Good Morning! Today is Thursday, October 13. The Biden administration will offer up to 24,000 Venezuelans a legal path into the country. The U.S. and NATO allies are sending more sophisticated defense systems to Ukraine to counter Russian missiles. Sandy Hook families won almost $1 billion in damages from Alex Jones. The Mortgage Note Reports Top Real Estate Issues: The global chair of The Counselors of Real Estate says inflation and interest rates are this year’s leading concerns of his 1,000-member organization. Editor Kimberley Haas has the story. “Growing Risk” Of Financial Crisis: Fannie Mae’s ESR group expects a moderate recession in 2023, but warns there’s a growing risk it could be worse than expected. What questions would you like us to ask the experts? Share…
Good Morning! Today is Wednesday, October 12. Moscow said it had arrested eight people over the bombing of a bridge linking Crimea to Russia. The International Monetary Fund warned of a worldwide recession if policymakers mishandle the fight against inflation. Angela Lansbury died at 96. The Mortgage Note Reports Downward Spiral Continues: Mortgage loan application volume fell another 2% last week as interest rates reached 6.81%, their highest point since 2006. Scott Rejoins Regions: Jason Scott is returning to Regions Bank and its subsidiary Sabal Capital Partners as managing director and head of Conventional Loan Production. What questions would you like us to ask the experts? Share your thoughts by emailing us at [email protected]. In other mortgage and housing news… More Cuts: Angel Oak has laid off another…
Good Morning! Today is Tuesday, October 11. China and India called for de-escalation in Russia’s war on Ukraine. The Los Angeles City Council president resigned from her leadership post after leaked audio captured her making racist remarks. The Nasdaq fell to its lowest level in over two years, as chip-company stocks slipped. The Mortgage Note Reports Expanding Access: Chuck Green takes a closer look at BOA’s zero-down payment, zero-closing cost mortgage designed to expand loan opportunities in Black and Hispanic communities. Lending Tightens Further: Mortgage credit availability dropped to its lowest level since March 2013 in September, the seventh month of declines. WFH Paradise: Austin, TX, has been ranked the best city for working from home, leading a list full of Southern and Western metros. What questions would you…
Good Morning! Today is Monday, October 10. Explosions in Ukraine killed at least ten people this morning in the most sustained missile assault in months. A landslide in Venezuela killed 22 people. The Los Angeles City Council president is facing calls to resign after a leaked audio recording revealed she made racist remarks. The Mortgage Note Reports Loan Locks: September loan lock volumes dipped almost 10% from August, the third straight month of lock activity below pandemic norms. O’Doherty At Mizuho: Joseph O’Doherty is joining Mizuho Americas as Managing Director, Head of Residential Mortgage Finance. CRA Note Exchange: Habitat for Humanity Affiliates in Florida and South Carolina can now build more affordable homes after a recent sale of mortgage notes on their behalf. What questions would you like us…
Good Morning! Today is Thursday, October 6. A gunman killed more than 30 people, including children, at a child-care center in Thailand. An American tourist smashed two ancient Roman sculptures into pieces at the Vatican. Oil-exporting countries, led by Saudi Arabia and Russia, agreed to cut their supply sharply to raise global energy prices. The Mortgage Note Reports Inflation Buster: Bill Banfield, Chief Risk Officer at Rocket Mortgage, sat down for an interview with Editor Kimberley Haas to talk about their new program which gives homebuyers a reprieve by reducing their monthly mortgage payment by one percentage point for the first year of their loan. “Unattainable”: Housing affordability is a bigger deal to Americans than the possibility of a recession, with 1 in 4 saying they’re putting…
Good Morning! Today is Wednesday, October 5. Stocks rose yesterday for the second straight day. America’s gross national debt exceeded $31 trillion for the first time. Elon Musk proposed buying Twitter for the price he agreed to in April, after months of trying to back out of the deal. The Mortgage Note Reports Spooky Listing: A house for sale in New Hampshire has been viewed 268,982 times on Zillow and is getting national attention because it features photos of the fictional character Michael Myers from the “Holloween” series of slasher films. Editor Kimberley Haas has the story. Apps Down Again: Mortgage loan application volume tumbled last week, falling to its slowest pace since 1997 as rates hit 6.75%, their highest point since 2006. Anchor CRO: Anchor Loans has…
Good Morning! Today is Tuesday, October 4. President Biden pledged $60 million in storm aid to Puerto Rico. North Korea launched a missile over Japan, prompting the government to tell residents in two regions to seek shelter. Britain’s prime minister canceled a proposed tax cut for high earners that had caused the pound to crash. The Mortgage Note Reports Be Aware: Officials at the Federal Emergency Management Agency are warning survivors of Hurricane Ian they should be aware of con artists and criminals looking to take advantage of the situation. Editor Kimberley Haas explains what that means for homeowners. Gig Worker Options: Loosening GSE lending standards are making it easier than ever for gig workers to finance homes even as mortgage interest rates are rising. PennyMac Exec: PennyMac…
Good Morning! Today is Monday, October 3. A new Supreme Court term begins today. The oil producers of the OPEC+ convene on Wednesday to set output targets for November and they are considering a reduction of 1 million barrels a day. Ukrainian forces regained the key city of Lyman, which Putin had declared part of Russia. The Mortgage Note Reports Top Stories: Our numbers are in and the top performing articles for September included a rapper sentenced to prison for a multi-million dollar fraud scheme, bad behavior in lending, and robotic furniture making waves in the quest to solve the housing crisis. Black Knight: Home prices fell for a second consecutive month in August, with prices seeing the sharpest contractions in more than 13 years. Rocket Changes: Rocket’s CFO and General Counsel are…
Good Morning! Today is Friday, September 30. Hurricane Ian strengthened and is expected to make landfall in South Carolina today. Six Republican-led states sued to block Biden’s student loan forgiveness plan. Vladimir Putin is planning to declare that four regions in eastern and southern Ukraine are now part of Russia. The Mortgage Note Reports Rates Near 7%: Mortgage rates skyrocketed to 6.70% from 6.29% this week, adding pressure on homebuyers who are already struggling with high home prices. Fannie CEO: Priscilla Almodovar has been named Fannie Mae’s Chief Executive Officer and member of the Board of Directors. Settlement: Eight senior living facilities that are inaccessible to the disabled will be retrofitted as part of a settlement between officials at the U.S. Justice Department and a New Jersey architecture…
Good Morning! Today is Thursday, September 29. The US economy shrank by 0.6% in Q2, confirming two straight quarters of negative growth, one sign the country could be in recession. President Biden announced a plan to end hunger in America by 2030. Hurricane Ian continues moving north, leaving severe damage and flooding in its wake. The Mortgage Note Reports Sellers On Top: Most housing markets still favor sellers despite increasing buyer-friendliness, especially in more affordable markets in the South and Midwest. Pending Home Sales: Pending home sales fell for a third consecutive month in August, with three of the four major regions seeing month-over-month declines. What do you think will happen in the housing market in 2023? Share your opinion by emailing us at [email protected]. In…
