The Mortgage Bankers Association, in a comment letter, panned a Financial Stability Oversight Council proposal to revise guidelines for designating certain nonbanks as systemically important financial institutions.

Ted Tozer, Urban Institute non-resident fellow, argues that policymakers should update the FHA Modernization Act so lenders are no longer banned from providing downpayment assistance to FHA borrowers.

The MBA reports that new home purchases up 26.1%; Six First Republic private client banking teams join Flagstar; Redfin finds home prices are up 2.1% year-over-year; First Horizon announces new client-focused podcast.

Ginnie issuance increased by 33.7% on a quarterly basis in the second quarter.

Banks will look to pass the expense of higher capital requirements for mortgages onto borrowers, M&T Bank's CFO noted.

McGlinchey Stafford attorney Jim Sandy said in an interview with Inside the CFPB that potential defenses against enforcement actions and private litigation have begun to emerge.

The growth is partly due to improved dynamics between life insurers and mortgage partners.

MISMO provided some standards for nearly 200 fees that a borrower could see on a Loan Estimate form.

Second quarter mortgage banking revenue at USB came in at $161 million compared to $128 million in 1Q23.

Banks have enough capital, according to Brian Moynihan, chair and CEO of Bank of America.