Morning Roundup (4/11/2024) — Flippers Hit Hard

Good Morning! Today is Thursday, April 11. Iowa made it a crime for a person to enter the state if they have ever been deported or denied entry into the U.S. Spring floods forced more than 100,000 people to leave their homes in Russia and Kazakhstan. Storms in the Southeast delayed the start of the Masters Tournament.


The Mortgage Note Reports

Flippers Hit Hard: Home flipping activity is down as people who work in the industry see reduced returns on investments due to high interest rates and inflation. Writer Erin Flynn Jay has the story.

Foreclosures Up: Foreclosures increased by 3% in Q1 2024 as mounting affordability pressures make some homeowners unable to pay.

DART Rollout: Figure Technology Solutions introduced its combined lien and eNote registry service, DART, for private and wholesale lenders.

In other mortgage and housing news…

RESPA Violation: An FDIC test concluded that some mortgage brokers failed to prove that their pay was “reasonably related” to the value of services provided.

Overvalued: The U.S. housing market is still overvalued, according to Moody’s, but that’s correcting as home price growth decelerates.

“Sticker Shocked”: The hidden costs of homeownership — insurance and property taxes — are rising, putting financial pressure even on homeowners without a mortgage.

Flip Flop: They bought a flipped house and now it’s falling apart. Here are some ways to spot a cheap flip before it’s too late.

“Investing Into My Happiness”: Millennials are giving up on buying their dream homes and finding joy in extreme rental renovations.

Malls To Homes: America is full of abandoned strip malls. Could converting them help alleviate the housing shortage?