Good Morning! Today is Friday, March 24. A drone of Iranian origin killed a U.S. contractor in Syria, the Pentagon said. Officials ordered airstrikes in Syria in response. Young people in Montana are suing the state over its support of fossil fuels in a landmark climate case. Lawmakers questioned TikTok’s CEO about the app’s ties to its Chinese parent company and its effects on children.
The Mortgage Note Reports
Rates Down Again: Homebuyers lucked out again this week as rates continued sliding, falling by nearly twenty basis points.
Ratiu Heads To KCM: Realtor.com’s George Ratiu is joining Keeping Current Matters as chief economist, effective immediately.
ICYMI: Editor Kimberley Haas wrote about a class action complaint involving United Wholesale Mortgage and…
Good Morning! Today is Thursday, March 23. The Fed raised interest rates by a quarter of a point. A judge blocked Wyoming’s abortion ban until further court proceedings. The CEO of TikTok is testifying before the House Energy and Commerce Committee this morning.
The Mortgage Note Reports
Rate Hikes: Writer Patrick Lavery covers this week’s decision by officials at the Federal Reserve to slow down interest rate hikes as banking uncertainty continues.
Ups And Downs: Delinquencies across the nation rose in February to 3.45% as economic pressures squeeze Americans, but prepayment activity saw improvement.
New Home Sales: New home sales increased by 1.1% in February, an unexpected increase, and remain down 19% from the same time last year.
TMN Presents: …
Good Morning! Today is Wednesday, March 22. President Biden designated two national monuments in Nevada and Texas, protecting lands important to Native peoples. Google released Bard, its own A.I. chatbot, to compete with rivals. Actress Gwyneth Paltrow is on trial for her role in a ski accident.
The Mortgage Note Reports
HUD Budget: Leaders at the U.S. Department of Housing and Urban Development have unveiled their proposed budget for FY 2024 and say funds will be directed at solving the nation’s housing crisis. Writer Scott Kimbler has the story.
Apps Up: Mortgage applications rose for a third week as buyers take advantage of retreating rates, but will increased demand last?
Lewis At BSI: Former Nationstar exec Harold Lewis is joining…
Good Morning! Today is Tuesday, March 21. Amazon is laying off another 9,000 workers. Biden issued his first veto to preserve investment managers’ ability to take account of climate change. Los Angeles school employees are set to begin a three-day strike today, shutting down the nation’s second-largest school district.
The Mortgage Note Reports
Merger Lawsuit: A shareholder has filed a class action complaint over a merger deal with United Wholesale Mortgage, saying he and others were misled by leaders at Gores Holdings. Editor Kimberley Haas has the story.
Guild CEO Retiring: Guild Mortgage CEO Mary Ann McGarry is retiring this June after forty years in the industry, to be succeeded by current president Terry Schmidt.
Existing Home Sales: Existing home…
Good Morning! Today is Monday, March 20. Banking stocks and bonds plummeted after UBS Group agreed to buy its rival, Credit Suisse. Republicans are rushing to Trump’s defense ahead of a possible indictment. Avalanches killed two people in Colorado.
The Mortgage Note Reports
First In A Decade: Annual home prices fell for the first time since 2012 last month as buyer demand retreated and new listings fell to their lowest level on record.
Company Face Lift: Daily AI is rebranding to Aidium Mortgage CRM and launching a new version of its product.
ICYMI: Last week, Chuck Green took a look at if hotels have recovered from the pandemic and Patrick Lavery wrote about what officials at the Federal Reserve are…
Good Morning! Today is Friday, March 17. Happy St. Patrick’s Day. First Republic Bank, which has struggled since SVB’s collapse, will receive $30 billion in deposits from Wall Street’s biggest banks. Xi Jinping, China’s leader, will meet with Vladimir Putin next week. North Dakota’s Supreme Court decided that the state Constitution protected abortion rights in some situations.
The Mortgage Note Reports
It’s Their Move: With the sudden collapse of Silicon Valley Bank and New York-based Signature Bank, all eyes are on what leaders at the Federal Reserve will do at their meeting next week. Writer Patrick Lavery spoke with economists who explained how this relates to the housing market.
Kinecta CLO: Kinecta Federal Credit Union announced C-suite changes, with Jason…
Good Morning! Today is Thursday, March 16. March Madness starts today. Credit Suisse is borrowing up to $54 billion from the Swiss central bank to ward off concerns about its financial health. Garbage is piling up in French cities as workers strike to protest President Emmanuel Macron’s plan to raise the retirement age.
The Mortgage Note Reports
Hotel Recovery: With a projected 1.3 billion occupied room nights in 2023, writer Chuck Green dives into the state of the hotel industry, what lenders need to know, and where investors should be looking.
Surprise Gains: Housing starts and permits both rebounded by more than expected in February, with increases for both single-family and multifamily projects.
Real Matters Change-Up: Rodrigo Pinto has been…
Good Morning! Today is Wednesday, March 15. Meta is laying off 10,000 employees, its second round of cuts since November. A Russian warplane collided with a U.S. drone over the Black Sea. Biden signed an executive order to strengthen background checks for gun buyers and improve investigations into gun crimes.
The Mortgage Note Reports
To Hike Or Not To Hike?: Mixed economic indicators released this week may have stalled the Federal Reserve’s plans for another round of aggressive rate hikes.
Applications Rise, Rates Fall: Mortgage applications increased again last week while brewing banking troubles forced rates down.
Concerns In Lending: Chairman Eddie Wilson of the American Association of Private Lenders sat down with Editor Kimberley Haas to discuss issues of…
Good Morning! Today is Tuesday, March 14. SVB’s collapse continues to pound global bank stocks this morning. The U.S., Britain, and Australia will jointly develop a fleet of nuclear-powered submarines in the Pacific. A late-winter storm is moving through the Northeast, with a forecast of heavy snow.
The Mortgage Note Reports
Another Guild Acquisition: Guild Mortgage acquired Cherry Creek Mortgage, a Colorado-based privately held lender with physical branches in 45 states.
Single Women Building Wealth: Homeownership remains the most significant way single women can build wealth, and more women than ever are taking advantage.
Banking Crisis: The administration worked to assure consumers that the banking system was safe on Monday following the sudden collapse of two financial institutions. Editor Kimberley…
Good Morning! Today is Monday, March 13. The Biden administration is expected to approve an oil drilling project in Alaska today. Mike Pence said “history will hold Donald Trump accountable” for Jan. 6. Boats capsized during a suspected human smuggling attempt in San Diego, killing at least eight people.
The Mortgage Note Reports
Lock Volume Boost: Non-conforming loans pushed rate lock dollar volumes up in February as homebuyers struggle to handle high rates.
NAF CPO: Pat Bolan has joined New American Funding as Chief Production Officer.
Underserved Communities: Bill Banfield, EVP of Capital Markets at Rocket Mortgage, says their pilot programs in underserved communities are helping people get on the homeownership ladder.
TMN Presents: The Mortgage Meltdown Meter, a collection…
