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The Federal Housing Finance Agency head has said: "The status quo is not acceptable." She could not be more correct.

The proposal is out for comment through May 1, and the initial mortgage lender reaction is that the measure could be helpful with remote work and budgeting.

The cuts amount to less than 1% of Citigroup's 240,000-person workforce, according to people familiar with the matter.

The Federal Home Loan Bank of San Francisco confirmed Thursday night that Silvergate Bank has "fully repaid" the $4.3 billion it was lent in advances late last year. The bank had said in a regulatory filing that repaying the advances "could result in ... the bank being less than well-capitalized."

Purchase and refinance mortgages continued their slide as total origination volume was $475.5 billion during the final months of 2022, down 56% from the end of 2021.

The government-sponsored enterprises will likely have their mainstay bonds exempted from the potential securitization-related rule, but their credit-risk transfers could be subject to it, some experts say.

The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.

The ownership rate among the group rose 4 percentage points in ten years to top 50%, according to a report by the National Association of Realtors.

The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.

The business is heavily reliant on mortgage originations and some participants are turning to other sources of income to bolster results.