Morning Roundup (10/19/2022) – No Surprises With Loan Apps, Freddie Promotions

Good Morning! Today is Wednesday, October 19. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, donated more than $84 million to the Girl Scouts. Netflix added 2.4 million subscribers in the past three months, reversing declines from the previous two quarters. Putin signed a law introducing martial law in four Ukrainian regions the Kremlin has sought to annex, in violation of international law.

The Mortgage Note Reports

No Surprises With Loan AppsMortgage loan application volume has now declined for four months and fallen to its lowest level since 1997.

Freddie Promotions: Freddie Mac Multifamily has promoted two new underwriting vice presidents, Caitlin Myhre and Adam Monti.

One On One: Editor Kimberley Haas interviewed Austin Niemiec, Executive Vice President at Rocket Pro TPO, after he turned heads with an opinion piece claiming United Wholesale Mortgage represents a massive threat to America’s mortgage brokers and their future independence.

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…

Housing Starts: Housing construction declined in September and permit applications for single-family dwellings fell, evidence that mortgage rates are discouraging new builds.

Price Declines Stall: The typical U.S. home value stayed steady from August, halting declines in previous months, though home prices are still up 44% from 2019.

FHA Proposal: The FHA proposed a rule to increase loan limits for manufactured homes as part of its efforts to promote them as an option for homebuyers.

Buyers And Sellers, Both: Home sales and listings saw their largest YOY declines on record in September, excluding the first few months of the pandemic.

“Meaningful Options”: One broker says the mortgage industry should quit moaning about the downturn and instead offer solutions to bring buyers back to the market.

Housing Outlook: Housing market potential sagged to its lowest point since May 2020 in September, but buyers can still take advantage of cooling prices.

Crypto Sales Roofstock, a digital real estate platform, sold a single family home in South Carolina for $175,000 using the USDC stablecoin, a cryptocurrency.