Good Morning! Today is Thursday, April 27. Disney sued Gov. Ron DeSantis, arguing that his fight with the company was retaliation for speaking out against a Florida education bill. British regulators rejected Microsoft’s plan to acquire Activision Blizzard. Pope Francis will allow women to vote at a meeting about the future of the Catholic Church.
The Mortgage Note Reports
Pending Sales Down: Pending home sales sank in March, down 5.2%, as rate-sensitive buyers continue to skirt the market.
Zombie Loans Warning: The CFPB issued a reminder that threatening to sue to collect on time-barred mortgages violates the Fair Debt Collection Practices Act.
Addressing Affordability: Editor Kimberley Haas spoke with Bill Banfield, EVP of Capital Markets at Rocket Mortgage, to learn more about what the company is doing to address affordability issues from a business perspective.
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…
Economy Slows: The GDP rose at a 1.1% annualized pace in Q1 — slower than the expected 2% — as interest rate increases and inflation took a toll.
Correcting Misinformation: FHFA Director Sandra Thompson issued a statement addressing pushback on fee updates based on a “misunderstanding” of the rule.
Price Hit: Profit margins on median-priced single-family home and condo sales fell to 44.2% as home prices stayed flat or declined around most of the nation.
Delinquencies Stay Low: Mortgage delinquencies hovered near their record low in February, seeing a decrease YOY but a slight increase from January.
Lora At Washington: The Washington Trust Company has appointed Rolando Lora as Executive Vice President and Chief Retail Lending Officer.
Cooper Buys Big: Mr. Cooper is buying Rushmore’s residential mortgage servicing platform, gaining a quarter million customers with $37 billion in unpaid principal balance.