Good Morning! Today is Tuesday, January 25. President Biden was caught cursing about a Fox News reporter on a hot mic. Stocks continued a selloff at the opening bell this morning as investors worry over Fed policies and global politics. The Supreme Court will hear cases challenging affirmative action, focused on Harvard and the University of North Carolina.
In mortgage and housing news…
The Mortgage Note Reports
Victims of Mortgage Ponzi Scheme Can Seek Compensation: People who were victimized by what investigators have called the biggest Ponzi scheme in New Hampshire history can apply for compensation.
Big Cities Making A Comeback: More expensive, populated housing markets appeared on the quarterly Wall Street Journal/Realtor.com® Emerging Housing Markets Index, which could signal a major shift in real estate.
Other Industry Highlights…
FirstAm Real House Price Index: The fear of missing out on low rates and the potential loss of house-buying power may supercharge the housing market ahead of the spring home-buying season, according to First American Chief Economist Mark Fleming.
Ginnie Mae: Ginnie Mae announced that it is streamlining its documentation requirements for servicers participating in the FHA Advanced Loan Modification (ALM) program, eliminating the requirement for recordation and title insurance.
Looking Bullish: High demand for apartments will bring about another strong year in multifamily, according to Yardi Matrix’s U.S. Multifamily Outlook for Winter 2022.
Maryland Lawsuit: Carrington Mortgage Services faces a lawsuit alleging the convenience fee it charges mortgagors for making payments online or by phone violates Maryland consumer protection law.
HUD Appointments: HUD appointed four new members to the Housing Counseling Federal Advisory Committee, representing the mortgage industry, the real estate industry, consumers, and HUD-approved housing counseling agencies.
Blackstone Acquires Resource REIT: Blackstone Real Estate Income Trust is acquiring Resource Reit in a $3.7 billion deal.
“It Could Be Even Higher”: AEI’s Ed Pinto says the housing boom isn’t over yet, predicting a 12% increase in 2022.
Caliber CEO Stepping Down: Sanjiv Das is leaving Caliber Home Loans less than one year after the lender was acquired by New Residential Investment.
Bad Apples: Two Atlanta real estate agents at the center of a years-long mortgage fraud scheme pleaded guilty to conspiracy charges.