Two federal agencies, the Federal Housing Finance Agency and the Federal Housing Administration, are looking at possible reforms to encourage lenders to ease up on overly stringent mortgage underwriting requirements so more qualified consumers can get into homes. (The Daily Herald)

In other news:

Slower job growth in June; U.S. adds 80,000 jobs. (Chicago Sun-Times)

Mortgage rates hit new record lows. The average rate for a 30-year loan was 3.62 percent while a 15-year fell to 2.89 percent.  (USA Today)