Mortgage rates fell to 6.78%, the biggest weekly drop since mid-March, but depleted levels of inventory means it's little overall relief for homebuyers.
The letter from MBA comes after the Biden administration signaled a desire for stronger oversight of nonbank firms late last year, releasing a proposal in April.
Rumored changes to banks' capital requirements for mortgages could result in higher rates, volume shifting to nonbanks and a reduced appetite for MSRs, executives, analysts and trade groups said.
Real estate teams of all sizes continue to perform, according the Streamlined Quarterly Team Benchmarking Report/