Good Morning! Today is Thursday, October 7. Facebook has slowed the release of new products for “reputational reviews.” GM wants to double its revenue by 2030 with battery-electric models and auto services. WHO approved the first Malaria vaccine. A federal judge issued a preliminary injunction blocking the Texas abortion ban.
And in mortgage and housing news…
Freddie: Mortgage rates fell slightly to 2.99% over the past week, Freddie Mac reported.
Non-QM Tech: Angel Oak Mortgage Solutions is focusing on streamlining the process of closing non-QM loans so that it more closely resembles closing an agency loan.
Averages Rise: The average homebuyer’s monthly mortgage payment rose $50 over the last six weeks.
Hispanic Homeowners: Hispanic homeowners are driving the U.S. market. Realtor.com put together a profile of the average Hispanic seller.
Alt Construction: FHFA appointed Matthew Feldman Chairman of the Board of Managers at CSS, as it starts to transition into corporate structures more focused on supporting Fannie and Freddie’s infrastructure.
Delinquencies Down: Delinquency rates for mortgages backed by commercial and multifamily properties declined in September, according to the MBA.
Foreclosure Analysis: Black Knight took a granular look at what markets might be most vulnerable to foreclosure.
New HUD Eviction Rules: HUD announced that it will publish a rule prohibiting eviction for nonpayment of rent from HUD-funded properties without providing a 30-day notice period that includes information about available federal emergency rental assistance.
Economic Review: The October Mortgage Economic Review summarizes economic indicators, data, and events relevant to mortgage and real estate professionals.
Team-Up:Snapdocs and Freddie Mac teamed up on a new program to address tech issues that hinder the adoption of eMortgages and eNotes.
RealFi Lawsuit: A former marketing director at RealFi accused the company’s top male executives of creating a toxic workplace through repeated sexual harassment and gender discrimination.