Morning Roundup (2/16/2022)– Applications Fall, Million-Dollar Cities Nearly Tripled In 2021

Good Morning! Today is Wednesday, February 16. Republicans boycotted a Senate meeting on Biden’s five nominees to the Federal Reserve, delaying efforts to confirm them. A woman became the third person cured of H.I.V. after using a new treatment. The families of Sandy Hook victims reached a $73 million settlement with Remington.

The Mortgage Note Reports

UWM Embattled on Multiple Fronts: United Wholesale Mortgage is facing more public scrutiny as court battles — and backlash from brokers — mount.

Million Or More: “Million-dollar cities” nearly tripled in 2021, with typical home values reaching at least $1 million in a record 146 new U.S. cities.

Credit Availability Drops: Mortgage credit availability fell in January by 0.9% to its lowest level since August 2021.

And in other mortgage and housing news…

Applications Fall: Mortgage applications fell 5.4% from last week while average loan size hit another record at $453,000, MBA reported.

PPI: U.S. producer prices increased by the most in eight months in January amid a surge in the cost of hospital outpatient care and goods such as food and motor vehicles.

Renter Confidence:82% of renters said they have not missed a rent payment over the past 12 months, up from 57% in September 2021.

Freddie Update: Freddie Mac will launch an automated capability that allows mortgage lenders to assess a prospective homebuyer’s income paid through direct deposit.

Public Comment: MISMO is seeking public comment on a new guide and sample credit response designed to help industry professionals using MISMO Reference Models better report on loans that have been in or are in forbearance. 

BK Switchup: Anthony Jabbour, Black Knight’s Chairman and CEO, will assume the role of Executive Chairman of the Board; Joe Nackashi, President, will assume the role of CEO; and Kirk Larsen, CFO, will assume the role of President and CFO.

And BK Earnings: Black Knight reported fourth-quarter earnings of $60.7 million, a net income of 39 cents per share.

Hottest Housing Markets: Manchester, NH takes the top spot on’s hottest housing markets list in January for the 9th time in 12 months.