Western Alliance generated a gain-on-sale margin of 37 basis points in the first quarter, up from a 30-bp margin the previous quarter.

The Brokers Action Coalition is proposing to reduce the number of pulls by allowing borrowers to take their credit reports with them when they shop for mortgages.

Annaly’s income dropped by 71.5% compared with the fourth quarter. But the real estate investment trust was profitable while other REITs that focus on agency MBS have posted losses for the first quarter.

Applications for both purchase mortgages and refinances increased last week as interest rates declined.

A total of $69.89 billion of non-agency MBS came to market in the first three months of the year, a 34.8% increase from the fourth quarter.

Mortgage industry participants largely backed the proposed rule while consumer advocates had strong opposition.

“Government policy is squarely in the driver seat, defining and driving outcomes,” said Smriti Popenoe, co-CEO and president of Dynex Capital.

The Council of FHLBanks signaled strong support for the Trump administration’s recent executive order for a more favorable regulatory environment for community banks.

Renters save an average of $920 per month compared to buyers.