Morning Roundup (10/6/2021)– Loan Apps Plummet, YOY Price Growth Makes History

Good Morning! Today is Wednesday, October 6. Some Democrats propose changing the filibuster to bypass fighting about the debt limit. Johnson & Johnson asked the FDA to approve its Covid-19 booster shot. The Justice Department is reviewing its decision not to prosecute the FBI agents who disregarded allegations about Larry Nassar and later lied about their actions.
And in mortgage and housing news…

Loan Applications Plummet: Mortgage loan application volume fell 6.9% last week to a three-month low, according to the MBA’s most recent survey.

Black Knight: Huge equity increases for homeowners might not be enough to prevent foreclosures, according to Black Knight’s latest Mortgage Monitor Report.

Price Growth Breaks Record: Annual home price growth hit its highest point in the history of the CoreLogic U.S. Home Price Index in August, at 18.1%.

Alt Construction: Construction companies are opting to find alternative materials despite higher costs and complications to avoid putting housing projects on hold.

FAM: Finance of America announced a new refi product to consolidate ADU financing with a borrower’s primary mortgage.

UniversalCIS Merger: Credit data provider UniversalCIS is merging with mortgage verification, business credit reports provider Credit Plus.

Forbearance Deadline Extended: The deadline to request initial forbearance for HUD/FHA, USDA, or VA backed loans has been extended until the National Emergency put in place for the pandemic officially ends.

Facebook Leads: More than half of realtors said that social media was their top lead-generating technology tool, according to a survey from NAR.

Team-Up: The Urban Institute and the Federal Home Loan Bank of San Francisco are launching a new research and product development initiative tackling racial homeownership gaps.

Bezos’ Portfolio: Jeff Bezos is one of the top 25 landowners in the U.S. Here’s a look at the properties he owns.