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.

Demand declined for both purchase mortgages and refinances last week.

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.

The top three five jumbo originators in 2Q24: Chase, Bank of America, U.S. Bank, UWM and Wells Fargo...

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.

Housing starts in the south were impacted by Hurricane Beryl though activity also declined modestly in some other regions in July.

Correspondent and broker loans were more heavily weighted toward purchase mortgages in the second quarter compared with the retail channel.