Refinance

Its stock price, which slid since day two of trading, opened 10% on the earnings news.

The FHFA director’s move this week to impose an “adverse market fee” of 0.5% on most refinanced mortgages will shift billions out of the hands of American consumers and into the hands of Fannie Mae and Freddie Mac — and their private shareholders.

But the 30-year fixed remains below 3%, which should continue to support increased demand.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

Refinance volume led the spike in mortgage applications for the week ending Aug. 7 as interest rates continued tumbling.

The company's Dun & Bradstreet investment reduced its results by $31 million.

Gross supply as of the end of June has already reached $1.2 trillion, a torrid pace considering the last decade has averaged $1.3 trillion per annum.

Conditions have improved for the first time since November.

Insurance claims and claims expenses were 503% above 1Q and 1,075% over 2Q19.

With over 4 million millennials entering prime home buying age each year through 2023, purchase activity will be driven much higher, according to Ellie Mae.