Participants in the MBS and ABS market have widespread concerns about a proposal to adjust capital requirements for large banks. They argue that the proposed capital requirements are unnecessarily high.

FINRA proposed reducing trade reporting requirements to one minute after execution from 15 minutes. Many trades of agency debt securities and TBA MBS already meet the proposed reporting requirements, while ABS reporting lags.

Banks, nonbanks and consumer advocates have major concerns about a proposal to adjust capital requirements for large banks. The proposal would touch on mortgage lending, MSRs and warehouse lending.

According to an early read, banks suffered double-digit home lending declines in the final lap of 2023 even though rates fell by at least 80 bps.

It's only the second jumbo MBS in the market thus far in January.

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

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.

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