Applications for purchase mortgages fell to a level last seen in early June.

The mortgage giant saw a $132 million first-quarter provision for losses shift to a $1.22 billion benefit in the second.

The House is seeking lower funding levels for HUD and a September deadline is fast approaching.

ABA and Texas ABA members win a delay on compliance with the CFPB's data collection requirements on small business lending.

Varun Krishna will also be CEO of Rocket Mortgage.

The OCC entered into a consent order with Cenlar in 2021.

An estimated $400 billion of mortgages were originated in the second quarter.

The proposal could reduce banks’ participation as single-family and commercial/multifamily lenders, servicers, and providers of warehouse lines and mortgage servicing rights financing, according to the MBA.

PennyMac was the largest mortgage lender in the first quarter of 2023, though the nonbank posted a loss from its production segment at the time.

Prices for non-QMs sold as whole loans are down a bit while spreads on MBS are declining, indicating increasing demand.