Lenders point to cost-cutting as their top business priority amid the mortgage industry facing a number of challenges – including high home prices, tight inventory of homes available for sale and interest rate hikes.

About 35% of the 253 mortgage executives that responded to Fannie Mae’s mortgage lender sentiment survey (MLSS) said cost cutting was overall the most important factor in their business operations – ranking first for the second year in a row. 

There’s still overcapacity in the market and as part of lenders cutting costs, Fannie Mae expects more layoffs in details ⇒

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