Mortgages

Judge Sparkle Sooknanan granted the National Fair Housing Alliance a temporary restraining order which requires HUD to resume distribution of enforcement funds.

The agency has a proposed repeal in place, getting ready to be made public on July 28, which would rescind another Biden-era fair housing policy.

The Community Investment and Prosperity Act would increase the statutory cap for bank investment into community development projects, unlocking "billions in capital" that can be directed to affordable housing.

Fannie Mae also foresees more home sales than it did in June, but the Mortgage Bankers Association reduced its origination projections for 2025.

A Wells Fargo customer was surprised to receive a "cryptic notice" and a cashier's check from the firm compensating him for float fees charged more than a decade ago. A lawsuit followed.

Private mortgage insurers must accept the FICO alternative as valid collateral before it can be widely adopted by the mortgage industry.

The Department of Housing and Urban Development reiterated it has withdrawn a number of FHA mortgagee letters related to appraisals.

The 30-year fixed mortgage rate rose for the first time in six weeks, driven by Friday's strong jobs report and renewed uncertainty around tariffs.

Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.

The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.