The reduction in costs helped lenders that maximize LPA maintain profitability while the industry as a whole experienced a negative 5.8% margin, according to findings from Freddie Mac.

Higher for longer persists.

DTI ratio was a factor in 38.45% of denials of applications for purchase mortgages in 2023.

An analysis by Inside Mortgage Finance found that only 1.5% of purchase mortgages in agency mortgage-backed securities issued in 2023 carried a combined loan-to-value ratio greater than 97%.

The pilot is limited to certain states and will only be offered through approved pilot lenders.

The CFPB reiterated that Regulation Z prohibits mortgages for principal dwellings from including “terms requiring arbitration or any other nonjudicial procedure as the method for resolving any controversy or settling claims arising out of the transaction.”

"Companies that are putting bad information on those reports, there needs to be some accountability for them and the ones who are assembling these reports," said CFPB director Rohit Chopra.

Housing affordability ranked as more important for voters in the 2024 presidential election than abortion rights or student debt, according to a survey commissioned by Redfin.

The California-based nonbank ranks 17th among home funders and 18th among owners of mortgage servicing rights.

Wells Fargo's loan repurchase/indemnification volume totaled $118.0 million in 1Q24 and was the largest in the nation among depositories...