The higher rates are diminishing demand for mortgages and officials at Rocket are projecting a drop in originations in the third quarter.

Mortgage and banking trade groups want the CFPB to revise TRID’s timing requirements and tolerance thresholds.

Changes to the GSEs’ condo lending requirements won’t bring relief in the near term to the slumping condo market.

More homebuyers are being forced to bring more cash, renegotiate the sale price or restructure their mortgage.

The Trump administration continues to pressure homebuilders to address affordability by focusing more on first-time homebuyers.

Democratic state attorneys general argued that the final rules exceed limits Congress placed on OCC’s ability to preempt state laws.

Radian Group has sold its real estate services business and has entered into a definitive agreement to sell its title business to PLACE.

Rocket was one of the largest sellers of agency mortgage servicing rights during the second quarter and the only nonbank to post a decline in owned servicing among the top-10 firms. Chase’s decline in owned servicing looks to be tied to portfolio runoff. (Includes three data tables.)

Urban Institute researchers believe credit score gaming by lenders will raise scores for 44% of borrowers. Officials at FICO claim shopping appears to be occurring now that the GSEs accept VantageScore.

The $1.65 billion in financing from Oaktree and the Ishbia family was via preferred equity. United Wholesale Mortgage’s equity declined with a loss in the second quarter tied to its failed acquisition of Two Harbors.