Good Morning! Today is Monday, December 18. Southwest Airlines will pay a $140 million penalty over its 2022 holiday meltdown that left 2 million people stranded. Michigan State University will pay $15 million to the families of three students who were shot to death on campus in February. Catholic priests can now bless same-sex couples.
The Mortgage Note Reports
Potential Home Sales: Cooling interest rates have opened a path for potential buyers heading into 2024, sparking “cautious optimism” for housing professionals.
Blacklisted: Two law firms announced they obtained copies of Fannie Mae’s secret “Condo Blacklist” and are sharing it with condo owners and HOAs.
Election 2024: Home affordability is weighing on the minds of voters and at least one leading economist says the issue could take center stage as the race for the White House heats up. Editor Kimberley Haas has the story.
In other mortgage and housing news…
CU Under Fire: A new lawsuit and NYT investigation allege that eXp Realty ignored complaints that two of its star agents drugged and assaulted women at work events.
Delayed Effects: Though record-high home prices may not seem positive, housing-related data will soon bring about a major inflation downturn.
Closing A Loophole: The FCC’s new lead generation rules for mortgage lenders, considered a “lead gen loophole”, could lead to even more lawsuits for the industry.
Plus, Another Suit: Texas homeowners allege that loanDepot and Cardinal Financial employees induced them into getting refis and then skipping payments on the loan.
Fraud Alert: A New York man pleaded guilty to conspiring to obtain over $165 million in mortgage loans and fraudulently acquire multifamily and commercial properties.
Football’s Impact: College football is creating short-term rental explosions in towns across the country and inflating home prices and rents for locals.