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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."

The industry would benefit from a measured approach that eventually builds in-house expertise without overreliance on vendors, experts said.

The lawsuit, which the plaintiff seeks class certification for, involves a transfer, overpayments during a grace period and allegations of improper late fees.

The revisions also revise how the surplus is calculated to evaluate risk of the bonds used as part of the available asset portion of the capital requirements.

If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry. 

The 30-year fixed rate mortgage is lingering just shy of 6.5% level, which is not low enough to bring home purchasers back into the market, observers said.

"Despite the modest gain, home sales are still sluggish," said NAR Chief Economist Lawrence Yun in a prepared statement. "But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."

The Federal Housing Administration's renovation program parameters hadn't been updated in a decade, faling behind similar products from other providers. The Nov. 4 changes will bring it up to speed.

Total mortgage delinquencies dropped but Hurricane Beryl boosted late payments locally and runoff risk surged, Intercontinental Exchange's First Look report shows.

Fay disputes claims it violated servicing laws and a previous order related to dual tracking allegations but agreed to settle without admission of wrongdoing.