Good Morning! Today is Monday, January 15. Today we celebrate the life and legacy of Martin Luther King. Denmark has a new king, Frederik X. Much of the U.S. was plunged into a deep freeze this weekend, with severe low temperatures. Iowans are caucusing today in the first test for the 2024 presidential candidates.
The Mortgage Note Reports
Moving Forward: Wells Fargo released its fourth quarter 2023 financial results on Friday and leaders there say as they continue to streamline their home lending business profitability will improve.
Ally CEO: Doug Timmerman was named interim CEO of Ally Financial following the departure of Jeffrey J. Brown.
Best For First-Timers: These are the top cities for first-time buyers in 2024, ranked on everything from “culture and liveliness” to expected sales and price growth in the nation’s 100 largest metros.
In other mortgage and housing news…
Feeling The Pain: Wells Fargo, JPMorgan Chase, and Bank of America originated about $80 billion in mortgages total in 2023, down from nearly $218 billion the prior year.
Mortgages At Court: The Supreme Court will hear a case vetting a New York law requiring that interest be paid on mortgage escrow account funds…
Impact Fees: …on the heels of another housing issue just presented at the highest court, Sheetz v. El Dorado County, with major implications for new CA construction.
Construction Boom: This year, the housing market is poised for the largest influx of multifamily housing supply since the Nixon era.
Breaking Bad Habits: A “Dry January” mindset can get you closer to buying a home in 2024. Here’s how.