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The central bank has been under pressure to modernize its last-resort lending operation since the failure of three large regional banks last year.

The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.

Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.

The new offering from United Wholesale Mortgage replaces a July through Labor Day promotion that only covered certain FHA and VA refinance products.

Borrowers who worked with third party originators last year will save on average over $10,000 over the life of their loan, according to an analysis of public data.

The bureau claimed Newday USA deceived homeowners by failing to disclose the costs associated with a cash-out refinance when compared alongside their existing mortgages.

Recent rate movements have failed to result in significant purchase growth, but refinances are providing lenders some lift.

New rules from Treasury's Financial Crimes Enforcement Network will mandate reporting for non-financed real estate transfers and expand anti-money-laundering requirements for investment advisors.

Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.

The latest proposal for the two government-sponsored enterprises' affordable housing targets scales down some benchmarks for a tough market, but also raises one.

The company will fund the discount across the first two years through a special escrow account.

The Federal Reserve Chair's words were enough to send Treasury yields and the dollar lower and stocks higher on Friday as investors perceived a green light to take on risk. 

In a complaint filed by the Justice Department on Friday, antitrust enforcers said RealPage's software, which helps landlords set rental unit pricing, has effectively raised prices on renters illegally.

Two Federal Reserve officials said they believe it's appropriate for the U.S. central bank to begin lowering interest rates soon, and that the pace of subsequent cutting should be "gradual" and "methodical."

Industry economists are now confident about predictions for mortgage rate movements through the end of next year; the question is if that translates to increased home sales.

Federal Reserve Gov. Michelle Bowman said she has concerns about an uptick in inflation and will need to see more positive data before supporting an interest rate cut.

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."

10-Q filings with the SEC reveal additional information regarding the financial wherewithal of public mortgage lenders in the second quarter.

The changes laid out in the agreement are technical, revolving around paperwork consumers complete at the beginning of the buying or selling process, and they add new wrinkles to an already complicated undertaking.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.