Morning Roundup (2/8/2023) — Loan Apps Get A Boost

Good Morning! Today is Wednesday, February 8. In his State of the Union address, President Biden spent the most time discussing the economy, followed by infrastructure, policing, and taxes. The death toll in Turkey and Syria from a set of earthquakes passed 11,000. Microsoft is incorporating an A.I. chatbot into its search engine, beating Google. The Mortgage Note Reports Loan Apps Get A Boost: Both purchase applications and refis saw increases as rates fell for a fifth consecutive week. Rent Cooldown: Millennials and Zoomers are seeing their personal inflation rates cool as rents moderate, giving them access to more of their paychecks. TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here …

Morning Roundup (2/7/2023) — Rocket Using “Bully Shield” Against UWM Ultimatum

Good Morning! Today is Tuesday, February 7. President Biden will deliver the State of the Union address tonight. The death toll from the earthquake in Turkey and Syria has now exceeded 5,000. A single Powerball ticket won $754.6 million in Washington state. The Mortgage Note Reports “Bully Shield”: The executive vice president of Rocket Pro TPO told brokers across the country on Monday that they are willing to indemnify those who chose to fight United Wholesale Mortgage’s ultimatum. Editor Kimberley Haas has the story. UWM CFO: Andrew Hubacker has been named Chief Financial Officer at United Wholesale Mortgage. Assuming A Mortgage: Carrington Mortgage Services added assumable mortgages to its services, saying qualified buyers could see “significant” savings. TMN Presents: The…

Morning Roundup (2/6/2023) — Is A Buyer’s Market Imminent?

Good Morning! Today is Monday, February 6. A U.S. Air Force fighter shot down a Chinese surveillance balloon that had reached South Carolina. More than 2,000 people were killed and thousands injured when an earthquake of magnitude 7.8 struck central Turkey and northwest Syria. A raid by the Israeli Army in the West Bank killed at least five Palestinians. Beyoncé broke the record for most Grammy wins by an artist. The Mortgage Note Reports Buyer’s Market?: As the average mortgage rates decline and markets slow in parts of the country that were red-hot during the pandemic, we at The Mortgage Note decided to ask who is currently in favor during negotiations – the buyer or the seller? Writer Chuck Green …

Morning Roundup (2/3/2023) — Rates Continue Downward March

Good Morning! Today is Friday, February 3. The Pentagon says it has detected what appears to be a Chinese spy balloon hovering over Montana. Wind chills could reach minus 50 degrees Fahrenheit in New England this weekend. EzriCare Artificial Tears is being recalled after health officials linked it to a bacteria strain that has caused vision loss and at least one death. The Mortgage Note Reports Rates Continue Downward March: The 30-year fixed rate fell again this week to 6.09% as the Federal Reserve cooled its rate hikes. Illgen at MCLP: Mortgage Connect LP has hired Allen Illgen as National Sales Executive, Originations. Listen To Our Podcast: This podcast highlights the successes and innovations taking place in the mortgage industry.…

Morning Roundup (2/2/2023) — War On Inflation

Good Morning! Today is Thursday, February 2. The U.S. will increase its military presence in the Philippines in case of a conflict with China. The Biden administration cleared the way for an oil drilling project in Alaska. The College Board revised its A.P. African American studies course after Florida banned it from public high schools. Pennsylvania’s groundhog Punxsutawney Phil awoke this morning to see his shadow, meaning there will be six more weeks of winter. The Mortgage Note Reports War On Inflation: Federal Reserve Chair Jerome Powell said that the fight against inflation isn’t over and he does not see them cutting rates this year. But that might not be bad news for mortgage interest rates. Editor Kimberley Haas has…

Morning Roundup (2/1/2023) — Loan Apps Reverse Course

Good Morning! Today is Wednesday, February 1. Florida Gov. Ron DeSantis proposed to overhaul Florida’s higher education system. The Justice Department charged four men in the U.S. with involvement in the 2021 assassination of Haiti’s president. The Fed is having its first meeting of 2023 today and is expected to raise rates by a quarter point. The Mortgage Note Reports Apps Reverse Course: Mortgage loan application volume slipped last week after trending up, suggesting the market is still struggling to recover despite retreating rates. Rocket Integration: Fourth Capital Bank will now offer Rocket Mortgage’s digital mortgage application using a new platform developed by Q2 Software. Listen To Our Podcast: This podcast highlights the successes and innovations taking place in the…

Morning Roundup (1/31/2023) — Migration Trends

Good Morning! Today is Tuesday, January 31. The Biden administration plans to end the coronavirus public health emergency in May. The Memphis Police Department suspended two more officers in connection with Tyre Nichols’s death. A suicide bombing at a mosque in Pakistan killed at least 87 people. The Mortgage Note Reports Master Class: Editor Kimberley Haas sat down with Cindi Bulla, owner and broker at Realty Central Services in Texas, to talk about what she is seeing in her area, how zoning conversations are pulling people together to solve problems, and to offer her advice for buyers and sellers dealing with the current housing market. Migration Trends: Despite the insanity of the pandemic homebuying frenzy, Americans are actually moving less…

Morning Roundup (1/30/2023) —MMI, Cenlar Leadership Changes

Good Morning! Today is Monday, January 30. Ukraine is asking for fighter jets and for its allies to speed up weapons deliveries. Israel attacked an Iranian military facility in a city known for making missiles. A man in a ski mask threw a lit Molotov cocktail at a New Jersey synagogue. The Mortgage Note Reports MMI Hire: Top Of Mind’s Carol Burke has been appointed regional director of enterprise sales at Mobility Market Intelligence. Daras Makes CEO: D. James “Jim” Daras has been named CEO and President of Cenlar FSB, the country’s second-largest mortgage servicer and largest subservicer. Opinion: Scott Olson of Community Lenders of America says it is time to strengthen the Ginnie Mae PTAP Program. Listen To Our…

Morning Roundup (1/27/2023) — Pending Sales Rise, Break Downward Streak

Good Morning! Today is Friday, January 27. Five fired Memphis police officers were charged with murder in the death of Tyre Nichols, a Black man. China is arresting people who joined protests against the government’s zero-Covid policy. Former Detroit Lions and Los Angeles Chargers linebacker Jessie Lemonier died at age 25. The Mortgage Note Reports Rates Cool A Bit: The 30-year fixed rate slipped slightly again last week to 6.13%, prompting some pent-up buyers to lock in a purchase. Pending Sales Break Spiral: Pending home sales rose for the first time since May, with two of the four major regions seeing month-over-month gains. Protecting Tenants And The Homeless: The Biden-Harris administration announced new actions to protect renters this week and…

Morning Roundup (1/26/2023) — Seller Profits Rise Above 50%

Good Morning! Today is Thursday, January 26. Donald Trump will regain access to his suspended Facebook and Instagram accounts. A drugmaker filed a lawsuit in federal court to challenge West Virginia’s ban on abortion pills. The Biden administration formally announced that it will provide 31 M1 Abrams tanks to Ukraine. The Mortgage Note Reports Remote Compliance: Leaders at ActiveComply say their new digital service helps companies in highly regulated industries stay compliant when using remote workers. Editor Kimberley Haas has the story. Seller Profits Rise: Home seller return on investment rose to 51% at the end of 2022 despite slowing sales and moderating prices. One Day Mortgage?: Better.com says its customers can now get pre-approved, lock their rate, and get…