Good Morning! Today is Monday, April 4. Ukraine accused Russian forces of executing civilians in a Kyiv suburb before retreating. At least six people were killed after gunfire erupted in downtown Sacramento, California. Tesla CEO Elon Musk disclosed a 9% stake in Twitter.
The Mortgage Note Reports
Young Buyers Priced Out: The share of younger home buyers is declining after peaking in 2020, but is higher in more affordable metros.
Geneva CCO: Kelly Singh has joined direct mortgage lender Geneva Financial as its Chief Compliance Officer.
In Case You Missed It: People in the mortgage and real estate industries are speculating on whether 2022 will be a year of growth or the start of the end for a red-hot market that has favored sellers and forced up the price of housing in many parts of the country.
And in other mortgage and housing news…
Real Estate Jobs Jump: Friday’s jobs report showed that almost 14,000 new jobs were created in real estate in March, above average for the last year…
But Not All Jobs Are Safe:…but USAA Federal Savings Bank issued pink slips to 90 employees in its mortgage group, yet another company downsizing in a “challenging purchase environment.”
Sales Projection: Economist Ian Shepherdson projected that existing-home sales will drop roughly 25% to an annual rate of 4.5 million by the end of summer.
Spring Homebuying: Realtor.com’s Danielle Hale told Yahoo Finance that anyone hoping this spring buying season will look like last year will be “disappointed.”
FHFA’s Future: The FHFA is preparing the GSEs for life after conservatorship, acting director Sandra Thompson said.
Home Equity Theft: A lawsuit filed in Massachusetts claims to challenge a state law “that allows private investors to confiscate the equity” built into properties by homeowners.
Fraud Alert: A Bergen County, New Jersey man was sentenced to 97 months in prison for orchestrating a long-running multifamily fraud scheme.
“Red-Hot” Rent: This map shows just how much more expensive rent is in every state.