Mortgage applications

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.

Rocket Mortgage's acquisition of Redfin has been mischaracterized as harming competition in the mortgage lending space. The truth is that it could be a major boon for mortgage borrowers.

Royal Bank of Canada executives said they plan to start originating more mortgages in the United States, and they indicated that they may ditch the City National Bank brand.

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

The lawmaker said leadership on the House Financial Services Committee is supportive of the legislation, which would limit the ability of credit-reporting agencies to sell homebuyer information to financial service providers.

The Consumer Financial Protection Bureau and Department of Justice issued a consent order against Wisconsin-based nonbank mortgage originator Fairway Independent Mortgage over redlining allegations. Fairway is the country's fifth-largest mortgage originator by volume.

Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.

Navy Federal, the nation's largest credit union, is facing a lawsuit about its allegedly discriminatory mortgage lending practices.

The lawsuit accuses Navy Federal of violating the Fair Housing Act and the Equal Credit Opportunity Act after a CNN report that the lender approved a lower percentage of Black and Latino mortgage applicants.

The Consumer Financial Protection Bureau is appealing a lower court ruling that the agency exceeded its authority in bringing an anti-discrimination enforcement action against a Chicago mortgage lender after he made disparaging remarks about Blacks and Hispanics.

The number of government-backed home loans transferred from one borrower to another is up significantly this year as prospective buyers look for ways to avoid elevated interest rates. Some say this is the beginning of a larger movement, but others say regulatory hurdles will get in the way.

A continued slowdown in refinances, though, drove overall loan-application volumes lower last week, even as the Government Index posted a small gain, according to the Mortgage Bankers Association.

Both purchases and refinance volumes climbed higher, as interest rates flattened following earlier volatility, according to the Mortgage Bankers Association.

Pride month is the perfect time to take a hard look at the discrimination that LGBTQ people face in the financial services industry, particularly when it comes to obtaining credit.

The 30-year average for both conforming and jumbo loans jumped more than 20 basis points, according to the Mortgage Bankers Association.

Home loan applications dropped for the second time in three weeks, with the 30-year conforming interest rate ticking up 13 basis points, according to data from the Mortgage Bankers Association.

The Fed's interest rate hikes are meant to tame inflation, but the secondary impacts on housing could give the central bank a reason to pump the brakes.

The mortgage market is reeling from the central bank's strategy of raising rates and reducing its holdings of mortgage-backed securities. Lenders face the worst headwinds in more than a decade.

Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A congressional panel meeting to discuss the issue was once again split between lawmakers from storm-threatened states and those concerned about government costs.

A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks.