Comptroller of the Currency Jonathan Gould said that the Office of the Comptroller of the Currency would continue to pursue its view on federal preemption of state banking policy in court and in Congress.

CEO Anthony Hsieh said refinances should provide notable benefit to its direct lending unit a day after LoanDepot announced a return to the wholesale channel.

Nonagency underwriting is expanding but the public sector is a different story due to recent performance issues, according to the Mortgage Bankers Association.

Civil rights groups object to a $68 million settlement between the Department of Justice and Colony Ridge Development in Texas, calling the deal a sham for funneling $20 million into immigration enforcement and surveillance of victims.

UWM raised its Q1 and full-year 2026 revenue guidance ahead of Two Harbors’ March 16 shareholder vote, citing AI efficiency gains, amid stock volatility since the merger announcement.

Afternoon Weakness in Bonds Despite Lower Oil Prices. Will CPI Matter?

Days like today are a problem for a “set it and forget it” mentality when it comes to energy prices and the bond market. On many occasions since the beginning of last week, the correlation between oil prices and bond yields has been plain to see. Additionally, oil price volatility has been the only way to explain much of the movement in bonds. Now this afternoon, bond yields broke higher despite no clear cues from oil. We are left to lean on things like a weak 3yr Treasury auction and general supply pressures surrounding a large corporate bond issued by Amazon. Tomorrow brings CPI–usually a relevant market mover, but unlikely to carry as much weight given the current backdrop.

Econ Data / Events

ADP Weekly Employment

15.5k vs 12.75k prev

Market Movement Recap

08:56 AM Weaker overnight vs Monday’s late-day rally levels.  Stronger vs 3pm close. 10yr at 4.124. MBS down 19bps from 5pm, but up a few bps vs 3pm.

09:54 AM MBS down 5 ticks (.16) on the day and 10yr up 2.5bps at 4.12 

12:17 PM MBS down 3 ticks (.09) and 10yr up 1.6bps at 4.112

03:22 PM MBS down 7 ticks (.22) and 10yr up 4.6bps at 4.142

In the highest-priced housing markets, some buyers see adjustable-rate mortgages as the only loan they may initially qualify for, Cotality found.

TransUnion cuts VantageScore 4.0 to $0.99, aiming to boost lender choice and affordability as FHFA pushes mortgage score modernization and competition.

The company dropped the broker channel just months after Frank Martell became CEO; now that Anthony Hsieh is running things again, LoanDepot brought it back.

San Francisco-based Anthropic is challenging a decision by the department and other federal agencies like the Federal Housing Finance Agency to shift their AI work to other providers.