Good Morning! Today is Tuesday, May 21. The International Criminal Court’s chief prosecutor requested arrest warrants for Benjamin Netanyahu as well as the leaders of Hamas. The seafood chain Red Lobster has filed for bankruptcy. Storms could bring tornadoes and damaging winds to the Midwest today.
The Mortgage Note Reports
Staying Compliant: It is estimated that over 20% of Americans will work remotely by 2025 and lenders are finding new ways to remain compliant as loan officers choose that lifestyle.
Still Sidelined: Just as inventory is picking up, a boon for the housing market, the Central Bank is keeping buyers sidelined with “higher for longer” interest rates.
FHM Leadership: Tim Whittier has been named president of First Home Mortgage.
In other mortgage and housing news…
Chopra’s Speaks Up: CFPB Director Rohit Chopra spoke on credit reporting price hikes and their burden on lenders.
April Prices Up: U.S. home prices climbed 0.5% from a month earlier in April on a seasonally-adjusted basis and rose 7.3% from a year earlier.
Low 2024 Activity: Fannie Mae’s ESR Group predicts rates will hover near 7% through the end of the year, constraining housing activity, before falling in 2025.
Company News: AnnieMac named Rick Dionne its Senior Vice President of Retail Sales; Bill Shuler is now Planet Home Lending’s Chief Information Officer.
NEXA Split: NEXA Mortgage will pay its loan officers 100% of the commission splits “without any per-file fees or other hidden fees,” its CEO said.
Surf’s Up: Realtor.com has listed the most affordable beach towns for buyers, just in time for summer.