The fees in question related to mortgage payments made over the phone or online. HUD said accepting and processing mortgage payments is part of a servicer’s ordinary activities for which it is already paid.

Among the changes, FHA has reduced the required rental income history to 12 months from two years.

Banks and thrifts repurchased $213.6 million of single-family mortgages during the third quarter, an 11.5% decline from the previous period.

Commercial banks and savings institutions reported another decline in the volume of mortgages they repurchased in the third quarter of 2024. PNC Bank accounted for the largest chunk of the bank industry’s repurchases, at 11.3%.

JPMorgan Chase had the most profitable mortgage-banking operation in the third quarter, with $633.0 million of income.

Combined, banks and thrifts reported $2.21 billion in mortgage-banking income during the third quarter, a slight increase from the previous period. Through the first nine months of the year, industry earnings were up 8.7% from the same period in 2023. (Includes data table.)

Banks and thrifts serviced $3.023 trillion of mortgages for other investors as of the end of September.

Only two institutions among the top five banks reported an increase in SFO in the third quarter. (Includes data table.)

Payoffs accounted for 89.1% of total loan liquidations from Ginnie MBS in the third quarter.

Loan removals from Ginnie pools was led by borrower payoffs, which accounted for 89.1% of total liquidations in the third quarter. (Includes two data tables.)