Good Morning! Today is Tuesday, April 18. A grand jury in Ohio decided not to charge the police officers who killed Jayland Walker, a 25-year-old Black man, after an attempted traffic stop. A Moscow court sentenced a prominent Putin critic to 25 years in prison. The F.B.I. charged two men with running a Chinese police outpost in New York City.
The Mortgage Note Reports
Stricter Lending: FirstAm’s Potential Home Sales Model fell by 2.5% in March as bank failures prompt lenders to tighten credit for some loans.
Rice At Volly: Tom Rice has been named SVP of Sales and Account Management at mortgage tech and marketing company Volly.
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…
Price Growth Plummets YOY: Single-family home prices rose by 4.7% from Q1 2022 to Q1 2023, down from the previous quarter’s revised annual growth rate of 8.6%.
Flexible Zoning’s Effect: In four jurisdictions that have changed zoning rules to allow more housing, rent growth has slowed sharply.
Building Wealth: Middle-income homeowners have accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years.
Forbearances Slip: The share of loans in forbearance fell again last month, and MBA says credit quality and loss mitigation options are solid as we head toward recession.
SVB Securities: BlackRock begins selling failed banks’ securities today, launching a months-long process to help the FDIC offload $114 billion of assets.
Company News: GPARENCY hired Ami Eller as a senior broker; Kinecta Federal Credit Union opened a new branch in South Los Angeles.