Morning Roundup (3/19/25) – Winning Business
| Good Morning! Today is Wednesday, March 19. A federal judge ruled that the dismantling of USAID by DOGE likely violated the Constitution. NASA astronauts safely returned to Earth after 9 months in space. Mexico City banned traditional bullfighting. The Mortgage Note Reports Winning Business: A national commercial real estate firm that provides both financing services and capital markets advisory services is finding success by nurturing relationships with lenders and clients. Editor Kimberley Haas has the story. NMB Leadership: Michael Brennan has been named president of sales and operations for Nationwide Mortgage Bankers. Up And Down: Mortgage applications reversed an upward streak as a jump in rates hurt refinance activity, though FHA purchase apps saw improvement. |
| Quote Of The Day “Overall, purchase application volume is up 6% compared to last year at this time. Growing inventories of homes on the market and steadier mortgage rates are supporting homebuying activity thus far this spring.” Mike Fratantoni, MBA SVP and Chief Economist |
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In other mortgage and housing news… “Seismic Changes”: Bill Pulte ousted 14 board members at Fannie Mae and Freddie Mac and appointed himself chairman of both companies in a surprise move. CRE News: Commercial and multifamily mortgage debt outstanding increased to almost $4.8 trillion in the fourth quarter of 2024, up 3.7% compared to last year. Earnings: Better reported a net loss in 2024 but says its Betsy AI Loan Agent has the potential to drive $2,000 in sales labor savings per fund. Worsening Trend: Lower-income households in their critical homebuying years are much less likely to buy a home than previous generations as prices have skyrocketed. Unexpected Boost?: Americans are worried that President Donald Trump’s policies will stall the economy. But for homebuyers, that prospect may actually bring some good news. |