Morning Roundup (1/28/25) – Down Payment Help

Good Morning! Today is Tuesday, January 28. The Justice Department fired employees who worked on criminal prosecutions of President Trump. The White House budget office ordered a pause in all federal loans and grants. New Zealand loosened visa requirements for remote workers.

The Mortgage Note Reports

Down Payment Help: As home prices and mortgage rates remain stubbornly high, first-time buyers hoping to hit the market in early 2025 could benefit from down payment assistance programs. Editor Kimberley Haas has the story.

Price Data: Home price appreciation reversed a downward trend in November thanks to demand in Northeastern cities propping up national numbers.

PMG Leadership: Philip Riccio has been named Panorama Mortgage Group’s new chief financial officer.
Quote Of The Day

“With the exception of pockets of above-trend performance, national home prices are trending below historical averages.”

Brian D. Luke, S&P Dow Jones Indices

In other mortgage and housing news…

WF Win: Wells Fargo’s 2022 consent order with the CFPB related to automobile lending, consumer deposit accounts, and mortgage lending has been terminated.

Tough Market: The number of newly built homes for sale on the market is at the highest level since 2009, but housing costs won’t budge, keeping buyers strapped.

Pay Down Debt: Mortgage holders who take advantage of cash-out refinances see their credit scores improve, the CFPB says.

Company News: Home equity fintech Splitero expanded into Florida, Nevada, Ohio, Pennsylvania, and South Carolina.

Celebrity Selling: Actress Gwenyth Paltrow sold her Brentwood mansion in Los Angeles for $22 million, eight months after putting it on the market for close to $30 million.