Morning Roundup (7/27/2023) — Alternatives To FICO

Good Morning! Today is Thursday, July 27. Russia and China sent delegations to North Korea this week. Senate Minority Leader Mitch McConnell, 81, is using a wheelchair to navigate crowded airports after a recent fall. Singer-songwriter Sinead O’Connor has died at the age of 56. The Mortgage Note Reports Listen In: Editor Kimberley Haas sat down with FreeForm’s Christy Moss to talk about alternatives to the traditional FICO score. When Will It End? Rates were hiked again by the Federal Reserve as officials continue to battle inflation. Writer Patrick Lavery has the story. TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape. In…

Morning Roundup (7/25/2023) — Applications Dip Again

Good Morning! Today is Wednesday, July 26. All eyes are on the Federal Reserve as they are expected to raise interest rates by a quarter of a percentage point today. A federal judge struck down the Biden administration’s asylum policy. The Education Department opened a civil rights investigation into legacy admissions at Harvard. UPS reached a tentative deal with unionized workers, possibly averting a strike next week. The Mortgage Note Reports Application Activity Restrained: Mortgage applications decreased by 1.18% last week, wiping out a bump the week prior, as rates hovered near 7%. Clever Pro: Clever Real Estate announced a suite of integrated products for lenders to protect their purchase pipeline, increase conversations, and close more loans. TMN Presents: The…

Morning Roundup (7/25/2023) — Experts Weigh In

Good Morning! Today is Tuesday, July 25. Russian drones hit a Ukrainian town across the Danube River from Romania, striking close to a NATO country. The IRS will stop surprise visits to homes and businesses after a rise in threats to agents. Florida Gov. Ron DeSantis and members of his 2024 presidential campaign team were not injured in a car accident this morning in Tennessee. The Mortgage Note Reports Experts Weigh In: It is being speculated that once mortgage rates drop, there will be another surge in prices. Writer Erin Flynn Jay interviewed a number of industry leaders who say this is a real possibility. Home Prices: Data released today shows national home prices slipped year-over-year in May but continue…

Morning Roundup (7/24/2023) — Senate Passes Tribal Homeownership Act

Good Morning! Today is Monday, July 24. Elon Musk said he would replace Twitter’s bird logo with an X. Israeli lawmakers passed part of a plan to weaken its court system. “Barbie” and “Oppenheimer” outperformed sales expectations this weekend as moviegoers headed to theaters. The Mortgage Note Reports Digital Closing News: Snapdocs eClose and Notary Scheduling have teamed up, accelerating closing speed by at least 1.5 days through this “first-of-its-kind integration.” One-On-One: Todd Maki at Snapdocs recently sat down with editor Kimberley Haas to talk about their product and the role artificial intelligence plays in the process. Tribal Homeownership Act: The U.S. Senate has unanimously passed a bill designed to speed up and simplify the mortgage process for applications on…

Morning Roundup (7/21/2023) — FOMC Questions Linger

Good Morning! Today is Friday, July 21. The House passed legislation to improve air travel by hiring more air traffic controllers and modernizing airports. Minneapolis plans to loosen enforcement around psychedelic drugs. Singer Tony Bennett died at the age of 96. The Mortgage Note Reports Questions Linger: With the Fed’s next meeting less than a week away, could Chairman Jerome Powell be preparing to announce one of the rate hikes that he said in June might take place this year? Writer Patrick Lavery has the story. Rates Pull Back: Positive inflation data pushed mortgage rates down last week, dropping more than ten basis points to 6.78%. Taking Aim At Unfair Fees: HUD announced commitments by some of the biggest rental…

Morning Roundup (7/20/2023) — Company News

Good Morning! Today is Thursday, July 20. Russia is targeting Ukraine’s food exports, attacking port facilities in Odesa. Stanford’s president will resign after an investigation found falsified data in his past scientific research. Wesleyan University in Connecticut is ending its admission policy of preference for legacy students. The Mortgage Note Reports Chen At AHL: Simon Chen has been named president and CEO of buy-first lender Arrival Home Loans. Another AI: HomeZada has launched an AI Chat Assistant, Zada, that answers real estate and home management questions. TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape. In other mortgage and housing news… Life Left…

Morning Roundup (7/19/2023) — Castle Auction

Good Morning! Today is Wednesday, July 19. The temperature in Phoenix topped 110 degrees for a record 19th straight day. An Australian man was rescued with his dog after three months lost at sea. Former Secretary of State Henry Kissinger, who is 100 years old, made a surprise visit to Beijing. The Mortgage Note Reports Castle Auction: Bidding begins this week on a historic castle in Waco, Texas, that was renovated by “Fixer Upper” stars Chip and Joanna Gaines. Writer Nicole Murray has the story. Starts And Permits: U.S. homebuilding fell in June, but a bump in single-family permits offers a glimmer of hope for buyers eyeing new construction this year. Mixed Results: Mortgage applications increased again last week as…

Morning Roundup (7/18/2023) — Co-Buying Pros And Cons

Good Morning! Today is Tuesday, July 18. Canadian wildfires are again sending smoke into the northern and eastern parts of the country. A judge suspended Iowa’s abortion ban until courts decide whether it is constitutional. President Biden invited Benjamin Netanyahu, Israel’s prime minister, to the U.S. The Mortgage Note Reports Target Profit Control: Rocket Pro TPO has announced a new loan level pricing adjustment tool and their EVP says it is the result of listening to their partners’ feedback. Editor Kimberley Haas has the story. Pros And Cons: Co-buying has gained popularity as Americans search for ways to afford a home, but for all its benefits, it can also come at a cost. CMS Offerings: Carrington Mortgage Services expanded its…

Morning Roundup (7/14/2023) — Rates Near 7% Mark

Good Morning! Today is Friday, July 14. The Screen Actors Guild is joining the screenwriters’ strike today, the first time in 63 years the two groups have been on strike at the same time. The F.D.A. approved the first over-the-counter birth control medication in the U.S. Extreme heat killed at least 10 people in Laredo, TX. The Mortgage Note Reports Staying Strong: Buyers waiting on the sidelines for home prices to drop may be out of luck this year as prices are predicted to hold up into 2024. Editor Kimberley Haas has the story. Rates Rise: Interest rates closed in on the 7% mark last week, averaging 6.96% and pushing affordability further out of reach for many Americans. Fraser At…

Morning Roundup (7/13/2023) — Inflation Down

Good Morning! Today is Thursday, July 13. Chinese hackers broke into the email accounts of Commerce Secretary Gina Raimondo and other U.S. officials. Biden said NATO would support Ukraine through the war, no matter how long it took. A tornado touched down in Chicago, near O’Hare, forcing travelers to shelter in the airport. The Mortgage Note Reports Cracking Down: Democratic lawmakers introduced a bill this week that would restrict tax breaks for corporate investors that purchase large quantities of homes. Editor Kimberley Haas has the story. Inflation Slipped In June: Inflation cooled significantly in June, a win for the Fed and likely for homebuyers seeking lower rates, though the impact won’t be immediate. New SPCP: U.S. Bank announced a new…