Secondary

The limit for high-cost areas for 2023, 50 percent above the baseline limit, would be approximately $1.08 million, writes a former principal economist with the Federal Housing Finance Agency.

The writing on the wall says the market will deteriorate further, the company's executives said in a written statement.

The lender reported a 24% drop in volume quarter-over-quarter but said it compared favorably to the average 29% decline projected by the Mortgage Bankers Association.

The company is reporting both higher origination volume and net earnings on a quarter-to-quarter basis.

The company's volume fell behind its wholesale-focused chief competitor's in the third quarter but management foresees potential weakness in the broker channel.

Without the increase in valuations, the company recorded a reduced, adjusted, pretax loss in the third quarter; so it's doing more to cut costs and focus on subservicing strategies.

Leaders of its parent company touted the success of subscription models and also made a case for its proposed merger with Black Knight in an earnings call

These associations contribute some relatively affordable housing to a pricey market, but key mortgage stakeholders have tightened criteria in the wake of a building collapse that highlighted the sector's particular risks.

Servicing numbers propelled the REIT to the positive third-quarter result, while the company also announced it had acquired a stake in a commercial real estate investment firm.

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.