Any regulatory action resulting from the CFPB’s recent request for information must be grounded in the bureau’s statutory authority, the Mortgage Bankers Association said.

The CFPB said it is stepping in to stop harmful practices used in contract for deed financing that set up homebuyers to fail.

Skyward Specialty Insurance Group launched a mortgage reinsurance business.

Radian Guaranty ranked first among private MIs in new insurance written, posting a 20.5% increase to $13.89 billion in the second quarter.

The nonbank’s origination unit took a $3.1 million loss in the second quarter after a $24.2 million loss the previous quarter.

The average interest rate for a mortgage stood at 6.73% just before the release of the jobs report last week.

Blend Labs took a $19.4 million loss in the second quarter.

The parent of Better Mortgage took a $42.2 million loss in the second quarter compared with a $51.5 million loss the previous quarter.

“We have identified a number of predatory practices, including high-pressure door-to-door sales where families are baited into expensive loans that wipe away the savings from a solar installation,” said CFPB Director Rohit Chopra.

Ready Capital sold the MSRs as part of an effort to exit investments in the residential market to put a greater emphasis on commercial loans.