Certain home sales of $400,000 and under may soon not need an appraisal, as federal regulators are close to approving a proposal to increase the threshold at which residential home sales require an appraisal for the first time since 1994.

Hurricane season is in its peak, yet one in four homeowners still say they have made no preparations. In fact, the majority of homeowners largely underestimate the cost of hurricane-related damage.

Santander Bank, the U.S. banking arm of Spain’s Banco Santander, is exiting its third-party mortgage origination business as the lender shifts its focus to originating mortgages through its 600 retail bank branches. The move will lead to at least 65 layoffs.

Increasing anxieties over a recession could be the cause of the next recession, according to Analyticom President Dan Geller, developer of the theory of money anxiety. Geller’s theory explains that an increase in money anxiety can lower consumer confidence and cause a recession by reducing consumer consumption by just 5%.

The president and CEO of a California mortgage firm was arrested earlier this week and charged with sexual assault, stemming from an alleged incident that took place in Hawaii. Jason Freskos, the president and CEO of Sequoia Mortgage Capital, was arrested in California earlier this week on charges that he sexually assaulted a woman during a trip to Hawaii.

Mortgage originations in commercial and multifamily surged 10% annually in the second quarter, according to the Mortgage Banker Association. Not only did multifamily and commercial originations increase from the previous year, they also rose by 29% from the first quarter of 2019.

This week, the average U.S. rate for a 30-year fixed mortgage fell to another three-year low, averaging 3.55%, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the drop continues to stimulate the real estate market and the economy as lower mortgage rates shore up home sales and provide support to homeowners' balance sheets.

With the company seemingly moving closer to being returned to its pre-crisis state as a private company, Fannie Mae is bringing on some serious banking experience to help guide the GSE’s future. Fannie Mae announced Wednesday that Sheila Bair, the chair of the Federal Deposit Insurance Corp. during the financial crisis, is joining the GSE’s board of directors.