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The lending and servicing giant is also amping up cost-saving efforts with more layoffs after reporting a net loss of $223.8 million in the second quarter.

Economists disagree on whether the latest numbers will mean the Fed will increase rates by 50 or 75 basis points.

But volumes are still at least 80% lower from a year ago, while mortgage applications overall came in flat.

Loan availability also took its steepest monthly dive since the first months of the coronavirus pandemic, with jumbo products falling off by more than 13%, according to the Mortgage Bankers Association.

While a growing share of consumers expect housing costs and interest rates to decrease over the coming year, uncertainty is also leading some to see it as an inopportune time for both purchasing and selling, Fannie Mae reported.

The way the Federal Housing Administration is funded and constrained by laws, rules and other operational limitations is analogous to the FHA living in the horse-and-buggy era in an age when we are starting to see driverless cars, writes the executive director of the Community Home Lenders Association.

More cost reduction is on the way in the third quarter, but management says it will not layoff staffers, despite having some excess capacity.

The tech company's earnings are reflecting a cooling market.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.

Rates are expected to increase to 3.75% to 4% by the end of the year, and it's anticipated to stay high for longer.

The 30-year average has declined by 55 basis points in two weeks.

Refinances inched up 2% as interest rates dipped, but accounted for only 31% of activity, compared to two-thirds a year ago.

The day after the Federal Open Market Committee's next meeting we will analyze the increase and the signals about what rate hikes may be coming.

Several lenders have introduced loan offerings this year to tap into surging property values, as refinances plunge by more than 80%.

The allegations by Rep. Patrick McHenry and others were a response to a CFPB interpretive rule, even though states use their own laws prohibiting unfair and deceptive acts and practices.

Fed Chairman Jerome Powell brushed off concerns that rapidly tightening monetary policy could disrupt the financial system. Some economists and policy experts beg to differ, raising concerns about loan defaults or even the collapse of a key institution or counterparty.

Net interest income was the driver, as increases from investments more than offset a decline related to its guaranty book of business.

Also, Click n' Close, LendArch, First Community name chief officers, Evergreen promotes long-time leader to president and LenderClose grows its marketing team.

The decline was driven by a $307M provision to cover potential credit losses, primarily from its single-family business.

Investors had largely factored in an anticipated increase in the federal funds rate, but latest GDP numbers could result in more volatility.