Morning Roundup (10/15/2021)– Forbearances Still Falling, UWM Backpedals On Crypto

Good Morning! Today is Friday, October 15. An FDA panel recommended booster shots for high-risk Moderna recipients. LinkedIn is shutting down in China, the last major social network to shutter there. Retail sales rose a seasonally adjusted 0.7% in September from the month before, the U.S. Commerce Department said.

And in mortgage and housing news… 

Black Knight: Forbearances dropped another 10% this week, and they are now at their fastest rate of improvement since the pandemic began.

Was Ishbia’s Crypto Move a ‘Stunt?’: After accepting just six cryptocurrency mortgage payments, UWM has signaled it’s not ready to do more.

Millennials Vs. Boomers: A Zillow report found Millennials and Boomers are competing for housing, and Boomers are winning.

Redfin: The number of homes selling within their first or second week on the market is rising, going against the usual fall trends of a market slowdown.

CFPB Changes At The Top: Newly appointed CFPB director Rohit Chopra appointed four higher-ups.

Remodeler Confidence Up: Residential remodelers’ confidence in their market rose this quarter and is five points higher than Q3 2020.

Ginnie Breaking Records: Ginnie Mae issued a record number of mortgage-backed securities in the 2021 fiscal year.

Interfirst Fundraising: Chicago-based mortgage originator Interfirst Mortgage has raised $175 million just 16 months after restarting its operations. 

Supply Chain Still Choking Economy: Fannie Mae’s ESR group reported that supply constraints continued to cap economic output for the third consecutive month.

Q3 Foreclosures: U.S. foreclosures increased 34% since the last quarter, according to ATTOM’s Foreclosure Market Report.