Good Morning! Today is Thursday, January 11. Chris Christie suspended his presidential campaign. Google laid off hundreds of workers to cut costs. South Africa is arguing in front of the U.N.’s highest court that Israel is committing genocide in Gaza.
The Mortgage Note Reports
Managing Risk: TransUnion launched a new tool to calculate property value fluctuations as more homeowners tap into their accrued equity.
Christensen At CMBA: Arrive Home president Tai Christensen has been named Chair of the California MBA’s Diversity, Equity & Inclusion Committee.
AI Hotline: A hotline that will give brokers the ability to make changes to approval letters at any time was announced by leaders at Rocket Pro TPO this week, and it is powered by artificial intelligence.
In other mortgage and housing news…
“Staggering Sum”: The total value of owner-occupied housing units in the 50 largest metros is $23.48 trillion, up about 38% from 2019 when it was $17.02 trillion.
Barrier To Entry: Millennials say high rates are their biggest barrier to homebuying, but three in four say they would accept an interest rate above 7% if they could later finance.
Early Signs Of Demand: As mortgage rates hold steady and new listings tick up, purchase applications and home tours are rising, Redfin says.
Foreclosures 2023: In 2023, foreclosures rose by 10% from 2022 but as a typical market correction, not a cause for alarm. They were down 28% from 2019.
HUD Funding: HUD will award $40M in grants to organizations that provide financial literacy and housing support to underserved communities.
Company News: Guaranteed Rate updated its RateReduce program; NRL Mortgage partnered with Calque to offer a buy-before-you-sell program.