Good Morning! Today is Thursday, March 21. Apple is being sued by the Department of Justice and 17 states that argue the company has monopoly power. Trump said he would support a nationwide abortion ban after 15 weeks of pregnancy. The E.P.A.’s new tailpipe pollution limits are aimed at making most new cars electric or hybrid by 2032.
The Mortgage Note Reports
Changes Coming: Federal Reserve Chair Jerome Powell shared their projections for the federal funds rate after meeting this week. Editor Kimberley Haas has the story.
Debt-Burdened States: Homeowners in Maryland, Hawaii, and Nevada added the most mortgage debt between Q3 and Q4 2023.
PHL Hire: Matt Kingsborough joined Planet Home Lending as Regional Sales Manager.
In other…
Good Morning! Today is Wednesday, March 20. The Supreme Court will not block a Texas law making it a crime for unauthorized migrants to enter the state. Former Trump advisor Peter Navarro reported to prison to begin a four-month sentence. Trump-backed Bernie Moreno will face Sherrod Brown in the Ohio Senate race.
The Mortgage Note Reports
NAR Settlement Impacts Vets: Huge changes to Realtors’ commission structures may disadvantage veterans using VA loans because they are prohibited from paying real estate commissions.
Rates, Apps Yo-Yo: Mortgage applications are down again as affordability-minded buyers respond to fluctuating rates, which shot back up to nearly 7%.
In other mortgage and housing news…
“Tactical Retreat”: NAR’s settlement appears to help the Realtors…
Good Morning! Today is Tuesday, March 19. The FOMC begins its March meeting today. Several states are holding presidential primaries. Japan raised interest rates for the first time in 17 years. The U.S. said Israel will send officials to Washington to discuss concerns over a military operation in Rafah.
The Mortgage Note Reports
Tech Helps: The CEO of Land Gorilla says advancements in technology are creating opportunities for more profitable construction lending. Editor Kimberley Haas has the story.
Construction Comeback: Residential starts bounced back in February for both single- and multi-family housing after severe winter weather slowed builders down.
Grant Offer: Ally Home and HouseCanary are offering a $5,000 grant to homebuyers in three major metros while adding a search…
Good Morning! Today is Monday, March 18. Vladimir Putin won another six-year term in the Russian elections. Elon Musk released the computer code behind his version of an A.I. chatbot, Grok. American sailors and pilots are fighting the Houthis in the Red Sea.
The Mortgage Note Reports
Don’t Be Disappointed: The Feds are not expected to drop rates this week, and that may be the case for some time. Writer Patrick Lavery has the story.
Look Back: Earnings for the fourth quarter of 2023 and the year total are out. Here’s a snapshot of how some of the nation’s top lenders handled last winter.
Leadership Moves: Mortgage industry marketing veteran Sara Holtz has joined Optimal Blue as its Chief Marketing…
Good Morning! Today is Friday, March 15. The federal judge overseeing Trump’s classified documents trial rejected an effort to dismiss the case. Kamala Harris visited a Planned Parenthood clinic in Minnesota. SpaceX’s Starship broke down when re-entering Earth’s atmosphere.
The Mortgage Note Reports
“No Day At The Beach”: Coastal homes are at risk from severe flood damage due to sea level rise and changing storm patterns. Reporter Chuck Green has the story.
Rates Move Down: Buyers lucked out last week as rates continued to decline, hitting 6.74% and cooling the cost of purchasing a home.
New Savings: Digital tool provider Floify introduced a sidekick to its popular platform that includes a flexible per-loan pricing option.
In other mortgage and housing…
Good Morning! Today is Thursday, March 14. The House passed a bipartisan bill that would force TikTok’s Chinese owner to sell the app or face a ban. Family Dollar will close about 1,000 stores. A powerful storm is dumping snow on Colorado, with two to four feet forecast in some areas.
The Mortgage Note Reports
One-Time Close: Wholesale and correspondent lender Click n’ Close launched a new mortgage product designed for homebuyers in rural America.
Tribuna At AH: Affordable lending veteran Mark Tribuna has been named Chief Operations Officer at Arrive Home.
In other mortgage and housing news…
Earnings Report: Guild reported originations at $15 billion in 2023, including $3.5 billion in Q4.
Affordability Woes: The median monthly housing…
Good Morning! Today is Wednesday, March 13. Biden and Trump swept yesterday’s primary elections. Airbnb will ban the use of indoor security cameras. The U.S. will send Ukraine up to $300 million in weapons.
The Mortgage Note Reports
Refi’s Moment To Shine: Mortgage applications increased for a second week as rates retreated from 7%, giving refinances a boost.
Historic Moment: Snapdocs and Fairway Independent Mortgage recently completed the largest eNote migration in mortgage history.
Minimizing Delinquencies: The president of Cornerstone Servicing says they are prepared to help lenders as inflation and the rising costs associated with ownership put financial pressure on Americans, leading to potential defaults in the second half of the year.
In other mortgage and housing news…
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Good Morning! Today is Tuesday, March 12. Biden’s budget includes plans to tax the rich to fund social services but is not expected to pass in the House. Zimbabwe expelled U.S. officials, accusing them of promoting “regime change.” An audit found dozens of problems in the manufacture of Boeing’s 737 Max.
The Mortgage Note Reports
One-On-One: The CEO of Dark Matter Technologies says they remain focused on streamlining processes for their clients as they work to revolutionize the mortgage industry. Rich Gagliano recently sat down with Editor Kimberley Haas to talk about it.
Fudge Out At HUD: HUD secretary Marcia Fudge resigned due to family circumstances and will be replaced by Deputy Secretary Adrianne Todman.
Willing To Go Higher: Gen…
Good Morning! Today is Monday, March 11, the first day of Ramadan. President Biden will propose his 2025 fiscal budget today, though it is not expected to become law. Virginia will end legacy admissions at public universities. At the Oscars, Oppenheimer won Best Picture.
The Mortgage Note Reports
Cash Crunch: How much should buyers put down on a home if they want to compete in today’s market? Writer Erin Flynn Jay talked to industry leaders to find out.
Spring Has Sprung: Mortgage purchase locks increased at the start of the spring homebuying season despite ongoing challenges, setting the stage for more activity.
Election Impact: More than half of Americans, both homeowners and renters, will partly base their choice for President…
Good Morning! Today is Friday, March 8. President Biden gave a “fiery” State of the Union address to a raucous Congress. Sweden formally joined NATO. High school students will take a fully digital SAT this weekend for the first time.
The Mortgage Note Reports
State Of Housing: President Biden proposed new housing initiatives in Thursday’s State of the Union address, including relief for both buyers and sellers.
Rate Improvements: Mortgage rates broke a month-long upward streak, deflating for the first time in weeks and resulting in a purchase demand boost.
Woman To Woman: As Women’s History Month is celebrated this March, we asked leaders in the industry and related fields to share their advice with others. Here’s what they said.…
