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But refinance volume was constrained in recent weeks and many of the new offerings are aimed at low income borrowers, the Mortgage Bankers Association said.

Effects of major economic announcements this summer have had little impact on the lending market, with averages remaining under 3% since July.

Orchard, which offers cash to homebuyers upfront so they can purchase a new residence before selling their old one, raised $100 million to fuel growth in an ultra-competitive housing market that’s pushing shoppers to find new ways to stand out.

But a greater number still expect decreased margins for the fourth straight quarter, due to competitive pressures and shifting demands in purchases and refinances

Both government-sponsored enterprises approve more borrowers across the board than the broader market but the relative progress each has made differs across racial groups, numbers released Wednesday show.

But distressed loans released from backlogs by discontinued foreclosure bans could drive numbers higher eventually, depending on the strength of the housing market

The Office of the Comptroller of the Currency made good on a promise to rescind Community Reinvestment Act reforms finalized by ex-Comptroller Joseph Otting as part of talks with other regulators on an interagency overhaul of the law.

The loan origination system provider, which launched an IPO on July 28, reported that its second quarter revenue and income grew 38% year-over-year.

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.

Refinance and purchase applications both declined, while average loan sizes shrunk for the fifth consecutive week.

The government-sponsored enterprises and their regulator are building on broader efforts by the Biden administration to close racial gaps in homeownership rates.

Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.

The government bond insurer allowed lenders to become “eIssuers” a little over a year ago, and the move contributed to a large surge in electronic notes this year.

A rising — but still small — share of borrowers believe interest rates and housing price appreciation will fall in the next year, according to Fannie Mae.

The jump is the largest 12-month gain in the index since the series began 45 years ago.

Some progressive lawmakers argue the Federal Reserve’s deregulatory moves under Jerome Powell should disqualify him for a second term as chair. But the Biden administration could let him keep his job because of monetary policies that helped low-income workers.

The changes could help one of the Biden administration’s affordable housing goals, which is aimed at making wealth-building through owner-occupied, 2- to 4-unit properties more attainable.

Residential construction was up 27% year over year in July, according to the U.S. Census Bureau.

Improved capitalization and smaller balance sheets should help several weather the likely consolidation that is coming, Moody's said.