Morning Roundup (2/9/2023) — Multifamily Opportunities

Good Morning! Today is Thursday, February 9. Disney will lay off as many as 7,000 employees. Ukraine’s president asked Britain for fighter jets during a two-day visit. New York City is buying bus tickets for migrants who want to seek asylum in Canada.

The Mortgage Note Reports

Multifamily Opportunities: Programs that support ownership of multifamily properties are estimated to make up almost 30% of homebuyer assistance offerings and that may present unique opportunities in markets strapped for inventory. Editor Kimberley Haas has the story.

Battle For Dominance: Anthony Hsieh stepped down as Executive Chairman of loanDepot as the result of a proxy fight with his board of directors.

More For Your Money: As rates retreat and home price appreciation cools, homebuyers are getting more bang for their buck when it comes to square footage.

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…

More JP Carnage: JP Morgan cut “hundreds” more jobs in its mortgage division.

Aggressive Approach: Minneapolis Fed President Neel Kashkari said job growth indicates that inflation needs more work and suggested the fed funds rate should be 5.4%.

Foreclosure’s Future: Foreclosures ticked up 2% from the month prior and 36% YOY, indicating “a more substantial trend that could continue into 2023.”

Amerisave Gets Personal: Amerisave Mortgage is now offering personal loans of up to $50,000 to help borrowers achieve their financial goals.

New Nations Branch: Nations Lending opened a new branch in Minneapolis, Minnesota, led by industry veteran Mike Cass as Area Sales Manager.

Inside Scoop: Neil Anders, VP of Sales at Trusted Rate, shared his predictions for the 2023 mortgage market with the Miami Herald.

Cash Is King: How many all-cash buyers snagged homes in your neighborhood? This interactive data breaks down the dominance of cash offers.