Morning Roundup (2/20/25) – Fraud On The Rise
| Good Morning! Today is Thursday, February 20. Emmanuel Macron called a second meeting of European leaders in Paris to discuss Ukraine. The I.R.S. will start laying off more than 6,000 employees today. Pete Hegseth ordered officials to cut 8% from the defense budget over each of the next five years. The Mortgage Note Reports Fraud On Rise: Real estate fraud has become increasingly sophisticated, leveraging advanced technologies to exploit vulnerabilities in traditional identity verification methods. Writer Erin Flynn Jay has the story. Price Gains: American home values totaled $49.7 trillion in 2024, gaining $2.5 trillion over the course of the year despite experiencing a slowdown. Tech Update: Total Expert released its winter 2025 platform enhancement, including customer-specific data housed in contact records. |
| Quote Of The Day “[O]ngoing uncertainty around trade policy adds risk to our GDP and inflation outlooks, which may have implications for mortgage rates, although the direction – up or down – would depend on a number of factors.” Kim Betancourt, Fannie Mae VP of Multifamily Economics and Strategic Research |
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In other mortgage and housing news… Climate Impact: By 2055, 84% of all U.S. homes may see some drop in value due to climate change, according to new data, totaling $1.47 trillion in losses. Slow Start: January new home purchases rebounded 19% from December but decreased from a year ago, the first annual decline in two years. Company News: Informative Research’s AccountChek expanded its payroll provider network for mortgage lenders assessing income through Freddie Mac’s AIM; Denver LO Chris Franquemont returned to Rate after a stint at CrossCountry. Pushback: Three civil rights nonprofits filed a lawsuit against the Trump administration for violating the First and Fifth Amendments with the DEI-ending executive orders. Black Buyer Strength: Black buyers have experienced the strongest rebound in first-time homeownership since 2021, outpacing other racial groups and the national average. |