Morning Roundup (10/10/2022) – Loan Locks, CRA Note Exchange

Good Morning! Today is Monday, October 10. Explosions in Ukraine killed at least ten people this morning in the most sustained missile assault in months. A landslide in Venezuela killed 22 people. The Los Angeles City Council president is facing calls to resign after a leaked audio recording revealed she made racist remarks.



The Mortgage Note Reports

Loan Locks: September loan lock volumes dipped almost 10% from August, the third straight month of lock activity below pandemic norms.

O’Doherty At Mizuho: Joseph O’Doherty is joining Mizuho Americas as Managing Director, Head of Residential Mortgage Finance.

CRA Note Exchange: Habitat for Humanity Affiliates in Florida and South Carolina can now build more affordable homes after a recent sale of mortgage notes on their behalf.

What questions would you like us to ask the experts? Share your thoughts by emailing us at [email protected].

In other mortgage and housing news…

Stone Or Rock?: Asset manager BlackRock is facing backlash for a housing grab that’s allegedly worsening the affordability crisis– but “America’s Landlord” Blackstone Group is actually behind it.

BOA Pays Out: Bank of America will pay $1.84B to settle claims about residential mortgage-backed securities, its final lingering legal challenge stemming from the 2008 financial crisis.

Regions SVP: Sean Creedon has joined Region’s Affordable Housing Division as senior vice president and relationship manager for its Real Estate Banking group.

Starter Home Shortage: Why do perfectly fine small homes that offer an affordable option for many buyers become tear-downs, replaced with larger, more expensive ones?

Fall Market Outlook “Buyers and sellers will both endure a tough fall housing market,” according to Home.com’s CEO, with volatile prices all but ensuring a slowdown.

Scam Alert: Hackers are targeting hopeful homebuyers with a novel way to intercept wire transfers for down payments. The Secret Service is on the case.

Garg’s Confessions: Better.com’s infamous Vishal Garg remains CEO despite criticism. He sat down for an interview to explain why he’s still leading the company. 

FOA Loses Wholesale: Finance of America is ditching wholesale and correspondent lending, and is supposedly in negotiations to sell its retail mortgage division.