Morning Roundup (2/20/2024) — Winning Team

Good Morning! Today is Tuesday, February 20. The U.S. and U.N. are negotiating a resolution calling for a temporary ceasefire in Gaza. Capital One will buy Discover in an all-stock, $35M deal. More serious rain is expected in California this week. The Mortgage Note Reports Winning Team: Having motivated mortgage professionals has helped Agave Home Loans grow since it was founded at the beginning of 2020. Co-owner Marshall Gottlieb talked with Editor Kimberley Haas about how they have found success. Ardley Autopilot: Mortgage tech company Ardley rolled out an automatic underwriting engine that creates instant conditional loan approvals for qualified buyers. Building Slowdown: Multifamily construction slowed last month as developers pulled back, dragging down overall residential construction numbers. In other…

Morning Roundup (2/16/2024) — Renters’ Plight

Good Morning! Today is Friday, February 16. Donald Trump’s criminal trial over payments to Stormy Daniels was set for March 25. OpenAI previewed Sora, an AI video generator. Authorities in Kansas City are keeping two teenagers in custody after the Super Bowl celebration shooting. The Mortgage Note Reports Renters Plight: Compared to homeowners, renters feel bad about their finances, but in most of the country renting is the more affordable option right now. Writer Erin Flynn Jay has the story. Rates Increase: Tough inflation data led to mortgage rates increasing for a second straight week, hitting 6.77%. Guild + Academy: Guild Mortgage is acquiring its friendly competitor Academy Mortgage, gaining 200 branches and more than 600 LOs in the process.…

Morning Roundup (2/15/2024) — Better VA Loans

Good Morning! Today is Thursday, February 15. One person was killed and at least 21 were wounded in a shooting at the Kansas City Chiefs’ Super Bowl celebration. The Senate is planning to reject the House’s impeachment of Biden’s homeland security secretary. Privately-owned Odysseus, a lunar lander, launched overnight. The Mortgage Note Reports Better VA Loans: Better launched a fully digital zero-down VA loan program designed to expedite and simplify the buying process for veterans. Aging In Place: Older Americans are choosing to age in their current homes, keeping average tenure at more than a decade and inventory tight for buyers. In other mortgage and housing news… Bills Pile Up: Arbor Realty Trust fueled a Sunbelt apartment boom, but many…

Morning Roundup (2/14/2024) — Future Of Profits

Good Morning! Today is Wednesday, February 14. Happy Valentine’s Day. House Republicans impeached Alejandro Mayorkas, Biden’s homeland security secretary. A vehicle crashed into a hospital emergency room in Austin, Texas, killing at least one person. William “Bill” Post, the man credited with inventing the Pop Tart, died at 96 years old. The Mortgage Note Reports Future Of Profits: Profits remained near record levels for sellers last year but they decreased for the first time since 2011. Writer Erin Flynn Jay asked industry leaders whether profits will continue to drop for sellers. Investors Return: Investors are back on the market now that rates are moderating, buying 26% of America’s most affordable homes in Q4 2023. Applications Down: Mortgage applications are up…

Morning Roundup (2/13/2024) — One-On-One

Good Morning! Today is Tuesday, February 13. The U.S. Senate passed a $95 billion aid package for Ukraine, Israel, and Taiwan in a 70-29 vote. The inflation rate in January was 3.1%, while core prices (excludes food and energy) were up 3.9%. CBS’s broadcast of the Super Bowl on Sunday night reached a record 123.4 million average viewers. The Mortgage Note Reports One-On-One: The senior vice president and chief marketing officer at Guild Mortgage has a message for loan officers: You are your brand. Adam O’Daniel recently sat down with Editor Kimberley Haas to discuss modern marketing. ICYMI: If you are ready to get off the sidelines and into the housing market, you are likely not alone in your quest…

Morning Roundup (2/12/2024) — Will Americans Vote On Housing?

Good Morning! Today is Monday, February 12. Israel reports it rescued two hostages from Hamas terrorists in Gaza. Vice President Kamala Harris told the Wall Street Journal she is “ready to serve” as reports raise questions about President Joe Biden’s fitness for office. The Kansas City Chiefs beat the San Francisco 49ers in overtime at Sunday night’s Super Bowl. The Mortgage Note Reports Swaying Voters: The affordability of homes affects every American family, but will it make an impact on who voters pick when they go to the polls this year? Editor Kimberley Haas has the story. MBA Response: MBA President Bob Broeksmit responded to comments by U.S. Treasury Secretary Janet Yellen who said that independent mortgage banks require regulatory…

Morning Roundup (2/9/2024) — Rates Barely Budge

Good Morning! Today is Friday, February 9. The FCC banned spam robocalls using AI voices. Two JetBlue planes collided on the tarmac at Boston’s Logan Airport. Biden called Israel’s military operations in Gaza “over the top.” The Mortgage Note Reports Little Rate Movement: Average rates stayed basically the same last week, inching up just slightly to 6.64%. Looking Back At Q4: Rates at 20-year highs and other ongoing issues kept affordability near a decade-low in Q4 2023, constraining the housing market. In other mortgage and housing news… Upward Pressure: More than 85% of metros registered home price increases in Q4 2023 as the 30-year fixed rate dropped from 7.79% to 6.61%. Scam Alert: The CFPB resolved an appeal in a…

Morning Roundup (2/8/2024) — Fall In Love With A Home

Good Morning! Today is Thursday, February 8. Israel rejected a ceasefire plan from Hamas. Senate Republicans blocked a bipartisan border bill. The Supreme Court will hear arguments today about whether Trump can be president again in the face of his efforts to overturn the 2020 election. The Mortgage Note Reports Falling In Love: This Valentine’s Day, if you are ready to get off the sidelines and into the housing market, you are likely not alone in your quest to find a place you love. Editor Kimberley Haas has the story. NC Discrimination: First National Bank of Pennsylvania will pay $13.5 million to settle redlining allegations raised by the DOJ and the State of North Carolina. Sales Down: Though rates have…

Morning Roundup (2/7/2024) — One-On-One

Good Morning! Today is Wednesday, February 7. Nikki Haley lost to the option “None of These Candidates” in Nevada and Donald Trump wasn’t on the ballot. A federal appeals court said Trump is not immune from prosecution over his efforts to overturn the 2020 election. Hamas proposed a 135-day ceasefire with complete Israeli withdrawal. The Mortgage Note Reports One-On-One: The leader of an analytics business that provides technology for companies in the mortgage space says they are on a mission to set a new standard for data integrity and trusted automation. Steve Smith, CEO of BaseCap Analytics, sat down with Editor Kimberley Haas. Positive Movement: Mortgage applications increased last week by 3.7%, countering a slip the week prior, as rates…

Morning Roundup (2/6/2024) — New OneTrust CEO, LoanCare Redesign

Good Morning! Today is Tuesday, February 6. Parts of Los Angeles are littered with debris after rain caused more than 120 mudslides. Britain’s King Charles III was diagnosed with cancer and will reduce his public appearances while he undergoes treatment. Country singer Toby Keith died yesterday at 62 after a battle with stomach cancer. The Mortgage Note Reports Website Redesign: Subservicer LoanCare has redesigned the website powered by its propriety software to be simpler and more consumer-focused. Hecht At OneTrust: Former Newrez exec and industry veteran James Hecht has been named the new CEO of OneTrust Home Loans. In other mortgage and housing news… “Blatant” Discrimination: A federal appeals court blocked a controversial Florida law restricting Chinese citizens from buying…