New construction will play a larger role in the purchase market over the next few years, according to Michael Fratantoni, chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association.

Chase remained the top servicer in the group, handling $326.90 billion of jumbos as of the end of June.

Demand declined for both purchase mortgages and refinances last week.

Specified pools offer MBS investors a concentration in certain characteristics in contrast to homogenous MBS in the TBA market.

Securitization of FHA loans increased 6.3% to $22.09 billion in July, while VA production was up 11.4% to $15.44 billion.

Sage is building out its mortgage investment business and to this point has focused on acquisitions of mortgage servicing rights.

"It is likely to cause significant adverse consequences to banks and consumers, including causing the tightening of credit standards," the ABA said of the CFPB's proposal.

Home prices increased by 0.2% on a monthly basis in July, according to Redfin.

Lenders pinned the underwhelming growth on elevated interest rates and a limited inventory of homes for sale.

HELOCs can fall under the definition of a "credit card plan"  included in the Truth in Lending Act's offset provision, according to the appeals court.