Locks declined in June but, when controlling for the difference in business days compared with May, the decline vanishes; Fitch downgraded its long-term issuer default rating on Finance of America Companies to C; talent management topped cost cutting in Fannie’s latest survey of mortgage execs’ priorities; MISMO forms group focused on AI.

Some MSR buyers would rather focus on acquiring volume and leave the servicing duties to someone else. Subservicers are happy to provide the service, touting cost savings and innovations.

The rise in gig work and side hustles has led to new automation tools for non-QM underwriting for self-employed borrowers.

The bank recently committed $3 million to an appraisal diversity initiative and is engaged in various internal efforts to reform the appraisal industry.

One way lenders can make homes more affordable is to combine the GSEs’ low-downpayment programs with other tools that reduce downpayment and closing costs.

Defects related to liabilities on student loans, income/employment verification and the appraisal process topped the list of items Fannie warns lenders to keep alert for.

The MBA and California MBA are warning of a “crisis” in California involving property insurance as insurance options decline and premiums increase. A Senate committee also examined property insurance issues, with reactions differing based on party lines.

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Older Americans could hold on to their single-family homes longer than earlier expected, according to panelists at this week’s Bipartisan Policy Center conference.

FHFA’s home price index cools off; MBA’s outlook for interest rates unchanged; Treasury looking into AI use in financial services; trade groups request delay on implementation of overtime rule.