U.S. Bank generated $137 million in mortgage-banking revenue in the fourth quarter, down 4.9% from the third quarter.

The case will determine the extent to which federal regulators can preempt state laws.

Applications for purchase mortgages in early January were down 20% on an annual basis.

Volume was down on an annual basis across prime, subprime, Alt A and scratch-and-dent deals.

Wells Fargo reduced the employee count in its home lending division by 36% on an annual basis in 2023.

"What Fannie and Freddie and the FHFA should be doing is trying to convince Congress it’s time to get them out of conservatorship," said James Lockhart, the former director of the Federal Housing Finance Agency.

"[ChatGPT] could provide quick, accurate responses to clients so that loan officers, real estate agents and recruiters can spend more time building relationships and closing more deals," said Marvin Bantugan, chief technology officer of Zventus and co-chair of the Hyperledger mortgage subgroup.

The new Ginnie product would relieve pressure for reverse mortgage lenders.

Lakeview handled $644.49 billion in agency servicing as of the end of 2023.

Mortgage originations declined by about 30% in the fourth quarter at BofA, Chase and Wells.