Some banks are partnering with Rocket Mortgage on originations. Rocket said banks are having a hard time competing with the nonbank.

Trade groups are generally bullish on the new proposed CRA rules but have asked for changes in areas where they saw added regulatory burden.

Cenlar, the nation’s largest subservicer, has a new leadership team. The move comes roughly 10 months after federal sanctions were filed against the firm.

Lenders want FHA to increase the limit on fees they can charge for processing an assumable mortgage, a product expected to gain popularity in the coming months.

Fannie Mae will allow downpayment assistance supported by lender-funded grants.

Falling origination volumes and a return to loan-loss provisions point to lower net income for Fannie Mae and Freddie Mac through the end of the year.

With limited demand for refinancing, lenders are peddling other products. While nonbanks are offering home-equity loans, some lenders are selling mortgages with a reduced-fee refi option down the road.

Lenders have already priced in a recession, economists said, forecasting mortgage rates to keep moving sideways, despite the recent interest rate hike by the Federal Reserve.

The REIT’s investments in MSRs increased by 20.2% in the second quarter, based on unpaid principal balance, to $109.0 billion as of the end of June. Annaly sees the assets as a nice hedge to its traditional investments in agency MBS.

With prospects for the Build Back Better Act doomed, Senate leadership has proposed a new version of the budget reconciliation legislation under the moniker the Inflation Reduction Act.