Origination

The company, which is undertaking a substantial cost-cutting reorganization and laying off thousands, also announced pay raises last month for at least two executives.

The high interest rate environment is causing repeat buyers to pull back from the market, creating ample space for entry borrowers to purchase a home.

Origination activity dropped quarter-to-quarter by more than prior industry estimates, however.

Consumer and business confidence is already under immense pressure from the rising cost of living, at the same time that equity, bond and real estate prices are falling.

The West Coast and across the Rocky Mountain region are the most vulnerable to price declines in the coming months as both sellers and buyers readjust their expectations.

Loan officers say that the platform discourages them from originating loans.

The letter, sent under the banner of the Black Homeownership Coalition, is the second in two months sent by the trade group in its ongoing campaign.

Altogether, the lender has reduced funding capacity by over $900 million in the past month.

But conspicuously missing from the mortgage industry's discussions about affordability, housing equity and the future health of our industry is the growing, disruptive influence of single-family home investors, particularly institutional investors, writes the president of Down Payment Resource.

Rent of shelter and owners' equivalent rent each accelerated 0.8% in September from the prior month, the most since 1990, according to Labor Department data released Thursday.