Good Morning! Today is Wednesday, January 18. Investors are seeking billions of dollars in damages in a trial over Elon Musk’s tweets from 2018 proposing to take Tesla private. A helicopter crash near Kyiv killed at least 18 people. Harvard Medical School is withdrawing from U.S. News and World Report rankings.
The Mortgage Note Reports
Fighting For Broker Freedoms: The new executive vice president of Rocket Pro TPO took to social media on Tuesday to question the actions of United Wholesale Mortgage’s CEO, saying one of the most powerful benefits of being a mortgage broker is independence. Editor Kimberley Haas has the story.
Loan App Boost: Mortgage loan application volume saw a double-digit increase last week as buyers chasing sinking rates begin returning to the market.
BMO Embraces Digital: BMO has partnered with Blend Labs and FHLBank Chicago to allow eligible U.S. customers to refinance online with no in-person requirement.
Listen To Our Podcast: This podcast highlights the successes and innovations taking place in the mortgage industry.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.
In other mortgage and housing news…
PPI Surprise: Producer prices dropped by 0.5% in December, a far sharper decline than expected, suggesting inflation is beginning to ease.
Builder Confidence: After a full year of declines, builder confidence ticked up after interest rates began retreating.
Shifting Towards Balance: Sales were down 38% YOY in December while the number of homes for sale was up 69% in 53 metro areas examined by RE/MAX.
Multifamily Delinquencies: Commercial and multifamily mortgage delinquencies saw a boost in Q4 2022, though they continued to perform well.
Legacy x Crain: Legacy Bank has acquired Dallas-based Crain Mortgage Group through a subsidiary, and will rebrand it as Legacy Capital.
Edge Update: RiskSpan announced it has incorporated Fannie Mae’s and Freddie Mac’s Single-Family Social Index data into its Edge Platform.
Best In Class: Realtor.com has the best markets for first-time homebuyers, while StorageCafe ranks cities with the best downtown living hotspots.