Good Morning! Today is Thursday, December 15. The House passed a bill to temporarily avert a government shutdown and push back the deadline for a longer-term spending bill. Peru declared a state of emergency to quell deadly protests that began after the president was removed from power last week. New Zealand banned cigarette sales to everyone born after 2008.
The Mortgage Note Reports
Allegations: The attorney general of Pennsylvania, who won the race for governor in November, announced on Wednesday that he is suing a Florida-based brokerage firm and its founder, saying the company scammed consumers. Editor Kimberley Haas has the story.
Flipping ROI Sinks: Home flippers are feeling the sting of the housing market correction, seeing flips fall for a second quarter as profit margins hit a 13-year low.
Flyhomes Exec Hires: Andrea Collins and Dan Richards join Flyhomes as Chief Marketing Officer and Executive Vice President of Mortgage.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.
How are you helping your community this holiday season? We want to know. Share your story by emailing us: [email protected]
In other mortgage and housing news…
Retail Sales: US retail sales saw the largest monthly drop since December 2021 in November, suggesting some easing in Americans’ demand for merchandise.
Live-Work-Play: LWP developments are on the rise, with 512 communities built across the nation since 2012, with another 101 in the works just through 2024.
Data 2015-2020: The CFPB and FHFA published updated loan-level data for public use collected through the National Survey of Mortgage Originations.
Ishbia’s MSU Gifts: A Michigan judge has ordered Michigan State University to turn over gift agreements between the university and Mat Ishbia, as well as another donor.
Builders Woo Wall Street: Homebuilders are offering “sweetheart” deals to Wall Street as the housing correction intensifies and inventory sits unsold.
Company News: MISMO president Seth Appleton will serve as U.S. Mortgage Insurers’ new president starting in January.