Morning Roundup (2/20/2023) — Thriving Communities

Good Morning! Today is Monday, February 20. President Biden made an unannounced trip to Kyiv and met with Volodymyr Zelensky, Ukraine’s leader, ahead of the anniversary of Russia’s invasion. One person was killed and 10 others wounded in shootings in Memphis. “Die Hard” star Bruce Willis was diagnosed with frontotemporal dementia.

The Mortgage Note Reports

Intero Announcement: Berkshire Hathaway affiliate Intero has named Scott Chase president of the company and Terry Meyer as COO.

Thriving Communities: Officials at HUD have opened a portal for local government leaders to request assistance so housing needs are considered as part of their larger infrastructure investment plans.

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.


In other mortgage and housing news…

Triumphant Return: Texas-based Frost Bank is getting back into the mortgage business after twenty years away.

The Right Time To Buy: Is the housing market close enough to a bottom that it’s time for those on the sidelines to wade in?

Ginnie Switch Up: Ginnie Mae is making changes to the minimum size for loan pools backing reverse mortgage securitizations.

Debt Increasing: Total household debt hit a record $16.9 trillion during the fourth quarter, up 2.4% from Q3, as more Americans rely on their credit cards.

“Free And Clear”: Homeowners with no mortgage, and therefore no rate lock-in effect keeping them in their houses longer, may hold the key to unlocking more inventory.

Stone-Cold Markets: These are the U.S. cities where home sales are down the most.

Back To The Office: Amazon is ordering thousands of its employees to return to work in person at least three days per week.

The Next Hot Thing: Despite the FTX scandal and poor crypto projections, the metaverse real estate market is expected to grow by $5.37 billion by 2026.