Morning Roundup (2/13/25) – Living Well
| Good Morning! Today is Thursday, February 13. President Trump said he has started negotiations with Vladimir Putin to end the war in Ukraine. A federal judge said the Trump administration’s buyout program for federal workers could proceed. The Senate confirmed Tulsi Gabbard as the director of national intelligence. The Mortgage Note Reports Living Well: Young professionals hoping to build their careers and live comfortably can do so in many areas throughout the country. Writer Erin Flynn Jay has the story. CFPB Nominee: The Trump administration nominated Jonathan McKernan for CFPB director, a career regulator and Capitol Hill insider. Equity Options: loanDepot expanded its equityFREEDOM portfolio to help American homeowners access their tappable equity. |
| Quote Of The Day “We believe this was an illegal firing and we are prepared to take action against it. All we want is to get back to work protecting American consumers and ensure markets for consumer financial products are fair, transparent, and competitive.” Jasmine Hardy, EVP for NTEU Chapter 335, on CFPB Terminations |
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In other mortgage and housing news… PPI: The producer price index increased by 0.4% on the month, more than expected, but some indicators suggest pipeline inflation pressures are easing. Doom And Gloom: Fed Chairman Jerome Powell told Congress that the worsening insurance crisis will result in “regions of the country where you can’t get a mortgage.“ Defect Risk: The overall critical defect rate declined by nearly 17% in Q3 2024, but insurance defects increased sharply, muddying positive outcomes. Refi Boom: Optimal Blue’s January 2025 Market Advantage mortgage data report highlighted softening purchases but a boost in refi demand despite elevated rates. Earnings: Mr. Cooper group reported $204 million in profit for Q4 2024 and $235 million in pretax operating income. Reversal: Housing supply hit its highest level since 2020 in January, but demand shrank to its lowest point since 2020. |