Morning Roundup (3/27/25) – Land Banking
| Good Morning! Today is Thursday, March 27. President Donald Trump announced 25% tariffs on auto imports. The Department of Health and Human Services will cut 10,000 employees in a major overhaul of health agencies. A tourist submarine crashed off the coast of Egypt. The Mortgage Note Reports New Era: The land banking industry is evolving as homebuilders develop relationships with these investors to finance deals. Editor Kimberley Haas has the story. Revised Rules: Non-permanent residents will no longer be eligible for Federal Housing Administration mortgages. Big Savings: Financial fitness and homeownership platform FinLocker will cover 100% of verification costs for lenders using FinLocker-powered apps. |
| Quote Of The Day “Today, HUD terminated Biden’s taxpayer-backed FHA mortgages for illegal aliens. American taxpayers will no longer subsidize open borders by offering home loans to those who enter our nation illegally.” HUD Secretary Scott Turner |
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In other mortgage and housing news… GDP: The U.S. grew a revised 2.4% in Q4 2024, but the economy is likely to fall well short of the mark in the first few months of the Trump administration. Down Payments Up: The typical down payment in the fourth quarter was $30,250, slightly below Q3’s level but roughly $3,000 higher than one year prior. Price Pain: The median monthly mortgage payment reached a record high this week, putting a lid on pending home sales. New listings, on the other hand, are improving. Signs Of Change: Affordability started the year poorly, but preliminary February data shows some improvement due to lower rates, slower appreciation, and rising incomes. Company News: Farmer Mac appointed Daniel L. Shaw of Edgar to its board of directors; Optimal Blue announced a strategic alliance with Cotality (formerly CoreLogic). “Organic Modernism”: Today’s home buyers are willing to pay more for homes with bold, nature-inspired design choices, Zillow found. |