Morning Roundup (4/29/2024) — Watching The Fed

Good Morning! Today is Monday, April 29. Police have arrested more than 800 campus protesters across the country. Severe storms in Oklahoma and Iowa killed at least five people. The Rolling Stones kicked off the latest tour of their more than 60-year run.

The Mortgage Note Reports

Watching The Fed: It’s unlikely the Federal Reserve will cut rates this week or at their next meeting. Writer Patrick Lavery breaks down what that means.

Second Swing: Hunterbrook Media took a second swing at UWM last week, claiming that an executive there helped a shell company establish Philadelphia-based UMortgage.

Hottest Markets: The Northeast and Midwest dominate the list of hottest markets for the year, proving affordability and climate concerns remain top of mind for house hunters.

MSP Update: ICE rolled out a new interface for its mortgage loan servicing system with “conversational” capacities, the MSP Digital Experience.

In other mortgage and housing news…

“Yes In God’s Backyard”: Churches and other religious groups are building low-cost housing on their properties to help address the housing and homelessness crises.

Hidden Cost Of Fires: Mortgage lenders lost more than $30 billion between 2020 and 2022, in part due to prepayments following destructive wildfires.

Another Settlement: HomeServices of America, Warren Buffett’s real estate brokerage, reached a $250 million settlement over allegations it kept fees artificially high.

Policy Changes: HUD announced that the HECM For Purchase program no longer allows premium pricing and limits IPCs on H4P closing costs.

Left Behind: Rising asset prices are wedging an increasingly large gap between the wealth of older generations and their children and grandchildren.