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Fannie Mae and Freddie Mac can likely withstand potential credit losses twice as high as last year's in the latest scenario, but they are at more risk of slipping into the red.

Profit in the first half of the year at the 11 Home Loan banks already exceeds 2022's total.

The company is rolling out a special-purpose credit program to help address what it describes as "the biggest barriers to achieving homeownership." Such programs are gaining popularity among banks.

The bank, which already agreed to refund home loan applicants over the charges, is asking a federal judge to toss the suit on numerous grounds.

Volumes dropped below 900,000 in the first three months this year, while the cumulative loan balance nationwide also declined on a quarterly basis for the first time since 2015.

The agency's president, Alanna McCargo, called the nonbank liquidity issue "the biggest of our time," while speaking at the Bipartisan Policy Center Tuesday.

The lender and servicer posted its highest pull-through weighted gain-on-sale margin in almost two years while recording modest production growth.

The news helped drive 30-year mortgage averages above 7% last week, according to the Mortgage Bankers Association.

HPC and the MBA called on John Bell, executive director at the agency, to disclose a blueprint of the VASP program and allow for a 30-day commentary period.

Under settlements with the SEC, Wells Fargo and BNP Paribas will pay millions of dollars in penalties for employees using unofficial communications like WhatsApp. In all 11 firms agreed to pay penalties, while the CFTC took separate actions.

A Texas judge dealt the Consumer Financial Protection Bureau a setback that has changed the bureau's calculus for furthering its near-term agenda. But an ambitious Supreme Court could also call all of the bureau's final rules into question.

But its mortgage business remains a money loser, and it wasn't a great period for the acquisition target either.

BofA is the first large Wall Street bank to officially reverse its call amid growing optimism about the economic outlook.

The company, whose core business is helping real estate agents connect with homebuyers, said it's projecting third-quarter revenue of $458 million to $486 million.

The move was "not being driven by fundamental credit, capital or liquidity deterioration at the firms," the firm said.

Volumes were driven down largely by slowing conventional purchase activity resulting from ongoing interest rate and affordability challenges, the Mortgage Bankers Association said.

The Federal Reserve is leading the push for broader, more standardized risk-capital rules, yet some of its board members, other regulators and industry groups are uncomfortable with the proposal.

But the government-sponsored enterprise is still concerned about the fiscal health of its lender counterparties as volumes are down considerably from last year.

The decision from the Federal Housing Finance Agency to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit, writes the founder and CEO of Financial Services Innovation Coalition and a certified general appraiser at the Dawson Valuation Group.

The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged.