The average credit scores for new originations of FHA mortgages declined somewhat after BofA and JPMorgan Chase ceased correspondent aggregation in the market.

NAR says a FEMA proposal to mandate a flood disclosure form is unnecessary and would overly burden states. 

One key element of the review addresses the FHLBanks’ role in the string of regional bank failures last spring.

UWM transferred $14.7 billion of servicing rights in the third quarter.

The nonbank is working on another round of cost-cutting measures.

FHFA left it up to Congress to decide whether nonbanks should be provided access to Federal Home Loan Bank advances.

The National Flood Insurance Program has $20.5 billion in debt, prompting $309 million in semiannual interest payments.

Demand for mortgages from banks declined in the third quarter and many banks further tightened underwriting.

The correspondent lender initially will offer 15- and 30-year jumbo loans, non-qualified mortgages and agency products.

Almost 30,000 mortgage-banking jobs have evaporated over the past 12 months...