FHFA’s home price index cools off; MBA’s outlook for interest rates unchanged; Treasury looking into AI use in financial services; trade groups request delay on implementation of overtime rule.

The mortgage giant itemizes the sources of the increased cost of loan origination, then pitches the technological tools embedded in its underwriting system as a potential remedy.

New downpayment assistance programs and tracking of rental payment history for underwriting purposes are among the suggestions put forward by two Urban Institute researchers.

Some 13.8% of the total number of applications for conventional-conforming mortgages submitted last year were denied, compared to 14.3% in 2022. Denials for refinances jumped. (Includes data table.)

HUD issues guidance on mortgage advertising; UWM expands title services for brokers; Freedom issues debt; Incenter offers review services for taxes and insurance; most housing inventory in Florida, Texas.

PennyMac booked a weak increase in servicing income due to a large loss tied to hedges for MSRs; First American’s CEO doesn’t expect the CFPB’s effort on lender’s title insurance to change much.

A deep dive into closing costs by the JPMorgan Chase Institute found that borrowers pay more in closing cost fees when leaning on brokers and nonbank lenders for mortgage financing.

Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.

Better saw improvements in its pull-through rates in a pilot program in which the lender paid its LOs commissions. The lender found that its no-commission model didn’t work well for purchase mortgages.

A new research paper finds that mergers between real estate agencies and lenders can help boost origination market share but can also cost borrowers more in the long run.