Good Morning! Today is Friday, January 14. The Supreme Court blocked the Biden administration from enforcing a vaccine-or-testing mandate for large employers. Australia canceled Novak Djokovic’s visa for a second time, days before the Australian Open. The leader of the far-right Oath Keepers militia was charged with seditious conspiracy in the Capitol riot investigation.
And in mortgage and housing news…
Forbearance Exits Remain High: Of single-family homeowners who entered Covid-19 related forbearance, 89% have now exited their plans, according to Black Knight.
Rates Climb Again: Mortgage rates jumped significantly this week, up to an average of 3.45% from 3.22%, Freddie Mac reported.
Vice Chairwoman: President Biden will nominate Sarah Bloom Raskin, a former top Treasury Department official, to serve as the Federal Reserve’s top banking regulator, the White House said.
Warren Doubles Down: Elizabeth Warren sent letters to several housing firms asking about recent rent hikes and future plans to buy property, doubling down on her criticism of private equity’s involvement in the housing market.
Growing Disparity: A Zillow analysis found that while overall denial rates have decreased, Black applicants are increasingly more likely than white borrowers to be denied a mortgage.
FHA Changes: The FHA is increasing its exclusive listing period on certain HUD-owned homes to allow more time for owner-occupants, nonprofits, and governmental entities to submit bids before they become eligible to investors.
New CoreLogic CEO: CoreLogic announced that Pat Dodd has been appointed to the position of interim President & CEO, replacing Frank Martell.
KB Home Results: Navient has agreed to cancel $1.7 billion in student loan debts as part of a settlement announced Thursday with 39 state attorneys general.
Thompson Hearing: In her confirmation hearing, Sandra Thompson said she would defer to Congress on whether to end the conservatorship of Fannie and Freddie.
Planning To Move: Nearly 40% of Americans are considering moving in 2022, with nearly half hoping to buy a home in the process, according to a LendingTree survey.
Month In Review: NMP released Mark Paoletti’s monthly Mortgage Economic Review.