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Rep. Andy Barr, R-Ky., a senior Republican on the House Financial Services Committee, said he intends to press Federal Reserve Chair Jerome Powell to refine the Basel III capital proposal before it is finalized.

The mid-sized lender will accept locks through Oct. 31, 2023, per a company announcement.

Despite the overall decline, refinances saw an uptick even as rates approached 8%, with volumes up in both conventional and government-sponsored markets, the Mortgage Bankers Association said.

The nation's biggest real estate franchisor also shed almost $300 million from its over $2.5 billion in company debt.

Saba Capital Management's Boaz Weinstein and his group of billionaire backers again raised their bid for Sculptor Capital Management Inc. 

The market for new homes has broadly held firm in the face of decades-high mortgage rates and elevated housing prices.

Until now, National MI and Essent did not have direct ties with the legacy platform, although they are already on the newer enterprise loan origination system.

The recent jump is the biggest increase since the run up in the early 1980s, when Paul Volcker's efforts to slay inflation pushed the 10-year yield to nearly 16%.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

Mortgage borrowers alleged in U.S. District Court that the servicer applied funds in the wrong order and charged unnecessary interest.

After years of discussion among regulators, the Federal Reserve Board has approved changes to its CRA rules that will base compliance exams on where lending occurs rather than branch locations. The updates — set to take effect in January 2026 — also emphasize lending in lower-income areas as well as community development loans and investments.

The complaint pins the incident on a former area sales manager and a loan officer who continues to work in the same Ohio market.

The top five servicers that are depositories have a combined unpaid principal balance of more than $1.89 trillion at the end of Q2 2023.

The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.

Loans more than 90 days past due increased for the first time this year in September, according to ICE Mortgage Technology.

The single-family rental giant struck a deal to manage homes for another major landlord at a time when scarce inventory of properties for sale is making it hard to expand.

Banks already share consumers' transaction data with fintechs, mostly through data aggregators, and often grudgingly through screen scraping. The proposed 1033 regulation could give more control to consumers, better data access to fintechs and a competitive edge to big banks over smaller ones, some observers say.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.