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…
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: …
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…
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…
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…
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: …
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.…
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: …
Good Morning! Today is Tuesday, March 28. The Labor Department has labeled Dollar General a severe violator of workplace safety standards. An attacker killed three 9-year-olds and three adults at a school in Nashville before being killed by the police. North Carolina expanded Medicaid in a bipartisan deal.
The Mortgage Note Reports
Commercial Spaces: As the retail sector is projected to perform better than pre-pandemic levels moving forward, what does that mean for malls? Writer Patrick Lavery has the story.
Home Price Gains: Former buyer hotspots in the West once again saw home prices fall in January as the market corrects, but the rest of the country is faring slightly better.
Homebuyer Rewards: Rocket debuted a Visa card with cashback…
Good Morning! Today is Monday, March 27. Israelis are protesting after Prime Minister Netanyahu fired his defense minister for opposing a plan to strip power from the supreme court. Seven people are dead after an explosion at a chocolate factory in Pennsylvania. Violent storms in the South killed at least 26 people this weekend.
The Mortgage Note Reports
SVB Collapse: Leaders at First Citizens Bank and Trust Company have entered into an agreement to acquire Silicon Valley Bridge Bank. Editor Kimberley Haas has the story.
Feeling The Squeeze: Rents have been rising nationwide, but a new analysis found that renters in the Sun Belt have seen the biggest jumps thanks to domestic migration.
Leslie Heads To CBC: Guaranteed Rate’s Mark…
