Morning Roundup (3/18/2024) — Landmark NAR Deal

Good Morning! Today is Monday, March 18. Vladimir Putin won another six-year term in the Russian elections. Elon Musk released the computer code behind his version of an A.I. chatbot, Grok. American sailors and pilots are fighting the Houthis in the Red Sea. The Mortgage Note Reports Don’t Be Disappointed: The Feds are not expected to drop rates this week, and that may be the case for some time. Writer Patrick Lavery has the story. Look Back: Earnings for the fourth quarter of 2023 and the year total are out. Here’s a snapshot of how some of the nation’s top lenders handled last winter. Leadership Moves: Mortgage industry marketing veteran Sara Holtz has joined Optimal Blue as its Chief Marketing…

Morning Roundup (3/15/2024) — Coastal Homes At Risk

Good Morning! Today is Friday, March 15. The federal judge overseeing Trump’s classified documents trial rejected an effort to dismiss the case. Kamala Harris visited a Planned Parenthood clinic in Minnesota. SpaceX’s Starship broke down when re-entering Earth’s atmosphere. The Mortgage Note Reports “No Day At The Beach”: Coastal homes are at risk from severe flood damage due to sea level rise and changing storm patterns. Reporter Chuck Green has the story. Rates Move Down: Buyers lucked out last week as rates continued to decline, hitting 6.74% and cooling the cost of purchasing a home. New Savings: Digital tool provider Floify introduced a sidekick to its popular platform that includes a flexible per-loan pricing option. In other mortgage and housing…

Morning Roundup (3/14/2024) — One-Time Close, Tribuna At AH

Good Morning! Today is Thursday, March 14. The House passed a bipartisan bill that would force TikTok’s Chinese owner to sell the app or face a ban. Family Dollar will close about 1,000 stores. A powerful storm is dumping snow on Colorado, with two to four feet forecast in some areas. The Mortgage Note Reports One-Time Close: Wholesale and correspondent lender Click n’ Close launched a new mortgage product designed for homebuyers in rural America. Tribuna At AH: Affordable lending veteran Mark Tribuna has been named Chief Operations Officer at Arrive Home. In other mortgage and housing news…   Earnings Report: Guild reported originations at $15 billion in 2023, including $3.5 billion in Q4. Affordability Woes: The median monthly housing…

Morning Roundup (3/13/2024) — Refinance Moment

Good Morning! Today is Wednesday, March 13. Biden and Trump swept yesterday’s primary elections. Airbnb will ban the use of indoor security cameras. The U.S. will send Ukraine up to $300 million in weapons. The Mortgage Note Reports Refi’s Moment To Shine: Mortgage applications increased for a second week as rates retreated from 7%, giving refinances a boost. Historic Moment: Snapdocs and Fairway Independent Mortgage recently completed the largest eNote migration in mortgage history. Minimizing Delinquencies: The president of Cornerstone Servicing says they are prepared to help lenders as inflation and the rising costs associated with ownership put financial pressure on Americans, leading to potential defaults in the second half of the year. In other mortgage and housing news…  …

Morning Roundup (3/12/2024) — Fudge Out At HUD

Good Morning! Today is Tuesday, March 12. Biden’s budget includes plans to tax the rich to fund social services but is not expected to pass in the House. Zimbabwe expelled U.S. officials, accusing them of promoting “regime change.” An audit found dozens of problems in the manufacture of Boeing’s 737 Max. The Mortgage Note Reports One-On-One: The CEO of Dark Matter Technologies says they remain focused on streamlining processes for their clients as they work to revolutionize the mortgage industry. Rich Gagliano recently sat down with Editor Kimberley Haas to talk about it. Fudge Out At HUD: HUD secretary Marcia Fudge resigned due to family circumstances and will be replaced by Deputy Secretary Adrianne Todman. Willing To Go Higher: Gen…

Morning Roundup (3/11/2024) — Cash Crunch

Good Morning! Today is Monday, March 11, the first day of Ramadan. President Biden will propose his 2025 fiscal budget today, though it is not expected to become law. Virginia will end legacy admissions at public universities. At the Oscars, Oppenheimer won Best Picture. The Mortgage Note Reports Cash Crunch: How much should buyers put down on a home if they want to compete in today’s market? Writer Erin Flynn Jay talked to industry leaders to find out. Spring Has Sprung: Mortgage purchase locks increased at the start of the spring homebuying season despite ongoing challenges, setting the stage for more activity. Election Impact: More than half of Americans, both homeowners and renters, will partly base their choice for President…

Morning Roundup (3/8/2024) — State Of Housing

Good Morning! Today is Friday, March 8. President Biden gave a “fiery” State of the Union address to a raucous Congress. Sweden formally joined NATO. High school students will take a fully digital SAT this weekend for the first time. The Mortgage Note Reports State Of Housing: President Biden proposed new housing initiatives in Thursday’s State of the Union address, including relief for both buyers and sellers. Rate Improvements: Mortgage rates broke a month-long upward streak, deflating for the first time in weeks and resulting in a purchase demand boost. Woman To Woman: As Women’s History Month is celebrated this March, we asked leaders in the industry and related fields to share their advice with others. Here’s what they said.…

Morning Roundup (3/7/2024) — Above Water

Good Morning! Today is Thursday, March 7. Mitch McConnell endorsed Donald Trump. Dean Phillips ended his campaign against Biden. Alabama passed legislation to protect I.V.F., moving away from a controversial ruling by its state Supreme Court. The Mortgage Note Reports Above Water: The number of underwater homes in the U.S. dropped in Q4 2023 as home prices continued soaring, adding to the property wealth of American homeowners. Update Alert: Fannie Mae announced enhancements to its Desktop Underwriter to streamline originations for lenders and buyers. In other mortgage and housing news…   Fed Update: Jerome Powell testified that the central bank is in no rush to cut interest rates until inflation moves closer to 2% but expects cuts “at some point…

Morning Roundup (3/6/2024) — Apps Turn Up

Good Morning! Today is Wednesday, March 6. Nikki Haley is expected to drop out of the race for president. Arizona senator Kyrsten Sinema won’t seek re-election. Facebook and Instagram went through a global outage for about two hours yesterday. The Mortgage Note Reports Apps Turn Up: Mortgage applications were back after a stretch of declines, increasing across the board last week. Carrington Leadership: Bruce Rose, founder and CEO of Carrington Companies, is transitioning out of that role and will be succeeded by company veteran Andrew Taffet. Climate Risks: The president of Rutledge Claims Management says the hazard insurance industry faces critical challenges in assessing and pricing climate risks, which directly impacts the vulnerability of mortgages. Sharing Is Caring: Do you…

Morning Roundup (3/5/2024) — Nonstop Hustle

Good Morning! Today is Tuesday, March 5. It’s Super Tuesday, and voters are turning out to cast their ballots in the presidential primary. The Supreme Court ruled that states lack the authority to reject presidential candidates on the grounds they engaged in insurrection against the U.S. Airlines JetBlue and Spirit called off their merger after regulators blocked it in court. The Mortgage Note Reports Nonstop Hustle: The CEO of Rapid Home Loans says to succeed in the current landscape, mortgage professionals need to know how to make the most of every opportunity. Affordable Listings: The share of available homes in the $200,000 to $350,000 price range saw the biggest growth of any price category in February, up 20.6% YOY. Worst…