Morning Roundup (4/11/2023) — First-Timers Feeling Optimistic

Good Morning! Today is Tuesday, April 11. Nashville lawmakers reinstated Justin Jones, one of two Black Democrats expelled by a Republican supermajority last week. Italy has rescued more than 2,000 migrants from rough seas since Friday. A gunman killed five of his co-workers at a bank in Louisville, KY. The Mortgage Note Reports Policy Memoir: A new book by Mark Calabria provides insider insight into how millions of Americans were provided mortgage and rental assistance in response to the COVID-19 pandemic. Writer Patrick Lavery has the story. First-Timers Feeling Optimistic: First-time homebuyers are feeling ready to face the market, despite facing high prices, rates, and competition. NAF Change-Up: NAF rebranded its cash offer program Buyer Accepted to NAF Cash. TMN…

Morning Roundup (4/10/2023) — Lock Volumes Up

Good Morning! Today is Monday, April 10. Highly classified Pentagon documents leaked online in recent weeks show how the US spies on both allies and foes. An imam was stabbed during early morning prayers at a mosque in Paterson, N.J. Jon Rahm, 28, won the Masters, the second major win of his career. The Mortgage Note Reports March Gains: Lock volumes increased across the board last month, with purchase locks seeing the greatest month-over-month increase of the past five years. Vacation Home Demand: House hunters are poised to face less competition this spring buying season as second home demand dwindles. TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay…

Morning Roundup (4/7/2023) — Profits In The Red

Good Morning! Today is Friday, April 7. It’s Good Friday. We hope everyone who celebrates Easter has a wonderful weekend. Supreme Court Justice Clarence Thomas is under fire for decades of luxury vacations funded by a Republican megadonor. Tennessee House Republicans voted to expel two Democrats who protested in the legislative chamber for stricter gun laws. The Mortgage Note Reports Profits In The Red: IMBs lost an average of $301 on every loan they originated last year as buyer demand shrank and production costs soared. Rates Down: Mortgage rates declined for another week, giving spring buyers more bang for their buck, but many Americans are still priced out of the market. ICYMI: A California landlord is being charged with discrimination…

Morning Roundup (4/6/2023) — Tax Pains

Good Morning! Today is Thursday, April 6. Speaker Kevin McCarthy hosted Taiwan’s president in California. Tennessee Republicans will vote today on whether to expel three Democratic lawmakers who joined a gun-control protest in the state legislature. A tech exec who founded Cash App was stabbed to death in San Francisco. The Mortgage Note Reports Valuation Modernization: As technology improves, the concept of valuation modernization is gaining traction and some industry leaders say in a few years in-person appraisals could be a novelty instead of the norm. Editor Kimberley Haas has the story. Tax Pains: Property taxes are on the rise, another source of financial stress for Americans already struggling under sticky inflation and the affordability crisis. Parsons At First Home: …

Morning Roundup (4/5/2023) — Family Rights

Good Morning! Today is Wednesday, April 5. Donald Trump pleaded not guilty to 34 felony counts of falsifying records related to his payments to Stormy Daniels. This is the first time in history an ex-president has been charged with a crime. The F.D.A. plans to allow older and immunocompromised Americans another updated Covid shot. The Mortgage Note Reports Family Rights: A California apartment building owner who suggested a couple move into a bigger unit to accommodate their growing family is being charged with discrimination by U.S. Department of Housing and Urban Development officials. Editor Kimberley Haas has the story. Apps Reverse Course: Mortgage applications reversed after a month of increases despite declining rates, a rocky start to the typically robust…

Morning Roundup (4/4/2023) — New Crypto Products

Good Morning! Today is Tuesday, April 4. Police officers and Secret Service agents will escort Donald Trump to a courthouse in Manhattan before his arraignment at 2:15 p.m. Finland will join NATO today. Residents of Paris voted to ban electric rental scooters. The Mortgage Note Reports Insurance On The Rise: Homeowners are in for more financial stress in 2023 as insurance rates are set to rise thanks to inflation and increased climate risk. Crypto Products: Crypto lending platform Moon Mortgage launched a new mortgage for crypto investors and a crypto loan margin account, Trade & Borrow. TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the…

Morning Roundup (4/3/2023) — Spring’s Here

Good Morning! Today is Monday, April 3. Trump spent the weekend making plans for his arrest, while officials in New York prepared for potential turmoil. Saudi Arabia, Russia, and their oil-producing allies said they would cut production, an apparent effort to increase prices. Pope Francis left the hospital after receiving treatment for bronchitis. The Mortgage Note Reports Spring’s Here: As the traditional spring homebuying season begins, a lack of inventory, high interest rates, and economic uncertainty due to banking troubles have dominated the news. So what can people expect? Writer Chuck Green has the story. Wyndham x SoFi: Financial services company SoFi Technologies has acquired Wyndham Capital Mortgage in an all-cash deal. Rocket Rolls Out More: Rocket Mortgage and Rocket…

Morning Roundup (3/31/2023) — Rates Sink Again

Good Morning! Today is Friday, March 31. Donald Trump has been indicted by a New York grand jury for his role in paying hush money to adult film actress Stormy Daniels. District Attorney Alvin Bragg’s office said it has contacted Trump’s attorney “to coordinate his surrender” for arraignment. Wimbledon has dropped its ban on Russian tennis players. A jury sided with actress Gwyneth Paltrow in a 2016 ski crash civil trial. The Mortgage Note Reports Rates Sink Again: The average mortgage rate ticked down again this week, falling from 6.42% to 6.32%, but waning banking sector concerns have made them volatile. Endpoint Promotion: Digital title and settlement company Endpoint promoted Shawna Hernandez to COO, a newly created position. No-Poach Penalty: …

Morning Roundup (3/30/2023) — Industry Supports SECURE Act

Good Morning! Today is Thursday, March 30. Russia detained an American reporter from The Wall Street Journal, accusing him of espionage. Several tech experts, including Elon Musk, want to pause AI development for six months or more. Narcan, which can help prevent opioid overdose deaths, will now be sold over the counter at local pharmacies. The Mortgage Note Reports SECURE Notarization Act: Industry leaders are rallying around a federal bill that would permit the nationwide use of remote online notarization. Editor Kimberley Haas sat down with two leaders at SingleSource Property Solutions to learn more. Elusive Affordability: Buying a house became slightly more affordable in Q1 2023 as the housing market stalled, but remained out of reach for many Americans.…

Morning Roundup (3/29/2023) — Applications Up Again

Good Morning! Today is Wednesday, March 29. A new federal indictment accuses FTX Founder Sam Bankman-Fried of conspiring to bribe Chinese officials. Alibaba Group, China’s e-commerce giant, is splitting into six business groups. Mike Pence has been ordered to testify before a grand jury investigating the Jan. 6 riot. The Mortgage Note Reports Supplemental Claims: A Florida mortgage broker challenging UWM’s ultimatum agreement wants to include recent disclosures and statements related to the company’s successes to help prove his antitrust case. Editor Kimberley Haas has the story. Applications Up Again: Mortgage applications increased for a fourth week, inching up as home price indicators show decelerating growth. Cenlar Promotion: Rene Gonzales has been promoted to CTO at Cenlar FSB. TMN Presents: …