Bank regulators warn of increased cyber risk from Iran war

Plus: Mortgage rates spike to 2026 highs

March 13, 2026

Good morning. This is Mortgage Nuggets, where we serve up mortgage news like a master barista—strong and to the point. Let's jump into what we're serving up today!

Disclaimer: Average mortgage rates as of March 12, 2026. © MND Daily Rate Index.

1. Bank regulators warn of increased cyber risk from Iran war

Regulators are warning lenders of increased cybersecurity risk amid the Iran war.

The California Department of Financial Protection and Innovation sent the firms it regulates a bulletin last week informing them of the need for heightened cyber awareness.

Similarly, the New York Department of Financial Services issued a letter last week to chief information security officers of its regulated institutions, alerting them to increased risk of cyberattacks from global conflict, saying “recent events warrant vigilance.”

With the military action occurring in the Middle East, Iran has said it will target financial institutions, specifically those in the region linked to the U.S. and Israel.

2. Senate passes bipartisan housing bill targeting large investors and easing regulations

The Senate yesterday overwhelmingly passed a landmark housing package, moving Congress one step closer to enacting a ban on large investors buying single-family homes.

The bill, which passed 89-10, includes an array of different policies to ease the cost of homeownership, through deregulation, expanding old programs and banning institutional investors from buying single-family homes.

"It's Democrats. It's Republicans. It's pieces they built out together," said Sen. Elizabeth Warren, D-Mass., a co-sponsor of the bill, in an interview with NPR. "That is the strength of this bill."

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3. More Nuggets

📊 Mortgage rates spike to 2026 highs. (Mortgage News Daily)

🏡 Howard Hanna has launched a private listing network named HannaList. (RIS)

🚨 Credit Bureaus are leaving more mistakes on frustrated consumers’ reports under Trump’s CFPB. (ProPublica)

📝 PHH Mortgage is rebranding as Onity Mortgage. (HousingWire)

🆕 CrossCountry Mortgage launches dedicated builder division amid new-home surge. (BusinessWire)

4. Charted: Household income needed to afford the financed purchase of a typically valued home

While the income needed to buy the median-priced home is +78.8% higher than it was in January 2020, it’s down -5.9% year-over-year. Incomes haven’t kept up with the cost to buy in the for-sale market. But they're slowly catching up.

5. Trade groups push back on VA's proposed loss-mitigation rules

The MBA is urging the VA to rework its draft partial claim rules, warning that veterans could end up with significantly worse loss-mitigation options than borrowers with FHA or GSE-backed loans.

The proposed framework places the partial claim option seventh in the loss-mitigation waterfall — MBA wants it restructured so payment-increasing modifications are only a last resort. Both MBA and CHLA are also asking for at least 180 days of lead time before lenders have to comply.

The rules are tied to the VA Home Loan Program Reform Act, which created a new partial claim option for veterans at least three months delinquent — filling the gap left when the VASP program ended in May 2025.

☀️ You’re all caught up. See you on Monday!

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