Morning Roundup (4/26/2022)– Mortgage Applications Drop

Good Morning! Today is Thursday, April 28. New York State’s highest court threw out Democratic-drawn legislative maps as partisan gerrymanders. American and European officials say they are worried the war could escalate beyond Ukraine.

The Mortgage Note Reports

Applications Drop: Mortgage loan application volume plummeted by 8.3% last week, with overall application activity dropping to its lowest level since 2018.

St. Mary’s Board: St. Mary’s Bank has elected Stephen Grzywacz as chairman and Elizabeth Hitchcock as vice-chairman.

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And in other mortgage and housing news…

NAHB Asks For Action: Members of NAHB sent a letter calling on the White House to take action on the growing housing affordability crisis.

Bad News: Better let go of nearly 60% of its employees and lost $304 million in 2021.

Rent Reporting: Self Financial has become the first direct-to-consumer company to report rent to all three major credit bureaus.

Neighborly Affection: 73% of Americans dislike at least one of their neighbors, but 74% are friends with at least some of them, according to a LendingTree survey.

Desperate Measures: To afford a house, many Americans would consider taking a second job, starting an online store, or selling some of their belongings, according to a Bank of America survey

DocuSketch: CoreLogic has incorporated DocuSketch 3D photo modeling technology as part of its cloud-based DASH restoration job management platform.

Seller Profits: Home sales and seller profits dipped in Q1 2022, the first quarterly decline since Q4 2019 and the largest since Q1 2011.

Crypto Payments: Dubai luxury real estate developer Damac will accept payments in crypto, joining the chorus of firms betting that the UAE will become a global crypto hub.