Pete Mills, a senior vice president of residential policy and strategic industry engagement at the MBA, wrote that the proposal has theoretical benefits but they’re impossible to assess given the limited details FHFA included in the request for comments.

“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.