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…
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…
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…
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…
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…
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…
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…
Good Morning! Today is Wednesday, July 12. Regulators fined Bank of America $150 million over junk fees. A storm dumped two months’ worth of rain on Vermont, resulting in hazardous flooding. Arizona had its 11th straight day of 110-degree temperatures. The Iowa Senate approved legislation that would ban abortions after six weeks.
The Mortgage Note Reports
Helping Homeowners: A new proposal is being offered by the Federal Housing Administration, so borrowers have a potentially more effective option to avoid foreclosure. Writer Nicole Murray has the story.
A Minor Rebound: Mortgage applications increased slightly thanks to a bump in FHA and VA loan activity, but with rates once again breaching 7%, the future looks tough.
Disability Assistance: As Americans with disabilities…
Good Morning! Today is Tuesday, July 11. Turkey said it would support Sweden’s bid to join NATO, clearing the way for the country to join the alliance. NATO leaders are meeting today in Lithuania. A landslide destroyed a dozen homes in Palos Verdes, CA, and parts of Vermont are experiencing flooding from unprecedented rainfall.
The Mortgage Note Reports
Future Homebuyers: American homebuyers are getting older and industry leaders are preparing to welcome more Hispanic homeowners in the coming decades. Writer Erin Flynn Jay has the story.
Rate Lock Gains: Mortgage originations saw a boost in June, but further improvement hinges on the Federal Reserve’s next move.
Power Couple: Software company Hawthorn River is teaming up with fintech BeSmartee to integrate…
Good Morning! Today is Monday, July 10. President Biden met with British Prime Minister Rishi Sunak and King Charles while in Europe for a NATO summit. Pope Francis announced that he would choose 21 new cardinals in September, picking clerics from across the world. Heavy rain flooded the Hudson Valley, killing at least one person.
The Mortgage Note Reports
Home Prices Soar: Competition has returned full force to the housing market as demand for limited inventory pushed home prices up, especially in the West.
Agency Team-Up: NewDay USA announced a partnership with full-service marketing agency Moburst, which will spearhead its digital marketing efforts.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click…
