The Lede

National Mortgage News, Aug. 6, 2019--Bonnie Sinnock (subscription)Steeper rate declines contributed to a deeper quarterly net loss at Ocwen Financial, forcing it to extend its timeline for returning to profitability.

HousingWire, Aug. 6, 2019--Ben LaneThe New York Department of Financial Services and New York Attorney General Letitia James sued Vision Property Management and the company's CEO, Alex Szkaradek, for allegedly operating an "illegal, unlicensed mortgage-lending business profiting from predatory subprime home loans at the expense of some of the most vulnerable New Yorkers."

HousingWire, Aug. 6, 2019--Jessica GuerinA recent report from Moody's revealed that banks reported a 0% net change in residential mortgage underwriting standards in the second quarter of 2019. And, with interest rates falling, it expects standards to "remain stable and possibly to tighten modestly."

National Mortgage News, Aug. 6, 2019--Brad Finkelstein (subscription)FHA insured three-quarters of the mortgages obtained by millennial homebuyers as most had trouble saving up for a 20% down payment, according to a study by online financial marketplace LendEDU.

Reuters, Aug. 6, 2019--Lucia MutikaniU.S. job openings and hiring fell in June, suggesting that demand for labor was cooling in tandem with a slowing economy, which could provide another reason for the Federal Reserve to cut interest rates again next month.

Los Angeles Times, Aug. 6, 2019--Liam Dillon A long-awaited study detailing how much cities and counties charge developers to build housing in California found that such costs are often hidden, vary widely across the state and have slowed growth.