Industry Jobs Lost as of 4/25/2024
Rates Hit 7.24%
Purchase Apps, Refis Slip– ARMs See Boost
Existing Home Sales Fall
Starts, Permits Plummet
Rates Top 7%
New Home Sales Fall
Realtors Stage “Tactical Retreat”
NAR Commissions Slashed
Powell: Housing In “A Very Challenging Situation”
Pending Home Sales Fell Off In January
Home Lending Near Two-Decade Low
Foreclosures Jumped 10% MoM In January
Investors Bought 26% Of Affordable Homes In Q4 2024
Powell Warns Of CRE Weakness
Fairway Exits Wholesale Lending
Americans Must Be “Wealthy Or Lucky” To Buy A Home
“Buying A Home Is Not Even Remotely Possible”
Market Is “Slow-Moving Train Wreck”
December Delinquencies Rise On Calendar Effects
Housing Starts Down In December
Empty Nesters Beating Out Young Families
Mortgage Volumes At Big 3 Banks Down $138B In 2023
Pennymac Laid Of 84 Employees In November
Mortgage Applications Tank Ahead Of 2024
Mortgage Applications Slip
Lenders Continue Tightening Credit
Homeowners Can Afford Less Space Now Than Same Time Last Year
Housing Sentiment Hits New Survey Low
Commercial Delinquencies On The Rise
Pending Home Sales Sink To 20-YR Low
Active Brokers vs Origination Dollars:
Larger Share Of Homes Selling At A Loss
IMBs Report Bigger Losses In Q3
Black Neighborhoods Still Face Discrimination
PBCO Exits Residential Lending
GA-Based Homestar Financial Shutting Down
Applications Down As Treasury Yields Rise
Existing-Home Sales Sink Even Further
Applications Sink To Lowest Point Since 1995
Homeowners Face Scary Halloween Expenses
ARM Rush Pushes Apps Up
Capitol Hill Chaos
Purchase Activity Falls To Lowest Point Since 1995
Mortgage Applicants Struggled In 2022
Pending Sales Reverse Course
Affordability Hits Lowest Levels In Three Decades
JPMorgan Shutters 14 First Republic Branches
Americans Worried They Can’t Afford A Home
Rates “Anchored” Above 7%
Rate Locks Down 1.5% MOM
Divvy Announces Third Round Of Layoffs
One In Five Millennials Believe They’ll Never Own A Home
Consumer Confidence Plummets
AmeriFirst Files For Bankruptcy
NAR President Created “Culture Of Fear” For Women
“Tough” Lending Leads To More Downgrades
Rates Up, Apps Down After Retail Sales Data
Rate Lock Volumes Slip
Delinquencies Improved In Q2, But The Future Looks Bleak
Credit Availability Fell In July
Mortgage Applications Dip Again
Rocket Offers Employees Buyouts
Treasuries Set To Challenge The Mortgage Market
U.S. Bank Lays Off Mortgage Staffers
Price Growth Drops To Lowest Level In 11 Years
Affordability Worsens
Fannie Mae: Recession Is A “When, Not If”
2.4 Million Americans Priced Out Of Housing Market
Comerica Exiting Mortgage Banker Finance Industry
Foreclosures Spiked In May
“Very Frightening Time” For Housing Market
Elon Musk Warns That Residential Prices May Crash Due To CRE Weakness
Planet Acquires Platinum Home Mortgage
Reduced Profits Are Stinging Sellers
Consumer Confidence Slips To 6-Month Low
Lowest-Ever Share Of Americans Believe It’s A Good Time To Buy
Mr. Cooper Buys Home Point
Republic First To Quit Originations
Home Price Growth Shrinking
Impac Mortgage Delisted From NYSE
‘Pending Home Sales Sank In March
Consumer Confidence Falls To Nine-Month Low
Lower Rates “Won’t Make Homes More Affordable”
Existing Home Sales Dipped In March
Wells Fargo Lays Off Another 78
iBuyer Opendoor Cuts 22% Of Staff
Interest Rate Increase Pushes Mortgage Applications Down
Tighter Credit Causes New Headache For Mortgage Market
Single-Family Price Growth Slowed YOY In Q1 2023
Buyers Holding Onto Skewed Ideas Of “Normal” Rates
Homeowners Feeling The Squeeze Of Inflation
First Federal Bank Acquiring Mortgage Division From BNC National Bank
Richmond, VA, Officially Declares Housing Crisis
IMBs Lost Money On Every Loan In 2022
Homepoint Sells Its Wholesale Business To The Loan Store
Rising Property Taxes Adding To Homeowner Stress
Investors Are Pulling Back From The Mortgage Market
A “Big Short” Investor Sees A Climate-Related Housing Catastrophe Ahead
Mortgage Apps Fall Despite Retreating Rates, Spring Buying Season Kick-Off
Homeowners Face Rising Insurance In 2023
Homebridge Financial Laying Off 139 In June
Americans Aren’t Confident They Can Weather Recession
“Zoom Towns” Face New Crisis: Layoffs
Rents, Mortgage Payments Up Most In Sun Belt Cities
Banking System Instability Prelude To Recession
Anxiety Strikes The Mortgage-Debt Industry
“Financial Trap:” Cash-Out Refis Causing Long-Term Harm
Americans Priced Out Of U.S. Cities Flee To Europe
“Abysmal” Q4 Results For IMBS
Will The Fed Raise Rates Or Pause?
Western Markets Brace For SVB Fallout
Impac Mortgage Going Broker, Winding Down TPO
Rates Move Up After Bleak News From Fed
Housing Sentiment Sinks Closer To All-Time Low
Rocket, UWM Have Shed “Thousands” Of Jobs Since Downturn
U.S. Housing Market Sentiment “Crumbling”
Million Dollar Homes Disappearing As Price Decline
CitiGroup Layoffs Impact Mortgage Lending Arm
Majestic Home Loans Permanently Banned By CFPB
Another Wave Of Wells Fargo Layoffs
Surprise Early Economic Boost Not Expected To Last Thru 2023
Existing Home Sales Down For 12th Month
Celebrity Home Loan Cuts 92% Of Staff
Bad News For The Fed: Retail Sales Surged In January
“Hundreds” Of Corporate Workers Laid Off At Celebrity Home Loans
Inflation Rose By More Than Expected In January
Higher Mortgage Rates Necessary To Cool Inflation, One Analyst Says
Consumer Confidence Up But Buyers Have “Lingering Concerns”
JP Morgan Cuts “Hundreds” More Jobs
Homepoint Conducts More Layoffs
Majestic Home Loan “Abruptly” Closes
47,000 Mortgage Jobs Cut In January 2023, Huge Leap From December’s 2,500
USAA Slashes 130 Positions In Mortgage Unit
Market Remains Slow Despite Slipping Rates
“Dents In The Armor:” Equity Slipping As Property Values Fall
Homebuilders Forced To Offer “Aggressive” Rate Buydowns To Attract Buyers
First Internet Bank Pulling Out Of Consumer Lending
Online Lender Upstart Lays Offs 20% Of Staff
NYCB’s Restructuring Leads To Flagstar Slash
Lawsuit Claims Amerisave Defamed Employees, Failed To Pay Wages
Flagstar Bank Scrapping Retail Mortgage Division
Umpqua Bank Announces More Layoffs
Silver Hill Funding On Fourth Round Of Layoffs
Rocket Mortgage Lays Off 50
Industry Leaders Say Market Facing “One Of The Most Significant Downturns In Decades”
Existing Home Sales Tumble For 11th Month, All Regions See YOY Declines
Another Round Of Layoffs At Finance Of America, 43 Impacted
nCino Lets 7% Of Workforce Go
Sellers Feel Pain Of Price Drops
Homes Selling At Slowest Pace Since April 2020
“Bleak” Mortgage Market Heightens Potential For More Layoffs
Fargo Shrinking Lending Business
Wells Fargo Earnings Down 50% YOY
Blend Labs Cuts 30% Of Staff, Fourth Round Of Layoffs This Year
North American Savings Bank Shutters Consumer Direct Division
Anywhere Real Estate Imposes Layoffs, Closes iBuying Arm
Rocket Restructuring Marketing Team
Goldman Sachs Laying Off 3,200 This Week, Mostly In Investment Arm
AmeriFirst Financial Shutting Down After 35 Years
Silvergate Capital Lays Off 40% Of Workforce
Compass Is Eliminating More Jobs as US Housing Market Slows
A five percent decline from 2022 as housing market continues to cool
Economic ‘Category 5 Storm’ Brewing in 2023
Q3 GDP Growth Means Fed Is Losing Inflation Fight
Home Sales See Biggest YOY Drop On Record
Interfirst Lays Off Another 75
Amerifirst To Close Portage Location In 2023
Starts, Permits Down For Third Consecutive Month
Builder Confidence Down For 12th Straight Month
Reverse Mortgage Funding Lays Off Another 119 In Long Island
“Don’t Call It A Comeback”: Demand, Purchase Apps Still Way Down
Home Flipping Profit Margins Hit 13-YR Low, Fastest Drop Since 2009
Builders Offering “Sweetheart” Deals To Wall Street, Hoping To Move Stagnant Homes
Inflation Cooling But Housing Costs Still Up 7% YOY
Purchase Locks Down 22% In November
Homeowner Equity Gains Drop Sharply In Q3
Market Reset To Push Prices Down 10%
Retirees To Delay Selling Home In 2023, First-Timers Expect To Make Sacrifices For Affordability
Housing Sentiment Remains Near All-Time Low; Consumers Cite High Rates
Price Appreciation Now Half Of April Peak
8% Of Homes Bought In 2022 Underwater
Mortgage Jobs Fall To Two-Year Low
Wells Fargo Cuts “Hundreds” More Jobs
Inlanta Mortgage Goes Bankrupt, Plans Layoffs (Update: Acquired By Guild)
Pending Home Sales Fall In “Difficult Month” Of October, Continuing Downward Spiral
Reverse Mortgage Funding Files For Bankruptcy, 400 Employees To Lose Jobs
Envoy Mortgage Lets Go Of 30% Of Corporate Staff
New Listings Poised To Tank Home Prices
“Vast Majority” Of Lenders To Be Hit With Massive Price Bump For Credit Reports
Affordability Hit As Real Prices Jump 60% YOY
Median Payments Jump 3.7% MoM, Another Sign Of “Weaking Affordability”
Originations Plummet Nearly 50% YOY
American Financing Axes 63% of Workforce
PenFed Lays Off 200-600 Lending Employees Across Multiple States
“Only The Strong:” Lenders Hope They Can Weather The Storm
Bleak Outlook For Housing In 2023, No End To Lock Declines
Housing Slowdown To Be The Worst Since 2000
Americans Say Now Is The Worst Time To Buy A Home Since 1978
More Better Layoffs, Exact Number Unknown
Affordability At A 10-Year Low
Economist Says Layoffs To Get Far Worse
loanDepot Originations Down $6B In Q3, Expects Just $7B Total In Q4
NewRez Layoffs Total 24 For Now, Expected To Rise Significantly
New American Cuts 240 Employees
Non-QM Lender Athas Capital Shutting Down
Equity Sees Largest Quarterly Drop On Record “By Far” In Q3
Consumer Confidence In Housing Market Falls To New All-Time Low
Nutter Home Loans Closing, Expects To Sell Off Loans In 60 Days
800 More Layoffs At Mr. Cooper
Promontory MortgagePath Closing
Powell Promises “Ongoing” Rate Hikes, Approves Another 75 BPS Jump