FHFA Nixes Controversial DTI Fees

After industry opposition to a fee that would have levied an upfront fee on borrowers with debt-to-income ratios greater than 40 percent, the Federal Housing Finance Agency announced it’s dropping the plan.

Report: IMBs Lend More in LMI, Minority Neighborhoods

Even though the Community Reinvestment Act does not apply to independent mortgage banks, these nonbank lenders provide a higher share of their mortgages in minority and low- and moderate-income neighborhoods than banks do, according to a new report from the Urban Institute.

Strong Jobs Report Could Push Up Mortgage Rates

The U.S. economy put in a surprisingly strong showing in in January, adding 517,000 new jobs despite layoffs in tech firms, on Wall Street and in the mortgage industry. And while experts say it’s a sign the country is on a path to a “soft landing” from 2022’s tumultuous inflation, it could push mortgage rates up.