Banks and thrifts reported a slight decline in their income from mortgage-banking activities in the second quarter, according to new call-report data. (Includes data table.)

The settlement is tied to practices Cypress engaged in while operating as a direct mortgage servicer under the name Rushmore. Cypress has since rebranded as a master loan servicer.

The GAO alleged that the CFPB acting director’s decision not to request full funds available from the Federal Reserve constituted an illegal withholding under the Impoundment Control Act.

The lawsuit claims Early Warning Services, which is owned by a group of U.S. banks, failed to protect users from fraud by not including critical safety features in its electronic payment platform, Zelle.

The Senate over the weekend unanimously approved the House version of the Homebuyers Privacy Protection Act.

The Community Home Lenders of America and the MBA applauded the long-overdue passage of the bill.

Loans one payment past due increased 19 basis points during the second quarter, after declining during the first quarter.

Issuance through the first half of 2025 was up by nearly 40% compared with the first half of 2024.

While early-payment delinquency rates showed increases, the rate for loans 120 days or more late declined. Across all three agencies, overall 3.32% of mortgages were past due. (Includes data table.)

The Mortgage Industry Standards Maintenance Organization has published a glossary of artificial intelligence terms and definitions.