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The top five lenders have an average total origination volume of more than $9 billion through June 30, 2023.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

The types of attacks ranged from malware, phishing and a zero-day hack of a vendor software which has rattled numerous bank and non-bank lenders.

The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.

American Bank of Oklahoma agreed to a consent order in August to settle allegations from the Department of Justice over redlining. However, the institution strenuously objected to references to the Tulsa Race Massacre in the agreement and asked that the language be stricken.

How far have these programs come in reaching their goals and how much further do they need to go?

The partner unit of the German software firm will offer its cloud-based lending platform to a range of financial businesses, partnering with Blue Sage and Ranieri Solutions for origination and servicing capabilities.

Adjustable-rate mortgages nabbed their largest share of activity in almost a year, as the 30-year conforming average inched closer to 8%, the Mortgage Bankers Association said.

While on the positive side, Fannie Mae CEO Priscilla Almodovar said the loan defect rate has dropped 75%, she and Freddie Mac President Michael Hutchins noted that they're closely examining disruptive servicing transfers and standards for multifamily properties.

Och, who left New York-based Sculptor in 2019, said Tuesday in a statement that he wants a Delaware judge to halt the buyout until a rival group led by Saba Capital Management's Boaz Weinstein is able to present its higher bid to shareholders.

At a Senate Banking subcommittee meeting, Republican and Democratic lawmakers both promoted the mission of community development financial institutions and warned of upcoming threats to their funding and proposals to revamp the CDFI certification process.

Residential starts increased 7% last month after falling by the most in over a year in August, according to government data released Wednesday.

The top five depositories have a combined wholesale volume of more than $18 billion at the end of Q2 2023.

Providing support to affordable rental developments is a key component in the Biden administration's efforts to increase housing supply.

But the industry will still have to go through some pain in 2024, Wharton Professor Susan Wachter told attendees at the Mortgage Bankers Association annual convention.

The servicer said it entered into the consent order "without admitting any wrongdoing, to avoid the expense and distraction of litigation."

Homebuilder sentiment fell to a nine-month low in October, the latest indication of the toll on residential real estate from soaring mortgage rates and declining affordability.

The top five banks have a combined mortgage servicing volume of more than $27 billion at the end of Q2 2023.