Morning Roundup (10/16/2023) — MBA Expo

Good Morning! Today is Monday, October 16. President Biden said Israel should not reoccupy Gaza in wake of terrorist attack. GOP Rep. Jim Jordan (R-Ohio) still faces “10-20” holdouts as House speaker vote looms, Republicans say. Rite Aid filed for bankruptcy as it faces more than a thousand lawsuits over opioid prescriptions.

The Mortgage Note Reports

MBA Expo: TMN Editor Kimberley Haas is reporting from the MBA’s annual convention in Philadelphia, which kicked off Sunday with some good news for lenders from MBA chief economist Michael Fratantoni.

Scary Expensive: Homeowners have plenty to fear this Halloween as the rising cost of candy and decorations pushes holiday spending projections to record highs.

IMB Essentials: Banking platform Blend is betting on IMBs with its latest offering, a bare-bones, low-cost product for small lenders.

In other mortgage and housing news…

Home Price Jump: House prices continue to set new records, according to First American’s HPI, as buyers compete for the few homes available for sale.

Building Bright Spots: Although national trends point toward a significant slowdown, these 90 metros saw permitting activity increase during the first half of the year.

Realtor “Cartel”: Realtors face a major legal challenge today as a federal jury trial begins in a class action against rules that raise the cost of buying and selling homes.

In And Out: About 33 states saw more people move in than out from other states last year, mostly in the Mountain West, while 18 states lost residents.

Company News: Fintech Forta Solutions launched a warehouse lending platform; Dark Matter tapped former ICE Mortgage SVP Stephanie Durflinger as CPO.