Under the Fed’s framework, which in many ways differs from the OCC’s final rule, a bank’s mortgage lending performance will be evaluated in two ways: a retail test and community development measurement.

Wells Fargo, which exited the correspondent channel for jumbo mortgages in April, is still not sure if or when it will resume originating the product through the platform.

The origination boom has afforded mortgage bankers record volumes and profits but it has also created an unforeseen headache: underwriters asking for salaries of $150,00 or more. Plus signing bonuses.

Several top lenders reported declines in purchase-mortgage lending and increased refi activity in the second quarter. Agency MBS data suggest a modest recovery in July and August. (Includes four data charts.)

Even though market conditions are absolutely terrific, warehouse lenders are asking for regulatory relief on their credits. The Federal Reserve is listening, but will it swallow?

But regulators are concerned about their ability to identify violations and a reduction in an important source of state revenue — branch licensing fees.

Originations of expanded-credit mortgages are up in 2020 despite a pullback by nonbanks that dominated the top-10 lender ranking in 2019. The increase this year was led by banks.

So far, the CFPB has fined seven VA lenders a total of $2.02 million for false and misleading advertisements. It demonstrates the bureau’s interest in protecting servicemembers and veterans, according to attorneys.

The supply of home-equity debt outstanding declined at an accelerated rate and new HEL lending fell sharply. Credit unions held their own. (Includes three data charts.)