Morning Roundup (11/4/2024) – Homebuyer Holiday Cheer

Good Morning! Today is Monday, November 4. Nearly 75 million people cast early ballots. Iran says it is planning a complex attack on Israel with even more powerful warheads and other weapons. Celebrated music producer Quincy Jones died at 91.

The Mortgage Note Reports

Holiday Cheer: This year, the holiday season will present “a unique opportunity” for homebuyers. Writer Chuck Green has the story.

Discrimination Penalty: Mortgage broker Townstone Financial is set to pay $105K to resolve redlining allegations in Chicago.

Coming Together: loanDepot teamed up with builder Smith Douglas Homes to provide streamlined financing options for new home buyers.

Tech Podcast: As lenders work to stay on top of advances in AI, companies are hiring the top minds in mortgage technology. Editor Kimberley Haas spoke with Rocket Pro TPO GM Dan Sogorka, who joined the company in September.

In other mortgage and housing news…

Early Reports: Nearly 40% of people who already voted said housing affordability impacted their presidential pick.

Election Watch: The anticipation of a Trump win is sending mortgage rates soaring. Top economists say scorching inflation is very likely to go with it.

Big Surprise: Recent rate increases have probably been “very surprising for Fed officials,” cutting short a brief honeymoon period after the Central Bank’s September cut.

Disaster Relief: HUD devoted $1.7 million to Asheville, North Carolina, to assist with recovery efforts in the wake of Hurricane Helene.

Heed These Warnings: Ponzi schemes seem to be in constant supply in the real estate industry. One RI mortgage broker fessed up to a $1.5M scam.

Vets Left Behind: Planet Money explores how the VA’s COVID forbearance program stranded tens of thousands of veterans on the brink of foreclosure.