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The cuts account for 5% of its workforce of 5,791 full-time employees as of the end of June.

An appeals court ruling last week found that the Consumer Financial Protection Bureau's funding structure violates the Constitution, but another court filing shows how the agency might fight back.

Ongoing weakness in housing markets and the economy has now driven purchase activity to its lowest level since 2015, while overall application numbers decreased for the 10th time in 11 weeks.

"The main threat we see is coming from the CFPB, where the single director can act as judge, jury, and executioner, all in one," said Bob Broeksmit, president of the Mortgage Bankers Association

Fannie Mae announced a pilot rollout of a new special-purpose credit program, while Freddie Mac said it is expediting review of similar new programs from lenders during the Mortgage Bankers Association conference this week.

The day after the FOMC announces its policy decision, Christian Scherrmann, U.S. Economist at DWS Group, will offer his take on the meeting, Fed Chair Powell's press conference and what comes next.

The agency expects one in five borrowers to be eligible for the new pricing benefits.

The government guarantor's securitization platform went offline on October 19 and will reemerge on October 25.

But a cooling housing market opened up buying opportunities for some and helped drive the share of FHA-backed purchases upward for the first time in a year, according to new Attom research.

The Consumer Financial Protection Bureau's rules and enforcement actions to date could be open to legal challenges by banks and other companies after a three-judge panel deemed the agency's payday lending rule unconstitutional because of the way the agency is funded, legal experts say.