Morning Roundup (4/10/2024) — UWM Doubles Down

Good Morning! Today is Wednesday, April 10. An appeals court judge rejected another attempt by Donald Trump to delay his criminal case in Manhattan. Benjamin Netanyahu said “no force in the world” will stop Israel’s invasion of Rafah in southern Gaza. Europe’s top human rights court ruled that Switzerland violated its citizens’ rights by not doing enough to stop climate change.



The Mortgage Note Reports

Doubling Down: Leaders at UWM are doubling down on accusations that a report released last week by Hunterbrook Media is inaccurate and tied to their main competitor, Rocket Mortgage.

HackWeek: Team members at Rocket Companies dove headfirst into the topic of leveraging generative AI during their most recent HackWeek as the company works to transform the mortgage industry.

Optimal Blue Promotion: Industry veteran Rick Allen has been promoted to Chief Operating Officer at Optimal Blue.

Refi Strenth Lifts Apps: Mortgage applications ticked up slightly last week, buoyed by a refi boost as purchase applications tanked in the face of 7% rates.

In other mortgage and housing news…


Regulators Working Together:  The Conference of State Bank Supervisors and FHFA agreed to share information about nonbank mortgage companies.

Better, But Not There Yet: Mortgage credit availability increased in March, driven by growth in conventional credit, but credit supply remains near 2012 lows.

Wealth Hacks: Gen Z and millennials are almost equally likely to own cryptocurrency as they are to own real estate and look for “hacks” to build wealth, a study found.

Insurance Block-Out: Soaring insurance premiums and difficulty securing coverage have become major concerns among real estate investors.

Rents Creep Up: The median U.S. asking rent rose 1% in March but jumped by 5% in the Midwest, where construction isn’t keeping pace with demand.

Market Correction: Nearly one in five homes sold in San Francisco from December to March saw a loss, with the typical seller losing more than $150K.