Some industry stakeholders are portraying the proposed capital requirements on mortgage assets as an existential threat, one that might indirectly hurt independent nonbanks. But perhaps those fears are overblown.

Banks are in cost-cutting mode as high interest rates and looming changes to capital requirements have led to uncertainty in the mortgage market.

The Federal Trade Commission, Black Knight and Intercontinental Exchange have filed a joint stipulation for dismissal of FTC’s antitrust lawsuit.

The odds appear long but CEO/founder Vishal Garg told employees the magic moment will happen by the end of the month.

The rate of appraisals in high minority census tracts that were below the final contract price has fallen post the creation of the PAVE task force.

The first initiatives under the tie-up will center around industry training and consumer outreach.

In the purchase loans securitized by the agencies in the second quarter, the biggest gain was in GSE loans with no primary MI coverage. (Includes three data charts.)

Consumer complaints filed with the CFPB regarding credit reporting were sharply up in the six months ending June from a year ago. Criticisms about mortgages and student loans saw declines. (Includes two data charts.)

An analyst at J.D. Power said servicers must proactively communicate with borrowers and offer digital channels through which consumers can easily find solutions to their problems.

The CFPB said several nonbanks that have come under its oversight following a procedural rule issued in November 2022 are cooperating with the agency to iron out compliance problems before it’s too late.