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The Fed's tests have become a menacing countercyclical force that could further drive down liquidity in the mortgage market over the next year, the chairman of Whalen Global Advisors writes.

Home sales were down by 17% in June, while inventory increased over 27%, compared to numbers from one year ago, according to Remax.

The slowdown in new single-family construction is one of several headwinds homebuilders find themselves facing this summer.

The embattled mortgage business cut approximately 72% of its workforce over a six-month period, according to a Securities and Exchange Commission filing.

Following their largest drop in over a decade one week ago, averages rapidly swung upward as recession talk receded.

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

New starts in the first half of the year came in 19% higher than early 2020, but primarily affected long-delinquent properties protected by moratoriums.

Although refinances picked up after the July 4th holiday, they failed to offset a larger decline in purchases.

The figures reaffirm price pressure are rampant and widespread across the economy, and having effect on real wages.

Jumbo and adjustable-rate offerings increased during the month, but that was offset by a decline in government loans, leading to an overall drop in MBA’s credit availability index.

Wells Fargo CEO Charlie Scharf hired Mike Weinbach in 2020 as part of a broader organizational shake-up. The former JPMorgan Chase executive is leaving in mid-September as the consumer lending group transitions to a new leader.

Higher rates are also affecting the share of loans that actually go all the way to closing, Black Knight found.

A lawyer for the former head of sales alleged that the company is close to losing its warehouse line of credit while unnamed sources in a media report say the plaintiff was slacking off at the end of her tenure with the lender.

After a turbulent period of layoffs, financial losses, allegations of misconduct and other public gaffes, the digital lender attempts to start anew with the hiring of Sushil Sharma as chief growth officer and others.

The appointment of eight new company leaders comes after months of bleak news including allegations of misleading investors, massive layoffs and a still-unfinished effort to go public.

The agency issued an advisory opinion warning that credit reporting bureaus and other entities using credit checks can no longer use disclaimers to bypass privacy protections.

The 30-year average has made a steep reversal over the past two weeks following a large acceleration in mid-June.

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.

California counties must now work to remove decades-old racist language in property records that once banned people of color from buying homes in neighborhoods across the state.

Congressional authorization for credit-preference programs in the Equal Credit Opportunity Act could mitigate disagreements that might arise from the equitable housing finance plans, write two partners at K&L Gates.