Good Morning! Today is Tuesday, June 6. Mike Pence announced he is running for president. U.S. regulators accused Binance, the world’s largest crypto exchange, of mishandling customer funds and lying to investors. Apple announced goggles that overlay the virtual world on reality.
The Mortgage Note Reports
Prices Rising: Single-family home prices increased again in April, up 2% YOY and 1.2% from March, as low inventory keeps a nationwide correction at bay.
Cities Snubbed By Zoomers: Gen Z homebuyers favor affordable metros over traditionally young cities like San Francisco and NYC, preferring to save cash on housing.
Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Listen to our…
Good Morning! Today is Monday, June 5. A catastrophic multi-train crash in India killed 275 people and injured more than a thousand others. A Hollywood directors’ union reached a tentative deal with the studios on a three-year contract. Chuck Todd is stepping down from NBC’s “Meet the Press.”
The Mortgage Note Reports
loanDepot Changes: Just months after a proxy fight that pitted Anthony Hsieh against his Board of Directors, loanDepot announced a series of leadership changes.
Waiting It Out: A majority of Americans are delaying buying a home until rates fall as they struggle against record-low affordability. Just 6% plan to buy a home this summer.
MC Joins UMortgage: MC Mortgage Group is joining UMortgage, Anthony Casa’s nationwide mortgage platform.…
Good Morning! Today is Friday, June 2. The Senate approved the bill to raise the debt limit and avert a default. It now goes to President Biden to sign. Biden plans to pick Mandy Cohen, a former North Carolina health secretary, as the next C.D.C. director. Arizona will limit new housing construction in the Phoenix area because of a shrinking water supply.
The Mortgage Note Reports
Making It Work: A senior loan officer who works in Tennessee says inventory and affordability issues have hit the communities he serves. Editor Kimberley Haas sat down with Matt Ronne to get his predictions for the rest of the year and advice for other mortgage professionals.
Rates Soar: Mortgage rates increased again last week …
Good Morning! Today is Thursday, June 1. The House passed a debt limit bill in a bipartisan deal to avoid a default. Federal prosecutors have a recording of Donald Trump speaking about a sensitive document he kept after leaving office. Danny Masterson, an actor in “That ’70s Show,” was found guilty of two counts of rape.
The Mortgage Note Reports
Planet Buys Platinum: Planet Home Lending is expanding its footprint once again, this time acquiring Illinois-based retail lender Platinum Home Mortgage.
DwellWell’s AI: Real estate fintech DwellWell has launched “Dwelly,” the first-ever conversational AI designed for homebuyers.
Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Listen to…
Good Morning! Today is Wednesday, May 31. Theranos founder Elizabeth Holmes reported to prison to begin her 11-year sentence for fraud. Tara Reade, the former Senate aide who accused Biden of sexual assault, moved to Russia and said she was seeking citizenship there. The owners of Purdue Pharma will receive full immunity from all civil legal claims over its role in the opioid crisis.
The Mortgage Note Reports
Profit Margins: To home sellers who agonizingly watched the prices of their abodes recede recently, there’s little to say but “ouch.” But it’s not all bad news. Writer Chuck Green has the story.
Unsatisfied Shoppers: Americans who bought homes in 2023 are unhappy with their experiences and their new houses, saying they…
Good Morning! Today is Tuesday, May 30. Russia attacked Kyiv for two days and Ukraine retaliated by using drones to strike Moscow. Tech leaders warned that A.I. “poses an extinction risk for humans.” Theranos founder Elizabeth Holmes is expected to report to prison today.
The Mortgage Note Reports
Farner Retires: After a 27-year career, Rocket Companies CEO Jay Farner is retiring and he will be remembered as a keen businessman who helped make mortgages more accessible. Editor Kimberley Haas has the story.
Prices Up In March: Data released today shows a modest increase in home prices took place in March, signaling that home price declines may be over.
Elon On Home Values: Elon Musk said he expects pressure on commercial…
Good Morning! Today is Friday, May 26. There will be no newsletter on Monday in recognition of Memorial Day. Ron DeSantis’s campaign said it raised $8.2 million in his first 24 hours as a presidential candidate. Federal prosecutors are investigating whether Senator Robert Menendez (D-NJ) received unreported gifts. Hyundai and LG will build a $4.3 billion electric vehicle battery plant in Georgia.
The Mortgage Note Reports
Rates Respond To Capitol Hill: Mortgage rates increased again last week, reaching 6.57%, due to a heap of political and financial news.
Home Sales Flat: April brought no change at all in pending home sales, NAR said, due to continuing inventory and affordability concerns.
Spring Podcast: TMN’s team has been tracking national trends and…
Good Morning! Today is Thursday, May 25. A Twitter malfunction caused twenty minutes of glitches for Ron DeSantis’s presidential announcement. President Biden is expected to nominate the Air Force chief of staff to become the country’s most senior military officer. Tina Turner died at 83.
The Mortgage Note Reports
Handing Out Freebies: More than 40% of home sellers are giving concessions to buyers as home shoppers shy away from the pricey market.
Delinquency Improves: The overall mortgage delinquency rate fell to a record low in March, while serious delinquencies dropped to a 23-year low.
Mortgage Fee Fight: Changes to fees for loans backed by Fannie Mae and Freddie Mac continue to be a hot topic as Republicans push to repeal…
Good Morning! Today is Wednesday, May 24. Florida Governor Ron DeSantis plans to announce his candidacy for president live on Twitter today with Elon Musk. The South Carolina Senate passed a ban on abortion after six weeks of pregnancy. Most of Guam is without power after being hit by a typhoon.
The Mortgage Note Reports
Apps Down Again: Mortgage applications fell again last week, down almost 5%, as borrowers shrink back from rising rates.
Soft Credit Pull: Blend Labs announced new soft credit functionality for the mortgage prequalification process in response to rising credit report prices.
More Regulation?: At an industry conference in New York City, MBA CEO Bob Broeksmit said policymakers plan to pile on more enforcement and red…
Good Morning! Today is Tuesday, May 23. Speaker Kevin McCarthy and President Biden met to discuss the debt limit again but remained far apart on a deal. TikTok sued to block Montana’s ban of the app, citing the First Amendment. California, Arizona, and Nevada agreed to use less water from the depleted Colorado River.
The Mortgage Note Reports
Construction Lending: Editor Kimberley Haas sat down with Brian Mingham, the CEO of a national end-to-end risk mitigation company who says their platform opens doors to lenders that want to enter the construction market.
Besting Expectations: April brought an increase in new residential sales after revisions put March’s numbers down, a surprise to analysts who expected declines.
Korth CEO: Korth Direct Mortgage…
