Origination

Between 2020 and 2022, both companies benefited from locked-down consumers that took on renovations.

Federal Housing Finance Agency Director Sandra Thompson is pushing for a quick launch of pilot programs at the 11 Federal Home Loan banks to help underserved communities after its report this week prescribed major reforms to the system.

Median housing costs came in higher in every region of the country, but several cities that saw the most growth two years ago continue to see declining values, the National Association of Realtors said.

The market could find out next year how well foreclosure prevention innovations and home equity protect borrowers from growing strains on affordability.

Sun Belt cities saw the greatest annual decline in transactions over the third quarter, with Atlanta's number down to half of its level at the same time in 2022, Redfin said.

All of the loans were originated by CrossCountry Mortgage, which previously had a relationship for this product with Starwood.

Broader economic factors, including growing household debt, are also likely to keep the housing market stagnant, Freddie Mac said.

Its strong balance sheet opens up opportunities for the mortgage lender to bring more companies under its helm, executives during the earnings call said.

WeWork, once valued at $47 billion, needs to slash costs and shore up its finances as it tries to continue operating.

The firm says the product can save companies in excess of 30% of their existing cost structure.