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Rates Better, But Not New Activity Again the average 30-year fixed-rate mortgage fell to a new record low, Freddie Mac reported. The one-year adjustable-rate mortgage was down 6 basis points compared to a week ago. But still, mortgage activity declined 7 percent this week based on the Mortgage Market Index. Business Deteriorates at LendingTree LendingTree Loans closed 43 percent fewer loans during the second quarter than it did a year earlier, according to earnings data from its parent company. Matched requests at the exchanges segment tumbled 19 percent during the same period. The company reported 38 fewer exchange segment closings. Fifth Third Touts Refinance Ops Refinance volume at Fifth Third Mortgage Co. totaled $4 billion between April 2009 and now, the company reported. Many customers are taking advantage of the lowest rates since the government's Home Affordable Refinance Program began, the announcement indicated. On numerous occasions, Freddie Mac has recognized Fifth Third for running "one of the most efficient relief refinance operations in the country," according to the statement. WA Implements Licensing Requirements Mortgage bankers and brokers in Washington now have to be licensed unless they work for a bank or credit union. The Washington Department of Financial Institutions is charged with implementing the new rules. New requirements for mortgage-loan originators who don't work for a bank or credit union include 20 hours of pre-license education. BNY Wins NM Case; Borrowers Appeale A state district judge has ruled that Equity One didn't use deceptive marketing to encourage a New Mexico couple to borrow more money than they had the ability to repay. The Bank of New York acquired the mortgage and won the right to foreclose on the loan. The case is now pending before the New Mexico Court of Appeals.