Good Morning! Today is Monday, May 22. Republican Senator Tim Scott of South Carolina is officially running for president. The N.A.A.C.P. issued a travel advisory for Florida, cautioning that state policies under Governor Ron DeSantis are not welcoming to Black Americans. Meta was fined $1.3 billion for violating E.U. data privacy rules.
The Mortgage Note Reports
Rocket Roll Out: Rocket launched a 1% down payment program, ONE+, which includes mortgage insurance at no cost to the borrower.
MORGAN Updates: Real estate AI MORGAN can now calculate mortgage rates, communicate with borrowers, and walk them through the application process.
Most Popular: Writer Chuck Green’s article about nontraditional spring markets is the most popular with our readers on social media this month.…
Good Morning! Today is Friday, May 19. The Supreme Court upheld a technology law protecting companies from liability over users’ posts, a win for social media platforms. Disney canceled a $1 billion development planned for Orlando, continuing its feud with Gov. Ron DeSantis. Ukraine’s President Zelensky will attend the G7 meeting in Japan.
The Mortgage Note Reports
College Grads: Professional opportunities, affordability, and fun in the country’s cities are being measured as commencement ceremonies wrap up nationally and Atlanta is coming out on top as the best place for college graduates to move to. Editor Kimberley Haas has the story.
Rates Reverse: After falling slightly the week before, mortgage rates shot right back up last week, continuing to fluctuate within…
Good Morning! Today is Thursday, May 18. TikTok has been banned in the state of Montana which will likely prompt a First Amendment legal battle. Lawmakers in Texas banned transgender medical care for minors. Floods in Italy killed at least eight people and left thousands of people homeless.
The Mortgage Note Reports
Existing-Home Sales: Existing-home sales dipped in April, continuing a downward trend, as high rates and low inventory continue to strangle the market.
Nahil At FormFree: Jonathan Nahil has joined mortgage fintech FormFree as CTO.
Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Check out our spring podcast.
TMN Presents: The Mortgage Meltdown Meter, a…
Good Morning! Today is Wednesday, May 17. Officials in Ukraine say they shot down six hypersonic missiles, some of Russia’s most sophisticated conventional weapons. North Carolina’s legislature reapproved a 12-week abortion ban, overriding a veto. San Francisco is proposing a reparations plan that includes $5 million in cash payments and housing aid.
The Mortgage Note Reports
Apps Hurting: Mortgage applications fell last week, wiping out the prior week’s gains, as purchase applications dropped to their slowest pace in a month.
Closing The Gap: A Fannie Mae program designed to help build the credit scores of renters is finding success.
New Hires: Down Payment Resource announced four new hires to help expand its sales footprint, relationships, and customer base.
Spring Podcast: …
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…
