Mr. Cooper foretold of layoffs in a recent SEC filing...

An ominous sign: Agency issuance over the first five months of 2022 totaled $921.38 million, down 44.0% from the same period last year.

The rapid increase in interest rates seen in the first quarter took a big bite out of income from production and helped to goose servicing earnings. And while a downturn in originations was expected this year, it could be worse than expected.

Word is spreading that CrossCountry Mortgage of Brecksville, OH, is in the hunt to buy other lenders. As for who, that’s a different matter.

Requiring homebuyers and sellers to each pay their own agent’s fee would dramatically increase the upfront cash needed to buy a home.

Usage of Freddie Mac’s Loan Prospector is largely confined to mortgages that will be delivered to the GSEs while usage of Fannie Mae’s Desktop Underwriter is more widespread in the mortgage market.

Renters are finding it more challenging to become homeowners as increasing rents eat into downpayment funds and rising interest rates push homes further out of reach.

Higher interest rates didn’t have much of an impact on home price appreciation in March; Freddie Mac launched new automated underwriting capabilities; Fitch shifts its outlook for ratings of Finance of America Companies to negative; MISMO remains busy.

The peak in prices could be over, for now...

The problem: Housing inventories have crumbled compared to years past...