Originations

But median prices still rose 17% year-over-year, the company found.

Second quarter open orders were 37% higher than one year prior, while closed orders grew by 43%.

While the company's mortgage originations saw a 46% annual drop in gain on sale margin, it anticipates that annual volumes will exceed 2020 levels.

The Department of Housing and Urban Development and Federal Housing Finance Agency, which supervises Fannie Mae and Freddie Mac, formed a pact to share information and coordinate investigations of potential fair-lending violations.

The companies are investing more in government-insured equity withdrawal products for borrowers ages 62 and up, which offer higher returns.

Shrinking gain-on-sale margins also ate into earnings, with growth expected to slow for the rest of 2021.

A jump in jumbo loan programs was countered by lenders dropping high loan-to-value conforming products.

The average was up from 2.77% last week and the highest since July 15, Freddie Mac said Thursday.

The median price of an existing single-family home jumped 23% from a year earlier to an all-time high of $357,900, the National Association of Realtors said in a report Thursday.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.