Morning Roundup (1/2/2024) — Hedge Fund Ban

Good Morning! Today is Tuesday, January 2. Happy New Year! Israel’s Supreme Court struck down a law to limit judges’ powers. Some troops will be removed from Gaza, but Israel’s military did not indicate an end to the conflict. A powerful earthquake struck Japan on New Year’s Day, killing at least six.

The Mortgage Note Reports

Hedge Fund Ban: A bicameral bill that would force hedge funds out of the single-family home market is finding support. Writer Erin Flynn Jay has the story.

Opinion: American Enterprise Institute Senior Fellow Desmond Lachman writes that a looming commercial property crisis exists.

Buyers On The Sidelines: New home sales slowed to a crawl in November despite cooling rates as new construction remains unaffordable to the average American.

Cenlar Promotions: Mortgage subservicer Cenlar FSB promoted four of its leaders to Vice President and one to Director.

In other mortgage and housing news…

New Year Predictions: Multiple headwinds kept buyers and sellers on the sidelines of the housing market last year, but that could change in 2024…

Good Things Ahead: …Positive signs are already emerging, with Redfin reporting that new home sales saw their smallest drop since March 2022 leading up to Christmas.

RON In CA: NotaryCam said it will support remote online notarial acts in California beginning in 2024 following the passage of CA Senate Bill 696.

“Under So Much Pressure”: The slowdown in the housing market is threatening other sectors like home improvement and storage.

Snowiest Cities: Missed out on a White Christmas? Realtor.com rounded up homes for sale in America’s snowiest cities.