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.

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

Laws in a number of states require mortgage servicers to make interest payments to borrowers on funds held in escrow. The Supreme Court will hear oral arguments on the matter in February, helping to clarify the OCC’s stance on federal preemption.

Industry participants and consumer advocates separately applauded the CFPB’s Section 1033 proposal on open banking. There were also plenty of suggestions for adjustments among the thousands of comment letters submitted.