Good Morning! Today is Tuesday, April 26. The Biden administration established a program that allows Americans to sponsor Ukrainian refugees. A New York judge held Donald Trump in contempt for refusing to turn over documents. The Boston Celtics eliminated the Brooklyn Nets in the first round of the N.B.A. playoffs.
The Mortgage Note Reports
Housing Bubble: Clickbait Or Is There A Bumpy Ride Ahead? Chuck Green reports trouble could be percolating in the U.S. housing market.
loanDepot Shakeup: loanDepot has named Anthony Hsieh as its new Executive Chairman, while industry leader Frank Martell joins as President and CEO.
Builder Profits: Builder gross profit margins fell to 18.2% in 2020, while net profits slipped to 7%, the first profit margin decline since 2008.
And in other mortgage and housing news…
Set To Stall: There is now mounting evidence to suggest high home price appreciation is not only set to stall but may roll over in the year ahead.
Emerging Markets: Rapid City, SD, ranked #1 on the latest quarterly Wall Street Journal/Realtor.com Emerging Housing Markets Index.
Layoffs Continue: Rocket Mortgage and Amrock have offered about 8 percent of its team members voluntary buyouts, according to a statement from Rocket Central.
Fighting Bias: Black Knight launched a tool designed to help mortgage lenders, appraisers, and AMCs identify potential minority bias in the home valuation process.
Portland Rent Control: A study shows Portland lost 14% of its single-family rentals between 2015 and 2020 after passing rent control, but rent control may not be the cause.
Slowdown Impact: A slowdown may not help affordability since it won’t impact the fundamental problems in the housing market, Conor Sen argues in Bloomberg.
Take A Look: These are the top 20 cities attracting dog parents as homebuyers factor their furry friends into their destination decisions.
The One Where…: A “Friends”-themed home has gone up for sale in Texas.