Morning Roundup (11/1/2022) – Homes Not Moving, Rocket Rewards

Good Morning! Today is Tuesday, November 1. Donald Trump asked the Supreme Court to block a House committee from seeing his tax returns. Kyiv lost running water for hours after Russian missiles struck city infrastructure. A judge blocked the merger between the publishers Penguin Random House and Simon & Schuster.

The Mortgage Note Reports

Homes Not Moving: Homes are still selling at a rapid pace but are remaining on the market longer than last year’s crazy pace as buyers retreat from the market.

Rocket Rewards: Rocket Companies has rolled out a rewards program that allows consumers to get points towards various transactions across Rocket’s platforms.

ICYMI: Our most popular article in October was by Writer Chuck Green. He reports that during the pandemic homebuyers fled to southern states for warmer weather but now would-be purchasers are bailing out of deals at a faster clip than anywhere in the country.

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…

New Cloze: Cloze released a new product that enables real estate brokerages to increase profitability by uncovering insights hidden within their own unstructured data.

Rocket’s Pains: America’s largest home lender harnessed a generation of low rates to refinance millions of mortgages, but switching focus is proving to be a challenge.

Bias In Tech: Veros Real Estate Solutions released new research that finds no evidence of racial bias in its automated valuation model, providing a way for lenders seeking tools to identify potential racial bias in home valuations.

Fraud Risk: Wire and title fraud risk increased to a new high in Q3 with just under half of all real estate transactions having at least one indicator of a potential problem.

OCC Symposium: The Office of the Comptroller of the Currency will host a symposium on bank mergers at its headquarters in Washington, D.C., on February 10, 2023.

Rent Scares: Rent prices have dipped nationally for two months, down 0.7% in October, though they continue to remain high compared to pre-pandemic numbers.

Caliber Suit: Caliber Home Loans is suing Union Home Mortgage for unfair competition, accusing it of allegedly raiding dozens of its employees.