Good Morning! Today is Monday, December 5. Donald Trump called for a “termination” of the Constitution, drawing bipartisan criticism. Europe and the United States started enforcing a price cap intended to limit Russia’s oil income. Gunfire at two substations knocked out power for tens of thousands of people in North Carolina.
The Mortgage Note Reports
Underwater Risk Rising: Black Knight found that 8% of homes bought in 2022 are now at least marginally underwater, and FHA/VA loan holders are especially at risk.
ICYMI: Last week, Writer Chuck Green explained why the housing market is expected to cool this month and into next year. Editor Kimberley Haas wrote that leaders at Big Purple Dot and CoreLogic have come together to launch a platform that provides detailed production data on loan officers and a service to help lending companies in their recruiting efforts.
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.
Rent Relief: Rent prices are easing in most American cities thanks to a boost in available units, though some high-demand areas like Florida continue to see growth.
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…
Default Risk Rising: Mortgage default risk is on the rise, with 3.54% of loans originated in Q3 projected to become delinquent at some point in their lifetimes.
Two-Year Low: The number of people estimated to work at non-depositories in the mortgage industry fell to its lowest point since October 2020.
Foreclosures As A Fix?: Too many foreclosures is a bad thing, but too few means lenders aren’t taking on enough risk, James Rodriguez argues in Insider.
Affordability Battle: Utah’s largest homebuilder went to D.C. to see what Congress, the private sector, and the average person can do to help solve the affordability crisis.
Flashback To The 80s: How did people afford homes in the 1980s when rates were at 18%? Understanding the differences between then and now.
ADUs For Everyone: Is an accessory dwelling unit right for you? Here are three things to consider if you’re thinking of adding an ADU on your property for extra income.