Consumers who take part in homebuyer education and counseling classes are more satisfied with the mortgage process, according to a joint report by the Consumer Financial Protection Bureau and Federal Housing Finance Agency. The classes also help spur homebuyers to better examine mortgage loan offers.

Housing and Urban Development Secretary Ben Carson told Congress it would cost approximately $500 million upfront to convert FHA’s archaic information technology systems to a modern technology platform.

GSE buyback volume fell 11.6 percent from the 2016 total, including an 11.4 percent drop from the third to the fourth quarter of last year.

“On previous occasions when the bureau has issued guidance, its value has been negated by disclaimers making the guidance non-binding on the bureau,” the Mortgage Bankers Association said.

The decline in mortgage applications was driven by applications for refinances, as requests for purchase mortgages increased slightly.

"If mortgage rates doubled overnight, our model indicates a decline of just 300,000 sales, a mere 5 percent decrease,” said Mark Fleming, chief economist at First American.

The IRS recently formed a working group comprised of industry participants to address problems with the Income Verification Express Service, according to the Mortgage Bankers Association.

An increasing number of areas moved from “sustainable” home price appreciation to “overheated” in 2017, according to Fitch.

“Borrowers continue to move away from applying for loans fully in-person, as they look for a process combining both high-tech and high-touch,” according to Ellie Mae.

The 4,710 small mortgage lenders wouldn’t have to report new data points sought by the Consumer Financial Protection Bureau for originations in 2018 and beyond, according to an analysis by Inside the CFPB.