Donaldson, Lufkin & Jenrette has confirmed market rumors that it has laid off 23 staffers "from all levels" of its residential and commercial mortgage departments in conjunction with consolidation at the firm.A spokesman said the firm cut overlapping positions in the two departments, which were consolidated in August and re-named "real estate finance," a department within the firm now headed by Steve Kantor, who was formerly with the firm's commercial real estate department.
Over one-third of the Wolters Kluwer survey participants believe the next Fed move will be to boost short-term rates, but most expect one cut next year.
The National Association of Home Builders Remodeling Market Index for the second quarter posted a reading of 61, a one-point decline from the first quarter.
The new Mortgage Bankers Association research adds to debate over whether Fannie Mae and Freddie Mac should allow a less costly alternative to the tri-merge.
Wide regional variances appeared in housing-start activity in 2025, when the traditional leading builder markets all saw numbers decline by as much as 15%.
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
Total application volume fell by over 13.000 units on a month-to-month basis, with declines in purchase and refinance activity, Keefe, Bruyette & Woods said.
