More than 90% of homeowners with mortgages have loans with interest rates well below prevailing rates. That provides a strong incentive to stay put.

The top five lenders in the first quarter — four nonbanks and a large regional bank — reported a combined 7.7% decline in mortgage production from the previous period. That was roughly half the rate of decline in the overall market. (Includes two data charts.)

The Supreme Court agreed to take a case this week involving liability under the Fair Credit Reporting Act for a mortgage from the U.S. Department of Agriculture’s Rural Housing Service.

For the third consecutive month, mortgage credit availability declined, with some products reaching their lowest levels in a decade. It’s only expected to get worse as lenders worry about the economy.

UnidosUS said a new initiative will use policy advocacy and ground-level services such as housing counseling to close the Latino homeownership gap.

CFPB Director Rohit Chopra said the mortgage market would see severe disruption if the Supreme Court finds the bureau’s funding structure unconstitutional.

The increase in usage of home equity lines of credit suggests that consumers are facing some financial difficulties, the NCUA has warned.

Concerns are growing that a credit crunch of sorts might be on the way for nonbanks as federally insured warehouse lenders begin to pull back. At least one veteran player, Comerica, has exited the space.

What’s a mortgage CEO worth these days? If it’s a public company, that’s a decision for shareholders and the board. Most senior managers had their pay reduced last year, but not all. (Includes data chart.)

Despite their support for a standardized approach for evaluating the validity of an ROV, trade groups disagree that lenders should face fair-lending liability for the valuations made by independent appraisers.