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Increases in refinances, both in applications and average size, help lead overall numbers higher

The president will oust Federal Housing Finance Agency Director Mark Calabria, a Trump appointee, now that the high court says the chief executive can do so at will. It's "critical that the agency implement the administration’s housing policies," said a White House official.

The justices on Wednesday threw out a key part of a challenge brought by firms including Paulson & Co., Pershing Square Capital Management and Fairholme Funds ​to the government’s collection of more than $100 billion in profits from Fannie Mae and Freddie Mac.

A majority of the justices concluded that the law establishing the Federal Housing Finance Agency violated the Constitution when it said a president may only remove the agency's chief "for cause."

Evaluations for payment reduction still represent a relatively small share of home retention actions but their uptick could add incrementally to servicers’ workloads.

The high court sent the case back to the New York-based 2nd U.S. Circuit Court of Appeals to revisit whether the dispute can continue as a class action lawsuit.

The Consumer Financial Protection Bureau at press time had promised to take the sudden nature of the new holiday’s implementation into consideration as it consulted with other agencies on the issue.

The new calculation of borrowers’ monthly obligations will allow for a higher debt load from tuition, potentially opening eligibility to more Black applicants, according to public officials.

The deal will add $7.8 billion in reverse mortgage subservicing to Ocwen $6.7 billion portfolio.

The data also showed that more purchase loans were made to low- and moderate-income borrowers last year, but fewer refinances.