The Lede

Wells Fargo Home Mortgage announced an ambitious plan to loan $125 billion to as many as 500,000 Hispanic homebuyers over the next 10 years - capitalizing on a growing and under-served segment of the U.S. market.

First and second lien mortgage defaults both increased in August from July, according to the S&P/Experian Consumer Credit Default Indices.

Two of the largest U.S. home builders are redoubling their push into the rental-apartment market, despite concerns the red-hot segment is getting overbuilt.

As Fed policy makers ponder whether and when to raise rates, an important factor in their decision will be whether to wait to see if recent market turmoil points to unanticipated trouble in the global economy.

U.S. consumer spending grew at a fairly healthy pace over the past two months, pointing to underlying strength in domestic demand that could strengthen the case for the Federal Reserve to hike interest rates on Thursday.

Business inventories rose 0.1% in July to a seasonally adjusted $1.81 trillion, the Commerce Department said Tuesday.

The Mortgage Action Alliance is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association.