Good Morning! Today is Tuesday, March 14. SVB’s collapse continues to pound global bank stocks this morning. The U.S., Britain, and Australia will jointly develop a fleet of nuclear-powered submarines in the Pacific. A late-winter storm is moving through the Northeast, with a forecast of heavy snow.
The Mortgage Note Reports
Another Guild Acquisition: Guild Mortgage acquired Cherry Creek Mortgage, a Colorado-based privately held lender with physical branches in 45 states.
Single Women Building Wealth: Homeownership remains the most significant way single women can build wealth, and more women than ever are taking advantage.
Banking Crisis: The administration worked to assure consumers that the banking system was safe on Monday following the sudden collapse of two financial institutions. Editor Kimberley Haas has the story.
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.
What are you seeing this spring homebuying season? We want to know. Email us at [email protected].
In other mortgage and housing news…
CPI: Consumer prices rose 0.5% in February, the most in five months, forcing a tough choice for Fed officials in their next interest-rate decision.
Guessing Games: Stock indexes held relatively steady Monday while investors assessed what stress in the banking system would mean for Federal Reserve policy.
SVB Is Open: SVB’s new CEO, former Fannie Mae CEO Tim Mayopoulos, sent a letter to clients saying that the bank is open and it’s “business as usual.”
Arc CPO: Arc Home, a Non-QM and Non-Agency Wholesale and Correspondent lender, appointed Shea Pallante as Chief Production Officer.
Onboard At UMortgage: Former Senior Vice President of Mortgage Lending at Guaranteed Rate Ravi Patel and his team have joined the UMortgage platform.
Built-In Safety: Check out “the best mortgage decision” one couple ever made.