“Purchase activity continues to lag despite this recent decline in rates,” said Joel Kan, a vice president and deputy chief economist at the MBA.

The CFPB is considering rulemaking or guidance aimed at improving competition, choice and affordability.

The proposed increases range between about 17% and 25%, depending on the fee.

The allowable fee lenders/servicers can charge for assumptions of FHA mortgages is now $1,800.

Chime Financial to pay more than $4.5 million in redress and fees; Chopra pushes for further action from FSOC on nonbank servicers; financial associations are worried about the CFPB’s potential consumer complaint survey; CFPB takes another action involving student loan ABS; CFPB sues online lending platform.

The five largest banks in terms of servicing for others all reduced their portfolios in the first quarter.

An estimated $59.0 billion of refis were originated in the first three months of the new year, a 31.1% increase from the previous quarter.

Bob Broeksmit, president and CEO of the MBA, said that if the Supreme Court had invalidated the CFPB's rules, there would have been a severe impact on the housing market.

There's a new no-downpayment purchase mortgage product and title insurance services.

Marcia Fudge is now a partner and chair of public policy at Taft, a law firm.