Morning Roundup (10/21/2024) – Homebuyer’s Remorse

Good Morning! Today is Monday, October 21. Pennsylvania governor Josh Shapiro called for an investigation into Elon Musk after he promised to give away $1 million every day until the election at a Trump rally. King Charles was accused of genocide by an Indigenous senator at Australia’s Parliament House. One of the last Navajo Code Talkers, who helped secure victory in World War II, has died. 

The Mortgage Note Reports

Homebuyer’s Remorse: A majority of Millennials who have purchased homes say they are disappointed with their choices. Writer Chuck Green has the story.

Assistance Options: More homebuyer assistance programs appeared in Q3 2024 as home shoppers struggled with ongoing unaffordability.

Tech Update: LoanCare added a new suite of tools to its servicing platform, connecting homeowners with information about their home equity options.

In other mortgage and housing news…

Dreams Out Of Reach: For many Americans, the long-standing building blocks of middle-class life — homeownership, car ownership, and child care — feel unattainable.

Are You Ready?: Veterans United launched a homebuying readiness index analyzing financial aptitude and optimism among prospective buyers, both civilian and military.

Company News: Be My Neighbor obtained its broker license in the state of New Mexico; Total Expert released a text messaging tool for lenders and clients.

Bad News: Prices for FICO scores are predicted to rise again in 2025.

Fleeing Florida: California-based lender Provident Funding told broker partners that it would not accept any new applications for Florida condos.

The Math Won’t Math: Developers aren’t afraid to build in high-risk areas despite fires and floods, but insurance experts are warning lenders that the stakes are too high.