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The uptick occurred as conforming rates pulled back for the second week in a row, coming in below the jumbo average according to the Mortgage Bankers Association.

After falling to a 10-year low in April, credit on the market diminished further last month, with government, conforming and jumbo offerings all decreasing, according to the Mortgage Bankers Association.

The lender has cut over 80% of its workforce since late 2021 and posted an $889 million net loss in 2022, it revealed in a financial filing.

A West Virginia homeowner is suing the banking giant for charges incurred when paying by phone, claiming breach of contract and violation of consumer protection laws.

The government-sponsored enterprise plans to further decentralize security services, which will enable risk management across the business, said Chita Elango, senior director of application security.

Consumer Financial Protection Bureau Director Rohit Chopra faces tough questions next week testifying before the Senate Banking Committee and House Financial Services Committee.

More than any real world problem posed by IMBs, it is the government in all of its manifestations that poses a significant risk to the world of mortgage finance and the housing sector more generally, writes the Chairman of Whalen Global Advisors.

Government-backed activity, though, managed to grow, which helped to shrink purchase-loan sizes to their smallest in over two months, the Mortgage Bankers Association said.

The government-sponsored enterprise has been using a predictive Jupiter Intelligence score suite to review its more than 17 million residential mortgage-related assets.

Construction activity in smaller cities also saw a significant annual decline, according to the National Association of Home Builders.