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.)

The purchase-mortgage share of loans sold to Fannie, Freddie and Ginnie gained slightly in August, and there was some rebound in correspondent activity.

The CFPB’s proposal to replace the 43% DTI ratio limit for determining QMs with a price-based approach has received support from industry participants.

Fewer borrowers are staying with their previous lender/servicers post mortgage refinancing. Quicken Loans stands out with an exceptionally high retention rate.

One of the key functions of the GSEs is to pool risk nationally for the benefit of underserved borrowers, and any capital framework for the enterprises has to build in this cross-subsidy, according to housing advocates.

The final version of the bill exempts mortgage licensees from the expanded oversight and enforcement authority the state agency will have.

After hearing the industry’s clamor, the FHFA delayed the 50-basis-point fee while also exempting low-balance loans.

When it comes to warehouse lending, conditions have never been better. Credit the pandemic and the Federal Reserve. (Includes data chart.)