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"The committee is strongly committed to returning inflation to its 2% objective," the Fed said in its semi-annual report to Congress released Friday.

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.

A week after it dropped to a 28-year low, purchase activity decreased again by over 5%, according to the Mortgage Bankers Association.

Consumer Financial Protection Bureau Director Rohit Chopra says the bureau is continuing with its enforcement agenda and that financial firms face risks from the Supreme Court case.

In Jay Farner's last earnings call as CEO, management emphasized long-term client development efforts like the forthcoming credit card program.

The company reported an $80 million loss for the three-month period on mortgage servicing rights declines but $26 million in net income for the year.

However, while the "market share" analysis is a useful check on the reasonableness of benchmark levels, it is impacted by any errors in the HMDA data, notes a former principal economist at the Federal Housing Finance Agency,

While it isn't a partnership between the firms, Amazon Web Services powers the loan origination system for the lender, which has funded over $1 billion in mortgage volume with the online retail giant's workers.

As many had predicted, the federal regulator will be seeking to halt the acquisition by Intercontinental Exchange, according to a report from Politico.