Consumer Financial Protection Bureau Director Rohit Chopra recently advocated for a Community Reinvestment Act-like regime for nonbanks at the state level. Trade groups reiterated their opposition to such a move.

Home insurance industry groups highlighted the factors behind the dramatic rise in home insurance premiums during a Capitol Hill hearing.

Former Sprout Mortgage CEO Michael Strauss is avoiding the residential market following regulatory scrutiny in Illinois.

Mr. Cooper said customers would not incur fees, penalties or negative credit reporting due to late payments related to the shutdown.

When nonbanks hurt, their warehouse lenders hurt too, though in different ways. A sharp reduction in mortgage originations — with no interest rate relief in sight — is causing a handful of bankers to quit the space.

Lower benefits for credit losses and an adverse decision in court undercut slight increases in revenues for Fannie Mae and Freddie Mac.

A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.

The Federal Emergency Management Agency said debt for the flood insurance program is currently costing $309 million in semiannual interest payments, which could be utilized on disaster operations.

Mr. Cooper is working on an MSR fund with institutional investors, with plans for the nonbank to handle subservicing, while Rithm Capital is still planning a spinoff of its mortgage unit despite the tough market.

People’s Bank of Commerce and First National Bank of Long Island have shuttered mortgage lending businesses due to rising rates and stiffer competition from nonbanks.