Purchase loan applications rose 1 percent last week despite latest Fed rate hike, but homebuyer demand for mortgages remained close to 2015 lows, according to the Mortgage Bankers Association. Continue reading
The troubled lender has shed 5,200 workers through layoffs and attrition and is instituting other cost-cutting measures aimed at trimming $400 million in annual expenses by the end of the year. Continue reading
Fannie and Freddie remain profitable but are setting aside pots of money to cover future losses that could result from falling home prices. Continue reading
The real estate brokerage and tech platform is accelerating cost-cutting after posting a $6 million, third-quarter loss, with revenue up 10.2 percent to $111.3 million and agent count up 33 percent, to 9,991. Continue reading
Only 16 percent of those surveyed by Fannie Mae in October said it was a good time to buy a home, and the percentage who said it’s a good time to sell also fell, according to new data released Monday. Continue reading
United Wholesale Mortgage says it’s attracting not only homebuyers, but mortgage originators, by slashing rates and offering the latest technology to build market share. Continue reading
Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers from its lending business during the first quarter and announced another 420 layoffs in June. Continue reading
With rising mortgage rates drastically curtailing lending, Rocket Mortgage saw third-quarter mortgage originations plummet by 73 percent from a year ago, to $23.7 billion. Continue reading
Federal Reserve Chairman Jerome Powell says the pace of rate hikes could slow but may ultimately need to go higher than the forecast in September. Continue reading
Federal Reserve Chairman Jerome Powell says the pace of rate hikes could slow but may ultimately need to go higher than the forecast in September. Continue reading