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The government-sponsored enterprise's net income was balanced by climbing interest rates, which drove a large increase in fair value gains.

Home equity investment (HEI) agreements homeowners receive upfront cash payments in exchange for giving an investor a stake in the property and the right to collect returns.

Despite the overall decline, refinances saw an uptick even as rates approached 8%, with volumes up in both conventional and government-sponsored markets, the Mortgage Bankers Association said.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

Banks already share consumers' transaction data with fintechs, mostly through data aggregators, and often grudgingly through screen scraping. The proposed 1033 regulation could give more control to consumers, better data access to fintechs and a competitive edge to big banks over smaller ones, some observers say.

The 10-year Treasury yield crossed 5% for the first time in 16 years, propelled by expectations the Federal Reserve will maintain elevated interest rates and that the government will further boost bond sales to cover widening deficits.

Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.

Amid the release of Q3 bank earnings, the Chairman of Whalen Global Advisors ponders whether efforts from the government-related entities help or hurt the independent mortgage bankers that are taking up a greater and greater share of 1-4 family lending and servicing.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

Adjustable-rate mortgages nabbed their largest share of activity in almost a year, as the 30-year conforming average inched closer to 8%, the Mortgage Bankers Association said.

But the industry will still have to go through some pain in 2024, Wharton Professor Susan Wachter told attendees at the Mortgage Bankers Association annual convention.

Homebuilder sentiment fell to a nine-month low in October, the latest indication of the toll on residential real estate from soaring mortgage rates and declining affordability.

The lucrative broker commission system at the heart of the residential housing market is facing unprecedented antitrust scrutiny from the Justice Department and two private class-action lawsuits that risk weakening the National Association of Realtors, the industry's powerful lobbying group.

Expected income earned through rental of the units will be considered in underwriting for FHA-backed mortgages and rehabilitation loans.

Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices

An analysis of previously released S&P data suggests the Federal Housing Finance Agency's initiative would have mixed impacts on the price of loans and eligibility that vary by individual.

JPMorgan Chase now tops Wells Fargo in third-party servicing, origination volume and on-balance-sheet home loans, according to company filings.

The Department of Housing and Urban Development affiliate is making it easier to repackage securities backed exclusively by these mortgages.

The Consumer Financial Protection Bureau and the Justice Department warned banks and other lenders that credit applicants cannot be rejected due to their immigration status.

Numbers the Federal Housing Finance Agency just reported for 2022 were the third lowest since the program began, and this year's probably won't be high either.