Morning Roundup (10/31/2022) – What’s Scaring Brokers?

Good Morning! Today is Monday, October 31. Jair Bolsonaro, Brazil’s divisive far-right leader, lost his re-election bid to Leftist Leader Luiz Inácio Lula da Silva. The Supreme Court will hear arguments today on admissions policies at Harvard and at the University of North Carolina. A crowd surge killed more than 150 people including children and travelers during Halloween festivities in Seoul.

The Mortgage Note Reports

What’s Scaring Brokers?This Halloween, brokers have more to fear than ghosts and ghouls. Layoffs, price declines, and rising interest rates are far more terrifying.

MM CIO: Lyra Waggoner joined Movement Mortgage as its chief information officer.

Have your political beliefs influenced where you have bought a home? We want to know. Share your stories by emailing us at [email protected].

In other mortgage and housing news…

Election Impact: More than half of renters say that housing will be a key issue for them in the midterms next month. How will they vote?

Moving To Save?: A record number of homebuyers looked to move to a different metro in Q3 2022, seeking out more affordable areas.

Seeing The Light: Homebuyers are having a “come to Jesus” moment about the market, leading to anxious sellers removing their listings rather than praying for an offer.

Execs Weigh In: Fannie Mae asked more than 200 senior mortgage execs about what’s driving changes in loan origination costs and the impact of their tech investments.

FAM Staffers Move To APM… Former employees at Finance of America Mortgage, which will close by year-end, are transitioning to American Pacific Mortgage.

…More Layoffs: Finance of America is closing its Conshohocken, PA, office as it ends its residential mortgage business, resulting in another 101 layoffs.

Default Scare: Mortgage defaults are climbing among the highest-risk category of borrowers, a trend seen by some as a bellwether of a weakening economy.

Take A Look: Want spooks all year long? These haunted houses are for sale.