Good Morning! Today is Tuesday, October 19. DC suspended half of its metro trains after a series of derailings. Lawmakers accused Amazon leadership of misleading or lying to Congress about its business practices. Democrats looking for funding for Build Back Better are bringing back the idea of a carbon tax.
And in mortgage and housing news…
Red States See Biggest Home Price Jumps: The housing market in red states is white-hot compared to their blue counterparts. Here’s why.
LendingHome New CRO: LendingHome announced that senior executive Carrie Weber has joined the company as chief risk officer.
Zillow Offers Taking A Break: Zillow’s home-flipping business, Zillow Offers, will stop signing new contracts in order to address renovations on homes it already owns.
DOJ Fighting NAR Petition: The DOJ has filed a lawsuit claiming it is within its rights to investigate NAR, in response to the association’s allegation that it violated an agreement. “Contrary to NAR’s suggestions, the Division never committed to refrain from further investigation into NAR and its practices,” the filing reads.
FHFA Affordability Initiatives: The FHFA announced two measures to advance the affordability of homeownership for underserved communities.
New Wemlo Tech: Loan processing start-up Wemlo announced a new processing technology, called the Loan Brokering System.
Desktop Appraisals Stay: FHFA said desktop appraisals, which were meant to be a temporary response to Covid-19 restrictions, will stick around.
Nationwide COO: Nationwide Mortgage Bankers named Nate Hernandez as chief operating officer.
ICE Indices: Intercontinental Exchange Inc. launched a new set of transaction-based residential mortgage rate indices, to be calculated daily.
Bitcoin For Everyone: The SEC is approving investment funds that track Bitcoin, but critics of cryptocurrency say it’s dangerous.
Common Haus: The price of the most common home in the U.S. was $349,096 this week.