Origination

With Mortgage Bankers Association numbers showing just 57% were profitable in the second quarter, companies have tough decisions to make, but they have options that will help many stay the course.

The amounts canceled may not clear away enough debt to help all recipients immediately qualify or improve their ability to repay, but over time the savings may bolster originations and performance.

The software for lenders is a bright spot for the fintech, which is reeling from a difficult second quarter in which it recorded a heavy loss due to an assessment of its title business.

Home Partners of America, the single-family landlord owned by Blackstone Inc., will stop buying homes in 38 US cities, becoming the latest institutional investor to back away from an overheated housing market.

The company, which provides "buy before you sell" and cash offer financing, cited a challenging real estate market and grim venture-capital outlook.

Cybersecurity expenses and threats

Better-than-expected economic data helped lead to the steep acceleration of the 30-year average, while the 15-year also shot up.

U.S. pending home sales fell in July for the sixth time this year to the lowest level since the start of the pandemic, extending the housing market's sharp downturn as high borrowing costs sideline prospective buyers.

Sales of new US homes fell in July for the sixth time this year to the slowest pace since early 2016, extending a months-long deterioration in the housing market fueled by high borrowing costs and a pullback in demand.

Government-backed applications picked up despite rising rates last week, but a decline in conventional loans drove overall volumes down.