Good Morning! Today is Tuesday, May 16. President Biden and Speaker Kevin McCarthy are meeting today to try to strike a debt limit deal. An assailant with a baseball bat attacked two aides to a Democratic congressman in Virginia. A gunman killed three people on a residential street in New Mexico before being killed by police.
The Mortgage Note Reports
Digital Closings: The founder and CEO of the digital closing platform Snapdocs says adopting a technology strategy that reduces costs can help mortgage lenders now and as the market bounces back. Editor Kimberley Haas recently sat down with Aaron King.
Chenoa Rebrand: CBC Mortgage Agency is celebrating its 10-year anniversary by rebranding its correspondent investor and Chenoa Fund Program.
New…
Good Morning! Today is Monday, May 15. The Turkish elections will go to a runoff after President Recep Tayyip Erdogan failed to secure a majority of the vote. Millions of people are under a heat advisory in the Pacific Northwest. Vice Media filed for bankruptcy.
The Mortgage Note Reports
Commercial Outlook Bleak: The MBA once again adjusted its commercial and multifamily outlook for 2023, pushing its expectations down by $9 billion.
Neighbors From Hell: Nearly 20% of Americans have moved because of an obnoxious neighbor, with Millennials and Zoomers most likely to pack up and go.
Prison Time: A former assistant inspector general for the U.S. Department of Housing and Urban Development has been sentenced to one year and one…
Good Morning! Today is Friday, May 12. The F.D.A. ended its ban on blood donations from gay and bisexual men. Travelers to the U.S. no longer need to be vaccinated against Covid to enter the country. A Palestinian group and the Israeli military continue a three-day exchange of rocket and missile attacks across the Israel-Gaza border.
The Mortgage Note Reports
“Sideways” Rate Trend: Mortgage rates dipped again last week, continuing to fluctuate within the 6% range.
Fed “Made A Mistake”: NAR Chief Economist Lawrence Yun believes the latest quarter-point rate hike from the Fed was unnecessary, causing more harm than good.
ICYMI: This week, we had an article about the spring season in nontraditional markets, industry reactions to changes in…
Good Morning! Today is Thursday, May 11. The Covid emergency ends today. FDA advisers voted unanimously in favor of selling birth-control pills over the counter for the first time. Representative George Santos, R-NY, was indicted on federal charges including wire fraud and money laundering.
The Mortgage Note Reports
Default Scenario: What happens to housing if the U.S. defaults on its debt?
DTI Goes Down: The FHFA has rescinded a rule changing upfront fees based on borrowers’ debt-to-income ratios, and industry leaders are applauding the move.
Aidium CEO: The CEO of Aidium Mortgage CRM says companies are investing in technology designed to streamline the mortgage loan origination process to improve efficiency and profitability. Editor Kimberley Haas has the story.
Spring Podcast: …
Good Morning! Today is Wednesday, May 10. A jury found Donald Trump liable for the sexual abuse and defamation of magazine writer E. Jean Carroll. President Biden and Speaker Kevin McCarthy did not reach a consensus over the debt ceiling but agreed to meet again. Former Fox News host Tucker Carlson said he would start a show on Twitter.
The Mortgage Note Reports
Fee Changes: Industry leaders and economists are sharing their opinions about changes to fees for loans backed by Fannie Mae and Freddie Mac after reports that homebuyers with good credit scores and substantial down payments will pay more so fees for borrowers limited by income or wealth can be reduced. Writer Chuck Green has the story.
Prices…
Good Morning! Today is Tuesday, May 9. The Texas House advanced a bill to raise the minimum age to buy assault weapons. Wildfires in Western Canada have burned nearly 1 million acres in a week. Phoenix officials say they will clear a homeless encampment where 1,100 people sleep unsheltered each night.
The Mortgage Note Reports
Buy Or Rent?: The choice between renting and buying is obvious in some American cities, but in others, the difference in cost is razor-thin.
Polly’s C-Suite: Cheryl Messner has been named Chief Customer Officer at Polly.
Opinion: Stephen L. Miller comments on “the courtside theatrics of Phoenix Suns owner and sports thespian Mat Ishbia” after Sunday night’s game.
Spring Podcast: TMN’s team has been tracking…
Good Morning! Today is Monday, May 8. Britain’s King Charles III was crowned on Saturday. A gunman killed eight people at a mall in Texas, and a driver plowed into a crowd of migrants near the Texas border, killing at least another eight. Biden is meeting with Speaker Kevin McCarthy this week to try to end the debt ceiling standoff.
The Mortgage Note Reports
Flipping The Narrative: Tradition dictates that April and May are the hottest months for the housing market, but there are unique opportunities in parts of the country where that isn’t necessarily the case. Chuck Green has the story.
Optimistic Outlook: Consumers are more optimistic that the housing market will turn in their favor in the coming…
Good Morning! Today is Friday, May 5. Four members of the Proud Boys were convicted of sedition for leading a violent mob on the Capitol. North Carolina passed a 12-week abortion ban, but its governor plans to veto it. A jury found that Ed Sheeran’s 2014 “Thinking Out Loud” did not copy Marvin Gaye’s “Let’s Get It On.”
The Mortgage Note Reports
Rates Dip: Mortgage rates fell last week, averaging 6.39%, after Jerome Powell’s suggestion that a pause in rate hikes may be coming.
Besting Expectations: Rocket Companies had a better first quarter than many analysts feared, losing less than expected.
ICYMI: This week, TMN had articles about marijuana’s impact on the rental market, the Fed raising interest rates at…
Good Morning! Today is Wednesday, May 3. Biden is sending 1,500 troops to the southern border to manage a possible migration surge. A judge rejected a transgender lawmaker’s effort to return to the Montana House Floor after Republicans barred her. Police said they have captured a man who shot and killed five neighbors in Texas.
The Mortgage Note Reports
The Current Facts: Two bills have been put forward by lawmakers to block the FHA’s loan level pricing adjustments. Here’s what we know.
Applications Take A Hit: Mortgage applications fell last week even as rates dipped for the first time in three weeks.
Zeller At Veros: Heather Zeller has joined mortgage tech company Veros Software as Vice President of Marketing.
Spring…
Good Morning! Today is Tuesday, May 2. The FOMC begins its two-day meeting today. To prevent future bank runs, the F.D.I.C. proposed protecting larger deposits than it now does. Thousands of movie and TV writers went on strike, halting many productions.
The Mortgage Note Reports
The Marijuana Question: Marijuana legalization is a hot topic affecting many areas of society, including housing. Bertha Garrett explains how it’s shaping the rental market.
Spring Update Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers. Check out our spring podcast for the latest.
New Motto Debut: Motto Mortgage Luxe Group opened in Houston, TX, headed by industry pros Angela Martin and Toi Parnell.
Price Gains Shrink: …
