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By "going big" in 2020, the Federal Reserve has managed to disrupt the term structure of interest rates to an alarming degree, writes the Chairman of Whalen Global Advisors.

Both the plaintiffs and the bank filed a motion for the federal court to reconsider the settlement, which was reached in mid- 2022, but the judge responded that neither party articulated "sufficient reasoning to meet the high bar."

A decline in refinances was offset by a rise in purchase loans, largely among government-guaranteed programs, according to the Mortgage Bankers Association.

The Mortgage Bankers Association attributes this to muted demand for home purchases and companies trimming their operations.

Nearly all Fed participants support additional increases in interest rates in 2023, with the Federal Reserve Bank of Atlanta President as an exception who has called for holding steady for the rest of this year and "well into 2024."

The proposal would bring companies cited for civil enforcement actions under its scope to bar them from doing business with the government-sponsored enterprises.

Also, Fannie Mae on climate risk and a non-QM product lenders are loving right now.

In their latest assessment of the bond market outlook, Morgan Stanley strategists are challenging the former head of the Federal Reserve Bank of New York's view that losses are likely to deepen.

A vast majority of the pool, 86.35%, consists of primary homes. Investment properties and secondary homes, meanwhile, account for 11.29% and 2.36% of the collateral.

Wells Fargo directed its bilingual team to steer customers away from products with no closing costs toward "predatory lending options" without disclosing the costs, in part by refusing to provide Spanish-language written materials, according to the complaint.