Applications were essentially unchanged on a weekly basis last week even as interest rates ticked up.

Four partnerships with undisclosed companies generated less than $50,000 in cumulative revenue.

Land contracts lack protections that apply to mortgages and often carry worse terms for homebuyers than mortgages, the Pew Charitable Trusts noted.

In the second quarter, all but four of the 50 largest jumbo lenders posted increases in originations.

A decline in median loan amounts offset a modest increase in mortgage rates, which helped lower median mortgage payments in July, according to the Mortgage Bankers Association.

MBA CEO Bob Broeksmit came to the defense of the FHA program and nonbank participants after the Wall Street Journal’s editorial board suggested nonbanks had engaged in risky underwriting under the government guarantee.

Federal Housing Finance Agency Director Bill Pulte directed Fannie Mae and Freddie Mac to end support for special purpose credit programs earlier this year. But now other agencies are also ending authorization for the programs.

Market uncertainty and rising costs have led some economists to revise their origination forecast for the rest of this year and into 2027.

A group of 13 publicly traded nonbanks reported a combined $2.20 billion in mortgage-banking income for the second quarter, down 32.3% from the first quarter.

“Affordability deteriorated as mortgage rates moved higher through May and June,” said Varun Krishna, CEO of Rocket Companies.