Morning Roundup (4/5/2022)– Disability Discrimination, Home Price Record

Good Morning! Today is Tuesday, April 5. Russia appears to be positioning troops for an intensified assault in the Donbas region. Senators announced a deal to spend $10 billion on Covid testing, vaccines, and treatments. Kansas won its fourth men’s N.C.A.A. championship with a 72-69 victory over North Carolina.

The Mortgage Note Reports

Disability Discrimination Alleged In Hawaii: Officials at the U.S. Department of Justice are claiming that condominiums and apartment complexes in Hawaii were built without accessible features required by the Fair Housing Act.

Mortgage Monitor Report: Home prices rose 1.84% in February – nearly four times the 25-year average for the month – and the 14th month of greater than 1% growth.

Inventory Lows: A record-low number of homes for sale remains the primary culprit for the rapid home price appreciation, CoreLogic reported.

And in other mortgage and housing news…

Myth Busting: A report from the Texas Real Estate Research Center found that migration isn’t the cause of home price acceleration in the state.

Voucher Incentive:Fannie Mae announced a new pricing incentive for Texas and North Carolina multifamily property owners who accept HUD housing choice vouchers.

Fast 15 Guarantee:Rocket Pro TPO launched its Fast 15 Guarantee, a promise that eligible loans will be cleared to close in no more than 15 business days from the submission of a complete loan file.

“Use It Or Lost It”: Mortgage and housing fintech won’t replace mortgage lenders, especially those lenders using technology to stay ahead, Joe Welu argues in Forbes.

Redfin Acquires Bay Equity: Redfin completed its previously announced acquisition of Bay Equity Home Loans for $137.8 million in cash.

FHLBank Chicago: The Federal Home Loan Bank of Chicago announced new programs addressing affordable housing and development in Illinois and Wisconsin.

Forty-Year Loan Mod: HUD proposed a new rule that would allow for mortgagees to recast the total unpaid loan for a new term limit of 480 months. 

ShowingTime Feature: Zillow’s ShowingTime has a new feature that brings real-time home tours to brokerage and agent websites.