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The Pittsburgh-based regional bank expects to save $325 million next year as it reduces its staff by 4%. Executives said the cuts are necessary because revenue has fallen amid a surge in interest rates and a decline in loan volumes.

But even as housing costs slowed on a quarterly basis, they still came in 5.3% higher than a year ago, according to Fannie Mae's Home Price Index.

US 30-year yields dropped seven basis points to 4.79%, unwinding part of Thursday's surge that was driven by a somewhat disappointing inflation reading and a weak bond auction.

Amplify Credit Union in Austin provided funding for the construction of 28 tiny homes to create more affordable housing in Round Rock, Texas. Several banks had previously shot down the project.

Almost 9% of transactions also involved closing agents with inadequate insurance levels, the highest share on record, according to FundingShield.

Designated mortgage professionals who can work in community outreach as well as regular monitoring of program outcomes are also important components that will help programs meet goals, industry leaders say.

The consulting giant's annual global banking review highlights a stark trend: Over a seven-year period, more than 70% of the net increase in financial assets ended up not on U.S. banks' balance sheets, but instead at insurance and pension funds, sovereign wealth funds, in private capital markets and elsewhere.

The San Antonio-based lender is introducing new products targeted at borrowers who make less than 80% of their county's median income. The loans, which will qualify for Community Reinvestment Act credit, could help expand access to the state's increasingly expensive housing market.

The Department of Housing and Urban Development affiliate is making it easier to repackage securities backed exclusively by these mortgages.

The Consumer Financial Protection Bureau and the Justice Department warned banks and other lenders that credit applicants cannot be rejected due to their immigration status.

The real estate data and software provider integrated its offerings, including borrower income analysis and property data, with acquired Roostify's point-of-sales system.

The average interest rate for the 30-year loan rose for the fifth consecutive week, according to Freddie Mac, but Treasury yields did move lower.

Ishbia, chief executive officer of mortgage giant UWM Holdings Corp., in February completed the $2.28 billion purchase of a 57% controlling stake in the National Basketball Association's Suns and the WNBA's Mercury, a deal that valued the teams at $4 billion.

But the deal - even if it does not close - will have little effect on the outlook for the REIT, analysts for Keefe, Bruyette & Wood said.

Removing the requirement for the seller to pay the buyer's broker will make financing more difficult to get for certain groups.

Numbers the Federal Housing Finance Agency just reported for 2022 were the third lowest since the program began, and this year's probably won't be high either.

Proceeds from the sale of assets to Oaktree Funding would be used to pay off debt to warehouse lenders

The Federal Reserve is expected to pause at its September meeting. Jeff Timlin, a managing partner at Sage Advisory, will join us on Sept. 21 to provide analysis of the meeting.

As housing-industry groups sought relief from the Federal Reserve, overall loan-application volumes eked out a weekly gain last week thanks to ARM activity, the Mortgage Bankers Association said.

The Federal Reserve Governor's remarks sounded somewhat less hawkish than her comments on Oct. 2, when she said multiple rate hikes would likely be needed to contain price pressures.