The average interest rate on a 30-year fixed-rate mortgage increased by four basis points from last week to 6.30%.

Servicers can comply with the new policies as of Oct. 1, but the mandatory compliance date was extended to Dec. 30.

Hugh Frater, a former CEO of Fannie Mae, warned that merging the GSEs could reduce incentives for innovation and competition on pricing, among other issues.

Redfin cited four factors suppressing demand for home purchases: high home prices, elevated interest rates, limited inventory of homes for sale and economic uncertainty.

"Maybe certain things would be better with a quick email ... or a text," said Sasha Hewlett, an associate vice president of secondary and capital markets at the MBA.

A pending proposal from the CFPB aims to clarify obligations imposed by the Equal Credit Opportunity Act.

Refi business could spike by upwards of 70% next year thanks to expectations for lower interest rates, according to economists at Fannie Mae.

Details from Fitch Ratings on earnings at CrossCountry were tied to ratings for a planned $600 million debt offering from the privately-held lender.

The bureau found that WaFd sufficiently complied with the terms of consent orders dating to 2013 and 2020.

“You’ve got an ever-increasing number of investors and insurance companies, securitizers and aggregators, all competing for what feels like a smaller set of loans,” said Clint Thomas, vice president of correspondent lending at Silver Hill Capital.