Executives say layoffs will save the company about $30M a year and help it bring its technology to bear on purchase mortgages
Lenders are managing risk by focusing on borrowers with prime credit scores who are keeping a bigger equity stake in their homes, according to Black Knight's latest Mortgage Monitor Report
Nation's biggest provider of purchase loans made 27% fewer loans to homebuyers in 2021
Demand for purchase loans remains steady, but rising rates are closing the door on refinancing opportunities, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey
Second straight week of increases in purchase loan applications following rate reversal suggests stronger sales activity in the weeks to come, according to the Mortgage Bankers Association
Requests to refinance accounted for almost two-thirds of all mortgage applications during the week ending Nov. 5
Net income down 77% from a year ago, when refinancing boom drove higher profit margins
Fannie Mae economists now expect that when the final numbers are in, sales of new and existing homes will grow by 4.7%, to 6.8M
The Fed could begin tapering as soon as November, adding momentum to market forces that have been pushing mortgage rates up in recent weeks
Purchase loan applications rose 2% week over week, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey, released Wednesday
Rising mortgage rates have curbed demand for refinancing and purchase loans after inflation worries pushed rates to highest levels since July, according to the MBA
Lenders are still anticipating a shift in mortgage lending from refinancing to purchase loans, but it may not be as sudden as previously anticipated
Rise in home values may also help borrowers who decided to put their mortgage payments on hold during the pandemic
Builder backlog, ongoing listings shortages and rising home prices prompt Fannie Mae economists to cut forecast for 2021 home sales
Falling mortgage rates have fueled boom in refinancing, but demand for purchase loans has slipped, according to data from Black Knight's July Originations Market Monitor report