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Wells Fargo directed its bilingual team to steer customers away from products with no closing costs toward "predatory lending options" without disclosing the costs, in part by refusing to provide Spanish-language written materials, according to the complaint.

Some pandemic-related gains have been ceded to depositories, national numbers from last year's Home Mortgage Disclosure Act reporting confirm.

The Federal Reserve, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration have finalized guidance on handling troubled debt.

Purchase volumes reached their highest level since early May, but current numbers sit 30% lower than where they were a year ago, the Mortgage Bankers Association said.

The watchdog claims that during internal testing, the company illegally processed $2.3 billion in mortgage payments.

Researchers at the government-sponsored enterprise also maintained their outlook for a modest recession but moved anticipated onset to the fourth quarter this year.

Over one-third of the struggling borrowers who received recast loan terms in the first quarter cut their monthly obligation by 20% or more.

After holding at its last meeting, the Federal Open Market Committee may decide to raise rates again in July.

Millions of would-be borrowers are reportedly "doubling up" by sharing homes with nonrelatives, Zillow found.

Realtor, mortgage banking, depository, securities, community lending, building, insurer, credit union and fair housing groups foresee operational complexities.