With production expenses rising to more than $13,000 per loan, and four straight quarters of negative net income, mortgage lenders struggle to find ways to stay in business.

Texas-based Colonial Savings, which has been offering home loans since its founding in 1952, will stop originating mortgages at the end of July.

The trade group wants the CFPB to establish uniform disclosure requirements for transactions involving dual compensation.

The Appraisal Subcommittee’s second open meeting focused on how appraisal methods might introduce biases to the valuation process.

The Senate must now vote on the bill which would lift the federal debt limit until January 2025.

The MBA president castigated the government for its response to the banking crisis, particularly regulator efforts to expand their authority over nonbank sellers and servicers.

FHA Commissioner Julia Gordon said FHA plans to “very soon” add a proposal to its drafting table on options that mortgage servicers can use to help borrowers reduce their monthly payments to keep them in their homes.

At a congressional hearing this week, the FHFA director faced four hours of questioning, including queries on the recently rescinded proposed fee based on a borrower’s DTI ratio.

Banks are less aggressive these days when it comes to buying MSRs. But not all. JPMorgan recently acquired a $21 billion package of servicing rights from Rocket, the nation’s fifth-largest processor of loans.

The company estimated more than 90 million households will meet the income eligibility requirements for the program.