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The country's largest banks should deepen partnerships with minority depository institutions and community development financial institutions, and regulators should facilitate that process.

Bond traders are girding for the risk that Federal Reserve Chair Jerome Powell is ready, willing and able to plunge the U.S. into recession to get the inflation bogey under control.

The Fed chair said actively selling securities will become necessary as it looks to reduce its balance sheet, but not anytime soon.

The only way to address inflation is for Congress to fix issues around home supply and demand, the National Housing Coalition said in reaction to the Federal Reserve's move Wednesday.

And the rate of distress in second-lien home loans ticked up from the previous month, according to Standard & Poor's Dow Jones and Experian.

On the other hand, the economists from the UCLA Anderson Forecast claim the U.S. is not currently in a recession and that the chance of a recession in the next 12 months is less than 50%.

The average purchase loan amount rose as a brief increase in demand for government-sponsored loan programs cooled.

The former head of the agency said a decision last year to suspend caps on investor loans has further induced demand in an already hot market. Other experts say a supply-demand imbalance is the true driving force.

Sales of previously owned U.S. homes fell for the seventh straight month in August as rising mortgage rates continued to erode affordability and deal a considerable blow to the housing market. 

Some stakeholders in the mortgage industry are concerned about the late 2023 deadline, but the government bond insurer said most are already prepared, and it'll work with those who aren't.

However, a lower share of applications were rejected for Blacks, Hispanics and Asians, while whites had the smallest percentage change, a Consumer Financial Protection Bureau report said.

The filing is the first joint action by the Federal Trade Commission and California Department of Financial Protection and Innovation to rely, in part, on the enforcement of the state's 2020 consumer protection law.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year. 

The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.

While several single-family indicators rose compared with July, homebuilder authorizations for new construction continued to lag.

Because the co-buyers own 100% of the property jointly, Pairadime is different than equity sharing firms like EquiFi, Hometap and Unison, which take a stake in the property in exchange for funds.

Plaintiffs in two similar class action complaints accuse the companies of failing to protect their Social Security numbers and loan information.

Payment suspensions on loans securitized through the government-backed market stopped falling in May, plateaued over the summer, and reversed course last month, according to an industry trade association.

A new group called MoreThanFair aims to establish the lines between fair and unfair lending, to set best practices for the use of AI in lending and to lessen the stigma of fintech lenders.

SPS will have roughly 1.4 million mortgages in its portfolio after the transaction closes, something the two companies estimate will occur in the fourth quarter of this year.