Morning Roundup (1/10/2022)– UWM In-Office Fight Continues, Fraud Costs Rising

Good Morning! Today is Monday, January 10. A fire in a Bronx apartment building killed at least nineteen people. Russian forces have surrounded Ukraine on three sides as diplomats meet in Geneva for talks. “Power of the Dog” and “Succession” won top honors at the Golden Globes, which did not air this year due to criticism over ethical lapses and a lack of diversity.

And in mortgage and housing news…

Are UWM Workers Being Unreasonable?: United Wholesale Mortgage turned heads in the industry last week when it was reported that health officials are investigating the company after receiving complaints about how they are handling COVID, which lead some people to ask why employees in lending are expected to be in their offices to begin with.

Fannie HPSI: Fannie Mae’s Home Purchase Sentiment Index fell in December as consumers split on homebuying and selling conditions.

Mortgage Fraud Rising: Mortgage lending fraud costs are 23.5% higher since the start of the pandemic, according to a new report from LexisNexis.

Under Pressure: Nearly half of homebuyers would feel more urgency to buy a home if rates climbed to 3.5% or higher, a new Redfin report found.

Squeezing Out Average Buyers: A Bloomberg analysis found that iBuyers like Zillow are selling thousands of homes to investors, often without even listing them.

Saving With Crypto: In Q4 2021, 12% of homebuyers said selling their cryptocurrency investments helped pay for their downpayment, according to Redfin.

LIHEAP Breakdown: The Biden administration released a state-by-state breakdown of funding for the Low Income Home Energy Assistance Program.

New M&T President: M&T Realty Capital Corporation named former Freddie Mac executive Michael Edelman president of the organization.

“Timeline Is King”: The supply chain bottlenecks are forcing homeowners to move into unfinished homes as builders struggle to keep timelines on track.