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The National Association of Realtors' index of contract signings to purchase previously owned homes declined 1.5% to 71.4, the lowest in data back to 2001, the group reported Thursday.

During a second day of comparatively mild questioning from lawmakers in semiannual oversight hearings, Consumer Financial Protection Bureau Director Rohit Chopra said artificial intelligence could exacerbate existing weaknesses in the financial system without tighter protections.

The 30-year average declined for the fifth consecutive week, as purchase demand picking up at the same time, according to Freddie Mac.

Kenon Chen, executive vice president, strategy and growth, at Clear Capital, discusses data sourcing that can best serve the mortgage and underwriting process and how it can be done in an ethical way to achieve maximum benefit.

Whether the rally extends into December and then 2024 depends on if the principal forces behind it — signs that the economy and inflation are slowing and that the Federal Reserve is done hiking interest rates — keep building.

The trend exists in all past-due categories for subprime mortgages, but the numbers are still below levels seen just before the pandemic, Vantagescore found.

The top five lenders have a combined retail home loan volume of more than $26 billion at the end of Q3 2023.

Under the proposal, the maximum allowable rehabilitation costs for the agency's limited program will rise to at least $50,000 to account for increases in repair expenses.

Net income at banks fell 4.6% year over year in the third quarter, though it remained above pre-pandemic levels, according to the latest Quarterly Banking Profile. FDIC Chairman Gruenberg cautioned about deteriorating commercial real estate loans and unrealized losses on securities in a high interest rate enviroment.

While House Republicans and Consumer Financial Protection Bureau Director Rohit Chopra normally clash, Republicans offered unusual praise for Chopra's efforts around data privacy for consumers.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.

Morais, who leads the auto lender's consumer and commercial banking divisions, is preparing to leave as Ally Financial conducts a search for its next chief executive officer. She had been seen as a potential candidate to replace outgoing CEO Jeffrey Brown.

The conflict of interest rule for securitizations doesn't appear to discourage routine transactions, but could add to nonbank compliance costs.

Rising purchase activity countered falling refinances, as declining interest rates helped bring some aspiring buyers to market, the Mortgage Bankers Association said.

To date, all of the lawsuits accuse the servicer of failing to secure and safeguard customers personal identifiable information.

Of the top five factors influencing a home buying decision, an Assurance IQ survey of real estate agents said price and affordability was at the top, followed by financing & mortgage options.

The Federal Reserve's vice chair for supervision said new definitions around community development activities and the ability for banks to invest outside their immediate assessment areas could be a boon to Native Americans and their communities.

The hike was driven by modest home price gains this year, following a larger conforming loan limit boost in 2022 in reaction to then-double-digit home price growth.

At least 400 loan officers working for Bank of America violated the requirements of the Home Mortgage Disclosure Act by failing to collect the race, ethnicity and sex of mortgage applicants and then falsely reporting that the applicants had chosen not to respond, according to the Consumer Financial Protection Bureau.

All eyes are on the Federal Reserve and monetary policy. Join us as Scott Anderson, chief U.S. economist and managing director at BMO Economics, breaks down the latest FOMC meeting.