Origination

Rates for 30-year mortgages dropped to the lowest level in more than three years as U.K. voters' decision to leave the European Union drove investors to the safety of American government bonds that guide home loans.

BancorpSouth Bank agreed Wednesday to a $10.6 million settlement with the Consumer Financial Protection Bureau and the Justice Department for allegedly discriminatory mortgage lending practices that harmed minorities.

The Federal Housing Finance Agency is soliciting industry input on how to improve Fannie Mae and Freddie Mac's credit risk transfer transactions, for the first time considering front-end transactions rather than back-end deals.

Mortgage application activity decreased 2.6% from one week earlier, according to data from the Mortgage Bankers Association.

Contracts to purchase previously owned homes fell more than projected in May, a sign demand cooled after a robust start to the busiest selling season of the year.

The Consumer Financial Protection Bureau is keeping lenders in the dark about how it will ensure borrower data is secure and private under the expanded Home Mortgage Disclosure Act reporting requirements.

Fannie Mae and Freddie Mac would be put through receivership and turned into lender-owned insurers under a housing-finance overhaul plan co-authored by the companies' former regulator.

The Federal Home Loan banks of Topeka and San Francisco have signed up to participate in a Mortgage Partnership Finance program that pools and securitizes government-backed loans via Ginnie Mae.

The Connecticut Housing Finance Authority intends to offer up to $63 million in fixed-rate bonds on Tuesday and $23 million as variable rate on July 13.

Home prices are more likely to go down in states with economies driven by the energy industry than across the country overall, according to Arch Mortgage Insurance.