Origination

The case involved a customer who was charged $100,000 in legal fees when he tried to pay off a commercial mortgage early. After the borrower waged a nearly decadelong legal fight, a Florida court ordered the bank to reimburse a portion of the fees.

Loan officers, processors and closers were impacted, a source said. What remains is a "skeleton crew" to run operations.

Rising mortgage rates also led to the highest level of listing price reductions as well as the largest annual drop in pending home sales, Redfin found.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

However, the downturn will be brief and housing will lead the way out, the government-sponsored enterprise concluded.

While mass firings abound, the employment situation is not moribund for those with certain skills sets in demand.

The $225 million deal has its roots in the creation of the mortgage technology company that currently owns the property information business.

A trade group expert called this "sobering news," given that the third quarter is generally the strongest of the year for the industry.

A Fannie Mae survey says 36% get only one quote, while a separate Zillow study found 72% don't plan to look for options.