Good Morning! Today is Tuesday, December 14. Members of the Federal Open Market Committee begin their two-day policy-setting meeting today. Larry Nassar’s victims reached a $380 million settlement. The Supreme Court turned down emergency requests by New York healthcare workers for a religious exemption from state requirements to vaccinate against Covid-19.
And in mortgage and housing news…
Rental Rates Skyrocket: More than a quarter of the states in the country have experienced a rental price increase of 20% or more in 2021 and a senior research analyst says people moving out of cities and into more rural communities are partially to blame.
November 2021 Originations: Rate lock volume fell 4.7% month-over-month in November, Black Knight’s latest Originations Market Monitor report found. It is the third straight month of overall declines.
Divvy And zavvie: Divvy Homes’ rent-own-own program is now part of zavvie’s expanded brokerage marketing place.
Top 10 Of 2021: Redfin released a list of ten records set in the housing market in 2021, highlighting how the pandemic has changed the industry.
Forward Thinking: Experts weigh in on what the housing market will look like in 2022.
“Definitely A Trend To Watch”: The National Multifamily Housing Council’s annual renter survey showed 46% of renters said they would consider joining an apartment version of a vacation club, which would allow residents to live in several different cities over the course of a year.
AAG CCO: American Advisors Group named Kristina Larese as the company’s new chief compliance officer.
Infrrd For Mortgage: Infrrd has launched Infrrd for Mortgage, an AI-based IDP technology that extracts and manages essential information from mortgage borrowers’ documents.
The Evergrande Saga Continues: Hui Ka Yan, chairman and founder of Evergrande, has been forced to sell shares in the company totaling 64 million USD.
HUD Non-Profit Sale:Non-profits purchased 800 mortgage notes through a HUD Vacant Loan Sale.
Parthenon Buys Kroll:Parthenon Capital Partners will purchase a majority stake in Kroll Bond Rating Agency LLC, valued at $900 million including debt.
FHFA Calls for Review: FHFA plans to review the GSEs’ contingency plans for the National Mortgage Database and Correspondence Tracking System, which an audit found weren’t regularly tested.
Letter From The AG: NY AG Letitia James reminded mortgage servicers that they need to provide long-term relief to homeowners impacted by Covid-19 and said her office’s Mortgage Enforcement Unit would help distribute new homeowner assistance funds.