Mortgages

The $1.25 trillion-asset Home Loan Bank System collectively issued $303.9 billion in discount notes and bonds last week, with demand tapering dramatically from $111.8 billion on Monday to $21.7 billion by Friday.

The system of 11 regional banks issued a combined $137 billion of bonds and discount notes on Tuesday and Wednesday, after selling $112 billion on Monday, the largest single day of issuance in its 90-year history.

Both 30- and 15-year averages dropped for the first time in six weeks, as investors flocked to safety of 10-year Treasuries.

The new fees based on the DTI, which lenders have said is too likely to vary throughout the origination process for a single loan, will now go into effect in August.

The Consumer Financial Protection Bureau issued a new report on junk fees and CFPB Director Rohit Chopra spoke at a White House virtual meeting encouraging states to tackle the proliferation of junk fees through legislation.

More than 90% of appraisers are white, and researchers have found that bias leads to lower valuations for homeowners of color. A Flagstar executive said the mortgage-focused bank is "not just going to sit on the sidelines and watch this happen."

The Federal Housing Finance Agency head has said: "The status quo is not acceptable." She could not be more correct.

The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.

The lack of housing — particularly on the lower price range — is becoming an increasingly urgent political issue. But it's also a twisted bramble of tradeoffs that politicians are reluctant to touch.

Overall, depository share has shrunk, but the major player, which had reduced its involvement, has been increasing it and recently shared some thoughts with a HUD official.