Rate locks declined by 14% on a monthly basis in December, driven by fewer locks for purchase mortgages.

The dollar volume of mortgages going to Fannie Mae and Freddie Mac declined by 47.3% compared with 2022.

During the COVID crisis Stevens served as an unofficial policy advisor to elected officials and regulators, making the case for interest rate cuts and liquidity measures.

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.