Morning Roundup (12/1/2023) — Year-End Incentives

Good Morning! Today is Friday, December 1. The House will vote today on whether to expel Representative George Santos. Israel resumed its bombardment of Gaza. Sandra Day O’Connor, the first female Supreme Court justice, died at 93. The Mortgage Note Reports Year-End Incentives: Rocket Pro TPO is kicking off its annual December to Remember event and the executive vice president says it will mean more for mortgage professionals this year than ever before. Editor Kimberley Haas has the story. Rates Down Again: Mortgage rates slipped for a fifth consecutive week to 7.22%, signaling the possibility of more competition in a “market starved for inventory.” FCM Exec: Jeff Pancer joined First Community Mortgage as EVP of Capital Markets. In other mortgage…

Morning Roundup (11/30/2023) — Lending Sinks In Q3

Good Morning! Today is Thursday, November 30. Tesla’s Cybertruck will officially launch at 3 pm ET. Henry Kissinger died at 100 years old. Apple said will improve texting with Android phones. The Mortgage Note Reports Lending Sinks: Originations fell by 3% in Q3 thanks to weakness in purchase and home equity lending, reversing a Q2 spike and marking the ninth decline in ten quarters. Pending Sales Down: Pending home sales sank to their lowest level in 20 years last month, piling on more tough news for the housing market. Opinion: Scott Olson, executive director of the Community Home Lenders of America, says they are renewing their longstanding call for all mortgage loan originators to be licensed after Bank of America…

Morning Roundup (11/29/2023) — BOA

Good Morning! Today is Wednesday, November 29. The wife of Ukraine’s military intelligence chief was poisoned but is recovering in the hospital. A commercial plane crossed the Atlantic without using fossil fuels for the first time. Google will delete Gmail and YouTube accounts that have been idle for two years or more. The Mortgage Note Reports BOA Penalized: The second largest bank in the country will pay a $12 million penalty after it was found that hundreds of loan officers falsified forms about mortgage applicants. Applications Up: Mortgage applications rose for yet another week, though the increase was mild, inching up just 0.3% as refinances tanked. 2024 Predictions: Will 2024’s housing market be better? Experts expect to see the beginning…

Morning Roundup (11/28/2023) — Home Prices Hit Another Record

Good Morning! Today is Tuesday, November 28. Rosalynn Carter’s memorial service is today in Atlanta. New Zealand’s government said it will repeal a law banning cigarette sales. Hunter Biden agreed to testify before the House Oversight Committee on Dec. 13. The Mortgage Note Reports Case-Shiller Index: Home prices hit another record high this fall as stock shortages spurred competition for well-priced homes. Ascent Buys VA: Ascent Software Group, the appraisal software company behind end-to-end suite Jaro, has acquired tech developer Value Acceptance. Data Beats: Leaders at Tavant say they are using generative AI to redefine the financial services landscape. Editor Kimberley Haas has the story. In other mortgage and housing news… New HPI: Redfin introduced its own Home Price Index,…

Morning Roundup (11/27/2023) — A Gift Won’t Cut It

Good Morning! Today is Monday, November 27. Hamas released an American child along with 16 other hostages. President Biden will skip the U.N. climate summit in Dubai this week. Teachers in Portland, OR, reached a tentative union deal, ending their strike. The Mortgage Note Reports A Gift Won’t Cut It: Holiday marketing plans need to maximize connections, but how can professionals do that during one of the most chaotic times of the year? Writer Nicole Murray spoke to industry leaders to get the information you need to know. New Home Sales: New home sales sank in October to a seasonally adjusted annual rate of 679,000, below analysts’ predictions of 730,000. Dodd At Floify: Mortgage POS company Floify hired industry expert…

Morning Roundup (11/16/2023) — Customer Satisfaction Up

Good Morning! Today is Thursday, November 16. Rescue workers renewed efforts to reach 40 men trapped inside a tunnel in India. Xi Jinping said China might send pandas to U.S. zoos. Thousands of Starbucks workers plan to walk out today over contract negotiations.   The Mortgage Note Reports Customer Satisfaction: Mortgage lenders who pivoted to borrower-centric approaches in the last year saw customer satisfaction soar despite high rates. Lock It, List It: Guaranteed Rate launched a new program letting sellers pay a fee and lock in a discounted rate to advertise to buyers. New Name: SimpleNexus has officially rebranded as nCino’s Mortgage Suite and company leaders say customers can benefit from a more diverse and financially stable company. In other…

Morning Roundup (11/15/2023) — Loss Mitigation Works

Good Morning! Today is Wednesday, November 15. The House passed a bill to extend government funding into next year. President Biden and China’s Xi Jinping are meeting today. A cargo plane was forced to return to JFK Airport after a horse onboard got loose.   The Mortgage Note Reports Loss Mitigation Works: Distressed homeowners who get behind on their mortgage bills are avoiding foreclosure. Editor Kimberley Haas has the story. Application Boost: Mortgage applications jumped by 3% last week as buyers took advantage of lower rates. GSE Leadership: Fannie Mae President David Benson is retiring in 2024, while Chief Administration Officer Jeffery Hayward will step down at the end of this year. In other mortgage and housing news… Another Loss: …

Morning Roundup (11/14/2023) — Buy Then Sell

Good Morning! Today is Tuesday, November 14. The U.N. said its fuel reserves in Gaza could run out as soon as today. The Supreme Court adopted an ethics code for its nine justices after some took undisclosed gifts and property deals. Donald Trump called his political opponents “vermin” and threatened to “crush” them if elected again.   The Mortgage Note Reports Buy Then Sell: Non-QM wholesaler LendSure Mortgage introduced a new reverse 1031 exchange product with a bridge loan for investors. CV3 C-Suite: CV3 Financial named Robert Callaway its new CFO, while Ken Jacobson will serve as SVP, Capital Markets. In other mortgage and housing news… Appraisal Rule: The CFPB said the 2024 threshold for higher-priced mortgage loans subject to…

Morning Roundup (11/13/2023) — Rocket Embraces AI

Good Morning! Today is Monday, November 13. The United States attacked armed groups in Syria. Senator Tim Scott suspended his campaign for the 2024 Republican nomination. The FBI is investigating whether NYC Mayor Eric Adams pressured officials to sign off on a new Turkish consulate despite safety concerns.   The Mortgage Note Reports Artificial Intelligence: Rocket is embracing AI and leaders there say it will be a game changer in the lending industry. CIO Brian Woodring recently sat down with Editor Kimberley Haas to talk about the technology they’re developing. Simplify The System: In an opinion piece, Rob Zimmer, head of external affairs at the Community Home Lenders of America, argues it is time to streamline the CSBS state exam…

Morning Roundup (11/10/2023) — Earnings Snapshot

Good Morning! Today is Friday, November 10. Senator Joe Manchin (D-WV) won’t seek re-election next year. Government funding is once again set to lapse next week. The Vatican said transgender people could be baptized and become godparents.   The Mortgage Note Reports Earnings Snapshot: Earnings for the third quarter of 2023 are out. Here’s a snapshot of how some of the nation’s top lenders fared during this difficult summer. Rates Down: Mortgage rates sank by a quarter point, the largest single-week decline since last November, as treasury yields slipped. Commercial Property: With vacancy levels at a 30-year high nationally, the city of Atlanta is holding its own as company leaders and commercial property owners there are rethinking the modern workplace.…