Morning Roundup (5/22/2024) — Refi Boost

Good Morning! Today is Wednesday, May 22. Donald Trump declined to testify in his criminal trial. Spain, Norway, and Ireland said they would recognize an independent Palestinian state. The Biden administration canceled $7.7 billion in student loans.


The Mortgage Note Reports

Refi Boost: Mortgage applications rose again as rates slipped for a third week and refis rallied, though purchase demand remained low.

WF Addition: Sandra Ho is joining Wells Fargo as its head of Home Lending Sales.


In other mortgage and housing news…

Home Medicine: America’s biggest Medicaid insurer pledged to help build nearly $1 billion of affordable housing, saying housing is one of the biggest determinants of health.

IT Failure: HUD’s inspection system for public housing suffered a major technical failure, forcing inspections to be canceled for two weeks.

Settlement Reached: Rocket Mortgage moved to settle an unpaid overtime lawsuit brought by loan officers in Arizona for $3.5 million.

Company News: Certainty Home Mortgage appointed Shadi Kamran as its new National Business Development Executive; Finaya launched an “AI-based homeownership marketplace super-app.”

NEXA Split: Xome launched a DIY sales platform that allows investors to auction off homes in real-time and with no seller’s fees or agent required.

“Temporary Fix”: The VA will release a circular that “bridges the gap” on a rule that prohibits VA buyers from paying their real estate agent’s commission fee.