The House Financial Services Committee approved H.R. 2808, the Homebuyers Privacy Protection Act, with strong bipartisan support.

Industry participants would prefer to see rules updated rather than rescinded.

Some 16 groups sent a letter of support ahead of a markup in the House. Those in support include the Mortgage Bankers Association and the National Consumer Law Center.

The OCC said its current stance on preemption is in line with the Dodd-Frank Act and Supreme Court precedent.

The first three months of 2025 marked the third consecutive quarter in which the retail channel accounted for less than 50% of total originations.

The Federal Open Market Committee looks unlikely to cut the federal funds rate at its next meeting, in mid-June.

Beginning June 16, custom single-family pools in the Ginnie II program won’t be subject to the 10% concentration limit on mortgages with buydowns.

Mortgage-banking income at banks increased by 65.6% on a sequential basis in the first quarter. Losses were rare among 358 banks reporting mortgage activity in call reports, though Bank of America took a hit. (Includes data table.)

The MBA projects that nearly 30% of originations will be through eNotes in 2028, up from 10% now. eNotes can help reduce costs for lenders and improve customer service, according to industry participants.

Rocket prevails in shareholder lawsuit alleging insider trading; FHFA director looking into mortgage costs; mortgage tech vendor seeing interest from potential buyers.