A combination of internal mismanagement and lax regulation led to the failures of Silicon Valley Bank and Signature Bank, according to reviews by the Fed and the FDIC. The regulators plan to tighten regulation of banks, including a focus on interest rate risk.

Applications for refinances increased by 1.0% last week and applications for purchase mortgages declined by 1.0%.

The regulator issued a proposed rule to set ability-to-repay standards for PACE loans.

With interest rates elevated, there's little incentive for servicers to exercise early buyouts.

Chase isn’t going to follow First Republic’s jumbo-lending model.

Rising interest rates made it a lot harder to qualify for a refi in 2022, according to a new analysis of HMDA data. The denial rate on applications for refis nearly doubled for certain loan products. (Includes data chart.)

The CFPB’s efforts to combat redlining include a new emphasis on discriminatory targeting. The regulator’s argument for the application of ECOA in instances of reverse redlining is being questioned.

The CFPB issued an advisory opinion last week reinforcing that the Fair Debt Collection Practices Act includes protections against collections on time-barred debt, including second liens originated prior to 2008.

The MBA submitted a brief in court pointing out flaws with legal arguments from the CFPB and DOJ regarding the liability lenders face from appraisers.

The CFPB and three other federal agencies issued a statement highlighting concerns about bias in automated systems. The CFPB is particularly concerned about home valuations, lending and marketing.