Morning Roundup (6/29/2023) — Vets With High Hopes

Good Morning! Today is Thursday, June 29. The Supreme Court overturned affirmative action, saying colleges and universities can no longer take race into consideration for admissions. Violent protests erupted in French cities after the police shot a 17-year-old driver. More than 7,000 flights have been canceled or delayed due to strong storms. The Mortgage Note Reports Vets With High Hopes: Three-quarters of Veterans and service members feel like homeownership is within their reach and hope to buy in the next year. Market Insights: The EVP of Rocket Pro TPO says a lack of housing inventory has been hurting mortgage professionals but he is confident broker partners and loan officers have the tools to help homebuyers achieve their goals. Read and…

Morning Roundup (6/28/2023) — Apps Up

Good Morning! Today is Wednesday, June 28. Smoke from Canadian wildfires is once again impacting the Midwest. The remains of British actor Julian Sands were discovered in California. Pope Francis has accepted the resignation of the bishop of Knoxville, TN, who has been sued over his handling of sexual misconduct allegations. The Mortgage Note Reports Apps Up: Mortgage applications increased last week, with purchase applications reaching their highest level of activity since May, driven by sales of new homes. Reggora AI Offering: Reggora released a new AI solution for appraisal review that analyzes reports to identify key data points, inconsistencies, and potential red flags. TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. …

Morning Roundup (6/27/2023) — Mortgage Fees

Good Morning! Today is Tuesday, June 27. President Biden said the U.S. had “nothing to do with” the military revolt in Russia over the weekend. The shooter who killed five people at Club Q in Colorado Springs pleaded guilty and will serve life in prison. Prosecutors will seek the death penalty against the man accused of murdering four University of Idaho students in a home near campus. The Mortgage Note Reports Mortgage Fees: The U.S. House of Representatives has passed the Middle-Class Borrower Protection Act which would reverse recent changes to fees charged by Fannie Mae and Freddie Mac. Editor Kimberley Haas has the story. New Home Sales: New home sales jumped in May as homebuilders continue to experience a…

Morning Roundup (6/26/2023) — Office To Residential

Good Morning! Today is Monday, June 26. The head of the Wagner group ended a short-lived military rebellion this weekend by striking a deal to leave Russia in order to avoid criminal charges. Severe storms in Indiana killed at least one person on Sunday. Nearly 3,000 flights have been canceled due to the same system. The Mortgage Note Reports Office To Residential: Vacant offices could be the perfect fit for new apartments and condos, but industry leaders say there are a number of considerations to take into account with these projects. Editor Kimberley Haas has the story. Beyond Reach: Only half of Americans believe they’ll ever be able to own a home, now or ever in the future, a sign…

Morning Roundup (6/23/2023) — Existing Home Sales Up Slightly

Good Morning! Today is Friday, June 23. The missing Titanic tourist sub likely imploded, the Navy reported, and its occupants are presumed dead. The Supreme Court ruled against the Navajo Nation over access to Colorado River water. A record-setting heatwave is ongoing in Texas and is likely to spread to nearby states. The Mortgage Note Reports Barely Budging: Existing-home sales increased slightly in May, up 0.2%, just enough to put a positive spin on an otherwise difficult market. Rates Slip A Little: Mortgage rates fell to 6.67%, the third consecutive week of declines, but once again gave only an inch. ICYMI: Should mortgage professionals be back at the office? Writer Chuck Green explored that issue in this week’s most popular…

Morning Roundup (6/22/2023) — Rural Opportunity

Good Morning! Today is Thursday, June 22. The House voted to censure U.S. Rep. Adam Schiff for leading investigations into Donald Trump during his presidency. A federal judge sentenced a rioter who assaulted an officer on Jan. 6 to more than 12 years in prison. Math and reading scores for 13-year-olds in the U.S. hit their lowest levels in decades with school closures during the pandemic to blame. The Mortgage Note Reports Rural Opportunity: For borrowers in the rural South, a lack of lenders and higher rates make getting a mortgage difficult, but offers opportunities to lenders. BK’s Image Analyzing App: Black Knight introduced a new app that analyzes property photos with AI to speed up applications for HELOCs. TMN…

Morning Roundup (6/21/2023) — What Do The Wealthy Want?

Good Morning! Today is Wednesday, June 21. Hunter Biden will plead guilty to failing to pay his taxes on time. Experts had warned the company that operates the missing Titanic tourist sub that the craft posed a danger to passengers prior to this trip. A judge struck down Arkansas’s ban on transgender medical treatment for minors. The Mortgage Note Reports Filthy Rich: What are the wealthy looking for in their homes? The answers may surprise you. Editor Kimberley Haas has the story. Fighting For Latino Homeowners: Wells Fargo is funding a new initiative from nonprofit UnidosUS to create four million new Latino homeowners by 2030. Apps Positive, Just Barely: Mortgage applications ticked up slightly last week, rising 0.5% thanks to…

Morning Roundup (6/20/2023) — Back To The Office

Good Morning! Today is Tuesday, June 20. We hope everyone had a reflective and inspiring Juneteenth. A submersible headed for the sunken Titanic has been missing since Sunday. The Coast Guard is rushing to save those inside. Trump told Fox News the secret document he described in a recording was just news clippings. The Mortgage Note Reports Back To The Office: Companies are requiring their employees to be back at the office for most of the week, should this apply to mortgage professionals? It depends. Writer Chuck Green has the story. Housing Starts: Data released this morning shows that privately-owned housing starts were up last month, exceeding expectations. Lenders Fighting Unaffordability: Amsterdam-based Anyone.com is looking for U.S. lenders to join…

Morning Roundup (6/16/2023) — Rates Respond To The Fed

Good Morning! Today is Friday, June 16. A tornado killed three people and injured at least 75 others in the Texas Panhandle. New Jersey is the first state to require that all grades learn about climate change. Jack Teixeira, the Air National Guardsman who shared U.S. intelligence in an online chatroom, was indicted on charges of mishandling secrets. The Mortgage Note Reports Rates Respond: Mortgage rates ticked down slightly, from 6.71% to 6.69%, the second consecutive week of declines and the result of the Fed pause. Cenlar Hire: Industry vet Tom Donatacci is joining Cenlar as Investor Relations Officer. ICYMI: 60% of mortgage professionals are living paycheck to paycheck, and although it feels like the market is stuck now, people…

Morning Roundup (6/15/2023) — Fed Pauses Rate Hikes

Good Morning! Today is Thursday, June 15. The Supreme Court upheld a federal law that prioritizes the placement of Native American children with Native families. Southern Baptists voted to restrict women in church leadership. Miami mayor Francis Suarez entered the race for the Republican presidential nomination. The Mortgage Note Reports They Paused: The Federal Open Market Committee called a pause on their rate hikes Wednesday, electing to keep the target range at 5% to 5.25%, but they expect to raise rates “somewhat further” before the end of 2023. Writer Patrick Lavery has the story. Racial Bias In Appraisal: Veros says its automated valuation model isn’t biased, producing comparable figures for redlined and non-redlined homes. Kellett At FirstClose: Dan Kellett has…