since early February, even as interest rates jumped again, according to the Mortgage Bankers Association.

The CFPB is requesting input on adding specifications that are intended to alleviate TRID compliance concerns on construction-to-permanent single-close loans and those requiring separate construction and home loan closings.

A week after it dropped to a 28-year low, purchase activity decreased again by over 5%, according to the Mortgage Bankers Association.