The proposal, published by Andrew Davidson, seeks to create a platform where regulators, investors, mortgage servicers and more would share their own data and receive access to the broader pool of data, in an effort that could decrease costs and improve attempts to aggregate mortgage data.

“Mortgage rates dipped below 7.0% in June but that did little to spur purchase activity,” said Joel Kan, a vice president and deputy chief economist at the MBA.

Originations increased by 32.5% in the second quarter.

“This is ultimately giving each and every market participant a chance to see what the new score will look like, to see what the GSEs are proposing in terms of calculating a representative score,” said Anthony Hutchinson, a senior vice president of industry and government relations at VantageScore.

The increase in mortgage applications was driven by refis.

The share of loans with a credit score of 740 of above increased from 69.65% for deliveries to the GSEs in the first quarter of 2024 to 70.80% in the second quarter.

Both BofA and PNC increased production compared with the first quarter of 2024, though volume was down compared with the second quarter of 2023.

HUD charged Rocket Mortgage and other entities with appraisal bias.

Two entities at JPMorgan Chase started marketing separate prime non-agency mortgage-backed securities Monday.

New construction and non-qualified mortgage products are performing well despite limited inventory impacting purchase originations.