Morning Roundup (10/21/2021)– Rates Climb, MBA Warns Of “Aggressive” Regulation

Good Morning! Today is Thursday, October 21. U.S. unemployment claims fall to a new pandemic low of 290,000. The gunman in the Parkland school shooting pleaded guilty to 17 counts of murder. Donald Trump is launching a new social media platform, TRUTH Social.

And in mortgage and housing news…

Freddie Mac: Mortgage rates continued climbing, hitting 3.09% over the past week, Freddie Mac reported.

“In Front Of Every Fight”: MBA President and CEO Bob Broeksmit said that “aggressive” federal regulation is back but that the MBA would fight tax hikes on mortgage servicing.

Advocates Rally For “Robust” Spending: Housing stakeholders gathered at the capitol to call for the budget reconciliation package being negotiated in Congress to substantially represent housing. 

Runaway Demand: Demand for homes has grown 15 times faster than supply since 2019, with market pace picking up in a season when it usually slows.

ASC Review: The ASC said it is conducting a “comprehensive legal and policy review” of appraisal standards and appraiser qualifications nationwide.

ICE Offers 0% Loans: ICE Mortgage Technology’s Encompass update offers 0% loans to HFA borrowers.

Non-QM Analyzer Unveiled: Sprout Mortgage revealed an originator-focused digital mortgage tool for analyzing non-QM bank statements.

Libor Update: Regulators have clarified what constitutes Libor-related contracts, which will be phased out by the end of the year.

Inflation, Fed Action: Mortgage rates could begin to change in the coming weeks as the Federal Reserve rolls back pandemic measures.

Fannie And CRT: Fannie Mae completed its first structured single-family credit risk transfer since the pandemic began

“Universal Basic Rent”: Would rental assistance in the form of cash prove more effective than the cumbersome housing-voucher program?

New Blend Product: Blend announced a new income verification program for its cloud banking platform.