Morning Roundup (4/8/25) – UWM, Google Partner Up
| Good Morning! Today is Tuesday, April 8. The Supreme Court will allow the Trump administration to use an 18th-century law to deport Venezuelan migrants, but they must get a court hearing first. China blocked a deal to save TikTok because of tariffs. The U.S. has revoked visas from nearly 150 international students. The Mortgage Note Reports Power Players: UWM is partnering with Google Cloud to modernize the mortgage industry. Fraud Uncovered?: Fannie Mae has reportedly laid off 700 employees, including some Telugu speakers accused of abusing the GSE’s charitable donation match program. |
| Quote Of The Day “Some prospective buyers are pulling back because they’re worried about volatility in the stock market. In my area, this is mostly a concern for buyers in their 50s and older. Many of them are retreating from the housing market because a lot of the money they’d use to pay for housing is sitting in their stock portfolios, and they just don’t know what’s going to happen.” Heather Mahmood-Corley, Redfin Premier agent in Phoenix |
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In other mortgage and housing news… Wealth Hurts: Surging home equity is all the more important as the stock market wavers, but it comes at a cost: rising property taxes and higher hurdles for borrowing… Selling Stocks: …while one in twenty Americans say they’re planning on selling stocks to afford a down payment. Market Reheating: Lock volumes surged in March as early spring buyers returned to the market and homeowners jumped at the chance to refinance into lower rates. Company News: Fairway Independent Mortgage introduced hybrid eClosings for HECM reverse borrowers; Kind Lending partnered with AIME to offer partners access to its broker portal; ARDRI is acquiring non-QM lender The Lending Spot. Dramatic End: Move, Inc. moved to dismiss the trade secrets case against CoStar following a settlement between Move and Realtor.com’s former head of News & Insights. Life-Long Learning: Two mortgage industry vets formed Next Level Education, an NMLS-approved continuing education service dedicated to empowering LOs. |