Morning Roundup (3/10/25) – Rocket Acquires Redfin
| Good Morning! Today is Monday, March 10. Mark Carney will replace Justin Trudeau as Canada’s prime minister. Israel cut off electricity to Gaza, affecting a desalination plant producing drinking water. A small aircraft carrying five people crashed in a parking lot of a Pennsylvania retirement community. The Mortgage Note Reports Redfin Acquisition: Rocket Companies is acquiring digital real estate brokerage Redfin in an all-stock deal. AI Push: Underwriting and appraisal platform HomeVision is teaming up with Restb.ai to advance real estate valuation through artificial intelligence. |
| Quote Of The Day “The CFPB is the only federal agency that supervises non-depository institutions, so that would go away… If you’re the big banks, you certainly don’t want a world in which the non-banks have much greater degrees of freedom and much less regulatory oversight than the banks do.” Attorney David Silberman On Banks’ Support of the CFPB |
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In other mortgage and housing news… Unlikely Ally: Banks are standing up for the CFPB, hoping to retain oversight of non-bank depositories, despite years of complaints over its rules and policies. Change Of Plans: Rocket Mortgage is pulling out of Canada to focus on U.S. lending. Tech Update: Lenders can now use the FICO Score Mortgage Simulator through Xactus, offering consumers more loan options and favorable rates. Company News: Unison Mortgage Corp launched an Equity Sharing Home Loan in New Jersey; Dream Finders Homes acquired Cherry Creek Mortgage through its subsidiary, Jet HomeLoans. Inflation’s Impact: The majority of Americans who don’t own a home say they’ll never be able to afford one. Millennials and Gen Z feel the most priced out. Major Shift: Surging prices, wonky rates, and dried-up inventory — here’s how the pandemic transformed the housing market in the last five years. |