However, the jobs picture for December was better than what was expected, the Bureau of Labor Statistics data found.

Minneapolis Federal Reserve Bank President Neel Kashkari compared the recent inflation to rideshare surge pricing, and called for a new approach to gauging and modeling price pressures.

Student borrowers in the U.S. are struggling to keep up with other kinds of debt even while college payments are frozen, and a surge in delinquencies is likely if the government's debt-relief plan fails, according to a new study.

The sleepy Federal Home Loan Bank System is under intense scrutiny as critics push for more oversight and increased affordable housing while supporters say the system works well for member banks.

Special purpose credit programs, down payment assistance and potential mortgage insurance premium cuts came into focus over the past year.

Many have called for a heavy analysis if not an outright denial of the transaction by the government, but this could finally move the needle, said former Obama Administration official and former head of the MBA David Stevens.

The Federal Housing Administration cited concerns that included the seasonal "tripledemic" and staff shortages at servicers.

Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.

The bill will require the agency to codify the use of desktop appraisals.

The requirement for FHA borrowers in default was put on hold for the pandemic and extended multiple times, and the industry's waiting to see what happens to it next.

Many experts think the Consumer Financial Protection Bureau's funding through the Federal Reserve could be the fatal flaw in the Dodd-Frank Act that created the agency, but differentiating the CFPB's structure from others may be tricky.

The restrictions may be of interest to mortgage lenders who look to right-size by having more people multitask.

The Federal Reserve raised its benchmark interest rate by half a percent this week, but chair Jerome Powell said the question now is how long to keep monetary policy tight.

Raising the threshold for qualification for Home Ready and Home Possible, which additionally offer price breaks to lenders, could do more to make homeownership more equitable, the Mortgage Bankers Association wrote in a letter to the Federal Housing Finance Agency.

The tool, which includes overlays for industry metrics like delinquencies, could be helpful to policymakers trying to size up the cost of natural disasters affecting properties.

Forbearance could be used regularly to address a broader range of hardships, but how expansive that range should be is subject to debate.

By the end of the second quarter of 2022, over 45% of Black and Hispanic white applicants were rejected because of elevated DTI largely caused by rising rates, the Consumer Financial Protection Bureau said.

Federal Reserve Chair Jerome Powell said that interest rates could climb less quickly as early as December, but warned that cutting rates "is not something we want to do soon."

The year-end expiration date on two temporary measures designed to help older borrowers were pushed to December 2023.

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.