Rocket and a number of other nonbanks have added home equity loans to their product offerings in recent years after refinance activity slowed.

The GSE’s investment portfolio stood at $137.22 billion, down 3.2% from April.

The Structured Finance Association submitted extensive feedback on the re-proposal. SFA's comments received an endorsement from a coalition of trade groups representing a broad variety of banks.

Most of the increase in the impairment rate in May was from delinquencies.

Sen. Elizabeth Warren, D-MA, one of the lead negotiators of the bill, guaranteed that it will eventually become law.

The ARM share of first-lien originations also declined somewhat, as interest rate trends in the first two months of the first quarter made fixed-rate mortgages somewhat more attractive than ARMs.

The number of new listings last week hit the lowest level since February.

Sales of new homes declined on monthly and annual bases in May.

Matt Jones, FHA single-family housing deputy assistant secretary, indicated the agency believed the rescissions would make the FHA program more accessible to a wide range of lenders.

The proposal would redefine "high-needs rural population" and limit the use of area median income when defining low-income categories.