Good Morning! Today is Monday, May 1. Another bank collapsed as regulators seized First Republic Bank and sold it to JPMorgan Chase. Ding Liren became the first Chinese man to become the World Chess Champion. A top adviser to New York’s governor, Kathy Hochul, said he would resign over reports of a toxic work environment.
The Mortgage Note Reports
Bank Takeover: Jamie Dimon, chairman and CEO of JPMorgan Chase, has issued a statement about the takeover of First Republic Bank.
Market Movement: Net new listings and contract volume have officially declined for twelve straight months, new data shows, but prices keep rising.
Quality Leads Product: Unify introduced a new product, Prequalified Leads, that gives users prequalified mortgage information that doesn’t impact customer credit scores.
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…
“Punishing” Borrowers: Congress Republicans have introduced two bills challenging the FHFA’s loan level pricing adjustment fee adjustment, calling them unfair…
Thompson Fights Back: …but FHFA Director Sandra Thompson said in a statement last week that the outcry is based on a “misunderstanding” of the rule.
Summer Predictions: Experts expect the number of buyers in the market to decline by the end of the summer, leading to moderating home prices.
Diversity Lending: U.S. Bank is introducing a new Business Diversity Lending Program that will expand its support to under-represented business owners.
Compliance With Ease: ACES Quality Management added a suite of automated regulatory compliance tests to its flagship quality control auditing platform.