Morning Roundup (1/13/2022)– Foreclosure Filing All-Time Low, Mortgage Applications Up

Good Morning! Today is Thursday, January 13. Donald Trump endorsed booster shots and said politicians who hid their vaccination status were “gutless.” Kevin McCarthy, the top House Republican, said he would not cooperate with the House committee investigating the Capitol riot. More than 8,000 unionized employees at Kroger’s King Soopers stores in Denver went on strike on Wednesday.

And in mortgage and housing news…

Mortgage Applications Up: Mortgage loan application volume rose 1.4% from last week, though refis once again fell, MBA reported.

All-Time Low: ATTOM’s Year-End Foreclosure Market Report found foreclosure filings dropped to an all-time low in 2021, down 95% from a peak of nearly 2.9 million in 2010.

Forty-Year High: The BLS’s Consumer Price Index reported that inflation was at an almost 40-year high year-over-year increase in December at 7%, with core inflation at 5.5%.

AIMI Positive: Freddie Mac’s Multifamily Apartment Investment Market Index remained positive in Q3 2021 driven by net operating income growth, bolstering the investment environment for multifamily properties.

RM Ruling Vacated: The Supreme Court vacated a ruling against Rocket Mortgage overturning a $9.7 million judgment in favor of 2,769 West Virginia mortgage borrowers.

KB Home Results: KB Home reported its Q4 2021 and year-end results, with Q4 totaling revenue of $1.68 billion.

Redfin Acquisition: Redfin announced it is buying Bay Equity Home Loans, a full-service mortgage lender for $135 million in cash and stock.

MIAC Offering: The Mortgage Industry Advisory Corp is offering a $6.23 billion package of servicing rights on behalf of an unnamed seller.

Mello Upgrades: loanDepot is upgrading its mello®Broker Portal to streamline the closing process for brokers and settlement agents.

BHHS Expansion: Berkshire Hathaway HomeServices is expanding in the Pacific Northwest and South Carolina.

UMortgage Addition: UMortgage, run by former AIME head Anthony Casa, announced that Michigan-based mortgage brokerage The Bally Team has joined its corporate portfolio.