Good Morning! Today is Thursday, April 25. President Biden signed a bill with aid for Ukraine, Israel, and Taiwan. Benjamin Netanyahu called student protesters at universities “antisemitic mobs.” New Jersey Congressman Donald Payne Jr. died at 65.
The Mortgage Note Reports
Importance Of AI: The co-founder and president at Nexval Group in Miami sat down with Editor Kimberley Haas to talk about AI, saying it is an essential tool moving forward.
Servicers Under Fire: The CFPB is once again targeting “junk fees” in the mortgage sector, this time addressing illegal actions by servicers.
Good News: Pending home sales improved in March, seeing their best performance of 2024, but low inventory remains a challenge to affordability.
In other mortgage and housing news…
Seller Profits: Profit margins on home and condo sales fell to their smallest level in more than two years in Q1, though they remain above 50%.
Help Is Out There: There is now at least one down payment assistance program available in every county in the U.S. thanks to the high cost of homebuying.
Empowering Diversity: New American Funding published a white paper addressing homeownership challenges in underrepresented communities.
Battling Climate Impact: HUD established an internal working group to improve resilience to extreme heat and a new website for heat information and assistance.
Company News: Carrington Mortgage Services introduced ITIN loans for non-citizens; Dark Matter partnered with Total Expert.
Fraud Alert: The DOJ charged top New Jersey loan originator Christopher Gallo in a “large-scale mortgage fraud scheme.”