Good Morning! Today is Monday, May 16. Ten people were killed in a racially motivated mass shooting at a Buffalo, NY supermarket on Saturday. Six people were shot and one died in a shooting at a Laguna Woods, CA church. John Fetterman, a leading Democratic candidate for Senate in Pennsylvania, had a stroke and is recovering.
The Mortgage Note Reports
IC22 Announced: Fannie Mae has committed $5 million to its 2022 Sustainable Communities Innovation Challenge and is seeking proposals that help advance racial equity in housing.
BSI Hires: BSI Financial Services has hired Sean McGowan as chief people officer and Shannon Clay as senior vice president of investor reporting.
And in other mortgage and housing news…
Biden’s Action Plan: Today the Biden administration plans to unveil an action plan to help close the affordable housing gap and “ease the burden of housing costs.”
“They’re Just Late”: Some analysts believe the Fed’s attempt to cool the economy without spiraling into recession this late in the game will be nearly impossible to execute.
Vacation Home Boom Ends: Non-QM lender Angel Oak reported a Q1 2022 GAAP net loss of $43.5 million, citing historic volatility in interest rates as the reason.
“Pretty Astronomical”: Surging rent prices are the biggest challenge for recent college grads trying to enter the workforce.
Next-Gen Branding: Companies are racing to set the standards of the Metaverse, especially when it comes to the next generation of advertising.
Evernest Portfolio: Evernest, a full-service real estate and property management firm, announced today that its real estate management portfolio now exceeds $1.5 billion.
Multifamily Report: The average U.S. asking rent rose $15 in April to an all-time record of $1,659, with YOY growth remaining high at 14.3%.