Good Morning! Today is Tuesday, November 7. It’s Election Day. Israel pushed further into Gaza City, sending troops into an urban Hamas stronghold. WeWork filed for bankruptcy after its stock fell more than 98% this year. Iowa’s Republican Gov. Kim Reynolds has endorsed Ron DeSantis for president.
The Mortgage Note Reports
Spirit Of Giving Back: Team members at Rocket step up to better the communities they serve. Editor Kimberley Haas sat down with Laura Grannemann, executive director of Rocket Community Fund, to learn more about the company’s initiatives and how they encourage employees to donate their time and talents.
New Lender: Newrez announced a new venture mortgage company, Carnegie Mortgage Partners, another partnership with Keller Williams.
Smith At loanDepot: Military lending expert David Smith has been promoted to VP of National VA Lending at loanDepot, a newly created role.
In other mortgage and housing news…
“Wrong Track”: Consumer frustration toward housing unaffordability and an economy battling inflation continue to depress home purchase sentiment in October.
Mortgage Monitor: ICE says that with equity at near-record levels, lenders need to identify and market to the borrowers most likely to tap into that money.
Price Gains: Single-family home prices rose by 4.5% YOY in September, the third month of acceleration and the highest growth since early 2023, CoreLogic said.
Industry Mourns: Former Finance of America CEO Patti Cook has died at 70.
Condo Underwriting: CondoTek and Mortgage Guaranty Insurance Corp. launched a new All-In-One Condominium Compliance underwriting solution.