Good Morning! Today is Monday, August 22. The daughter of an influential, ultra-nationalist Russian philosopher was killed by a car bomb on the outskirts of Moscow. Teachers at Ohio’s largest school district voted to go on strike Sunday, just days before school is scheduled to start. The Mortgage Note Reports Sink Or Swim: Three industry professionals recently hosted a National Mortgage Profession webinar to offer advice so mortgage lenders can stay afloat now that the market has shifted in many parts of the country. Writer Scott Kimbler offers insight into what they said. July Home Sales: Home sales dropped 19.3% YOY in July to their lowest level since the beginning of the pandemic, their biggest annual decline in more than a year. Arc Home: Non-QM lender Arc Home…
Good Morning! Today is Friday, August 19. A judge may release the affidavit used in the search of Donald Trump’s Florida home, with a redaction. A Trump Organization executive admitted to conspiring with the company to avoid taxes. The NFL will suspend Deshaun Watson for 11 games after sexual misconduct claims. The Mortgage Note Reports Rates Fall: Mortgage rates dropped to an average of 5.13% last week following a volatile few weeks of ups and downs. Lender Losses: IMBs and mortgage subsidiaries of chartered banks reported a net loss of $82 on each loan they originated in Q2, down from a gain of $223 per loan in Q1. Cybersecurity Careers: Leaders at Bank of America announced this week that they have partnered with Liberty Science Center’s SciTech Scity to launch a pilot program that promises to improve the future of high school education. Is your organization bettering the community?…
Good Morning! Today is Thursday, August 18. CDC director Rochelle Walensky called for the agency to be overhauled after an external review found it had botched its response to COVID. Liz Cheney is “thinking” about running for president. A federal judge ordered CVS, Walgreens, and Walmart to pay $650.5 million for helping fuel the opioid crisis. The Mortgage Note Reports Rate Drop Advantage: Leaders at Rocket Mortgage have launched a new program that will cover a sizable portion of closing costs for a refinance transaction if interest rates drop and their customer refinances within three years of purchasing a home. Writer Tyrone Townsend has the story. Sales Decline Continues: Existing-home sales dropped for the sixth straight month in July, down 5.9% from June and 20.2% YOY. Fay CIO: Tampa-based Fay Servicing has…
Good Morning! Today is Wednesday, August 17. President Biden signed the Democrats’ climate, health, and tax bill into law. Trump-critic Liz Cheney lost her primary race for Wyoming’s House seat. The F.D.A. will allow hearing aids to be sold over the counter. The Mortgage Note Reports Loan Apps Reverse Course: Mortgage loan applications fell 2.3% last week, reversing a two-week uptick and hitting their lowest level since 2000. Volly CEO: Katharine Loveland has been named CEO of dynamic tech and marketing services provider Volly. Helping Children: Bank of America has granted the Children’s Hospital of Philadelphia’s Center for Health Equity $1 million to launch a program that promises to improve children’s overall health in West Philadelphia. Is your organization bettering the community? Share your story! Email Editor Kimberley Haas at [email protected]. And in…
Good Morning! Today is Tuesday, August 16. The Justice Department objected to the news media’s request to make public the affidavit for the Mar-a-Lago search warrant because they said releasing it could deter witnesses. Scotland is the first country to make period products free. Oil prices hit their lowest level in months. The Mortgage Note Reports Popular Portsmouth: This quaint city which attracts tourists from all over the world is growing as people escape the rat race of Boston and New York City. Writer Chuck Green explains. Housing Starts Plummet: Homebuilding dropped sharply below expected levels in July as both buyers and sellers continue to lose confidence in the market. Competition Heats Up: In a reversal of a pandemic trend, competition for low-priced homes has surpassed that for mid-…
Good Morning! Today is Monday, August 15. Ukraine accused Russia of using the Zaporizhzhia nuclear power plant to blackmail Kyiv and its allies. Five members of Congress arrived in Taiwan, less than two weeks after a visit by Speaker Nancy Pelosi prompted Chinese military drills. Actress Anne Heche died at 53 after a car crash. The Mortgage Note Reports Listings Fall: New listings fell 12% during the four-week period ending August 7 as “rate lock-in” and falling demand pushed some sellers to the sidelines. Fairway Hires: Scott Bristol, Brian Chick, and John Lowe have joined Fairway Independent Mortgage as part of an “aggressive expansion” of its production group. And in other mortgage and housing news… Wells Fargo Cutting Mortgage Ties: Wells Fargo, which once accounted for one of every…
Good Morning! Today is Tuesday, August 9. Donald Trump said the F.B.I. raided his Mar-a-Lago home and opened a safe. China announced plans for more drills in the waters around Taiwan. Olivia Newton-John died at 73. The Mortgage Note Reports Cenlar Appointments: Cenlar FSB has appointed Dave Applegate as Chairman of the Board of Directors, while Robert Lux and Dr. James Dara will take over as co-CEOs. Inventory Growth: Active listings rose by 30.7% YOY in July, a record-high growth rate, but remain below their pre-pandemic and even early-pandemic levels. View Post And in other mortgage and housing news… Delinquencies Fall Again: Delinquencies accounted for 2.7% of all mortgages in May, down 2% month-over-month to another new low. Bad Times: Consumer sentiment towards housing fell to its lowest level since…
Good Morning! Today is Monday, August 8. The Senate passed the Democrats’ climate and tax bill with a 50/50 split vote. Kamala Harris broke the tie, and the House is expected to pass it this week. Israel and Palestinian militants in Gaza agreed to a cease-fire, ending three days of fighting. The Mortgage Note Reports Price Growth Breakdown: Home price appreciation is leveling out on a national level, but zooming in by price point and region reveals a more complex picture. Santander x Rocket: Santander chose Rocket Mortgage as its preferred mortgage provider, and its 2 million clients will receive home loan discounts from the company. And in other mortgage and housing news… Weed And Real Estate: TRD breaks down the obstacles and opportunities emerging for real estate professionals in…
Good Morning! Today is Friday, August 5. The Biden administration declared the monkeypox outbreak a national health emergency, releasing extra funds. Senator Kyrsten Sinema agreed to advance a modified version of the Democrats’ climate and tax bill. A Russian judge sentenced Brittney Griner to nine years in a penal colony on drug charges. The Mortgage Note Reports Rates Sink: Mortgage rates nosedived by 31 basis points last week to an average 4.99%, dropping below 5% for the first time since April. Zillow, Opendoor Shake Hands: Zillow is partnering with once-rival Opendoor in a multi-year deal that allows Zillow users to request an Opendoor offer on their home. And in other mortgage and housing news… Jobs Report: U.S. employers added 528,000 jobs in July, again besting expectations and bringing the total…
Good Morning! Today is Thursday, August 4. The Senate ratified adding Finland and Sweden to NATO, 95 to 1. Indiana Representative Jackie Walorski and two of her aids were killed in a car crash. Taiwan canceled airline flights as China fired missiles near the island in retaliation for Nancy Pelosi’s visit. The Mortgage Note Reports We’re Equity-Rich!: Nearly half of all mortgaged homes in the U.S. were equity-rich in Q2 2022, with the most equity gains concentrated in the South. Radius Mortgage: Real estate tech brokerage Radius has launched an in-house mortgage brokerage in California. Cracking Down: Officials at the Consumer Financial Protection Bureau are cracking down on a mortgage company that allegedly discriminated against minority families and a bank that is accused of pressuring employees into unlawfully accessing the credit reports of…
