Julia Gordon said that the FHA is looking at mortgage assumptions, but is unsure how much rule tweaks would impact the market. Home prices have risen "so much, so quickly" that borrowers sometimes have to bring a lot of cash to the table, Gordon said.
Video depositions with three of the industry's top executives were presented to the jury on Day 2. Subjects included setting commissions, steering, "co-opetition" and confidential NAR meetings.
Housing starts climbed to a seasonally adjusted annual rate of 1,358,000 in September, according to HUD and Census Bureau data.
Bank of America reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter.