Morning Roundup (5/17/2023) — Applications Fall Again

Good Morning! Today is Wednesday, May 17. Officials in Ukraine say they shot down six hypersonic missiles, some of Russia’s most sophisticated conventional weapons. North Carolina’s legislature reapproved a 12-week abortion ban, overriding a veto. San Francisco is proposing a reparations plan that includes $5 million in cash payments and housing aid.

The Mortgage Note Reports

Apps Hurting: Mortgage applications fell last week, wiping out the prior week’s gains, as purchase applications dropped to their slowest pace in a month.

Closing The Gap: A Fannie Mae program designed to help build the credit scores of renters is finding success.

New Hires: Down Payment Resource announced four new hires to help expand its sales footprint, relationships, and customer base.

Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Check out our spring podcast.


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.

In other mortgage and housing news…

Housing Starts: Single-family starts rose in April, but March data was revised sharply lower, suggesting that the market is struggling to find a floor.

Builder Confidence: Limited existing inventory, which has renewed emphasis on new construction, lead to the highest builder confidence levels since July 2022.

In The Burbs: Homeownership is a pipe dream in many red-hot cities, but just a short drive away, these suburbs provide affordable alternatives.

Equifax Product: Equifax launched Employment Select+, which aids lenders by offering an instant view into a borrower’s most recent 35 days of employment.

“Home Point Post-Mortem”: A weak capital position, heavy cost structure, and messy technology: how one of the nation’s largest lenders went bust.

Fraud Alert: Homeowners in Arkansas are receiving scam letters designed to look like mail from their mortgage lender.