The biggest increases in home equity lending this year have been seen at nonbanks. Rocket Mortgage more than doubled its originations of closed-end second liens in the first half of 2024 from a year ago. (Includes three data charts.)

Depository institutions pulled back, to some extent, from mortgage lending in the first half of 2024 and nonbanks stepped in to fill the void. Nonbanks accounted for nearly 65% of originations in the first six months. (Includes two data charts.)

A Fed board member recently outlined plans for re-proposing bank capital requirements. The FDIC appears to be running into complications.

“After reviewing the comments and reconsidering the proposed rule’s substantive and procedural amendments, FHFA has determined that a number of material changes to the rule are necessary,” the agency said.

Democrats in the Senate are seeking new federal programs to address housing affordability while Republicans think existing programs can be more efficient.

The federal government is now funded through Dec. 20.

Recent readings on home price appreciation suggest that annual appreciation in 2024 could be lower than expected.

Beginning Dec. 9, servicers must use Freddie’s Resolve default management tool to complete the following actions: charge-offs, foreclosure sale reporting, custom modifications, deed-in-lieu of foreclosure and third-party foreclosure sale settlements.

Refis accounted for 55.7% of mortgage applications last week.

The revamped rules allowed lenders to use a wider variety of standards to meet ATR and qualified-mortgage requirements while also introducing some uncertainty on whether specific loans comply with ATR standards.