Marcia Fudge is now a partner and chair of public policy at Taft, a law firm.

The 7-2 decision upholds the bureau’s ability to receive funding directly from the Federal Reserve and overturns a decision by the Fifth Circuit Court of Appeals.

“The current approach is clearly failing,” said Bob Broeksmit, president and CEO of the Mortgage Bankers Association.

About a dozen firms currently originate HEIs in more than 30 states, according to Morningstar DBRS.

Federal banking regulators are still grappling with whether to re-propose a rule on capital requirements for large banks or to move on to a final rule.

The sale effectively takes Flagstar out of the warehouse lending arena.

“In short, the agencies tried to do too much,” the American Bankers Association said.

The top higher-priced mortgage lender in 2023 was 21st Mortgage, with $2.55 billion in volume.

The decline in demand for purchase mortgages was most prominent for FHA mortgages, where applications declined by 9% on a weekly basis.

Better's gain-on-sale margin improved to 237 basis points in 1Q24 from 203 bps for all of 2023...