Origination

Democrats Ritchie Torres and Gregory Meeks called on the New York Home Loan bank to follow the lead of its peers and use alternative credit scoring models for collateral to improve consumers' access to homeownership.

The lender and servicer saw origination volume jump to $6.5 billion as of June 30, up from $3.9 billion the previous quarter.

Moderating interest rates in the first quarter led to changing fortunes from 2022 and 2023, a Transunion report said.

Soaring insurance costs may add to escrowed funds that servicers can earn money on in some cases, but higher premiums also could lead to affordability issues.

The move aims to end a conflict between service-related disability benefits and rental assistance. HUD and the Treasury also are looking at tax credit impacts.

The 30-year fixed rate loan was down 26 basis points as investors reacted early in the week to the employment numbers, according to Freddie Mac.

A study shows a need for brokerages to transform their operations, finding that 79% of them will become unprofitable when the National Association of Realtors' settlement reduces commission rates.

Additions to product menus for cash-out refinancings, adjustable-rate loans and jumbos drive the increase in availability, the Mortgage Bankers Association said.

The Treasury, CFPB and Federal Trade Commission are joining forces to warn consumers about predatory practices in financing solar energy panels.

Vice President Kamala Harris recruited Minnesota's governor to join the Democratic presidential ticket. He's been a longtime advocate for affordable housing and rental protections.