| Good Morning! Today is Wednesday, May 3. Biden is sending 1,500 troops to the southern border to manage a possible migration surge. A judge rejected a transgender lawmaker’s effort to return to the Montana House Floor after Republicans barred her. Police said they have captured a man who shot and killed five neighbors in Texas. The Mortgage Note Reports The Current Facts: Two bills have been put forward by lawmakers to block the FHA’s loan level pricing adjustments. Here’s what we know. Applications Take A Hit: Mortgage applications fell last week even as rates dipped for the first time in three weeks. Zeller At Veros: Heather Zeller has joined mortgage tech company Veros Software as Vice President of Marketing. Spring Update Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers. Check out our spring podcast for the latest.
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… Boost Or Bust?: With federal reserve interest rates likely to rise at least one more time, how will the housing market be affected? The True Reason: FHFA loan pricing changes cover higher capital requirements, not a cross-subsidy punishing those with good credit, the Urban Institute says. FM Earnings: Freddie Mac said revenue and net income fell in Q1 as the housing market cooled off and the company set more money aside for potential credit losses. Best Time To Sell: May, June, and April offer seller premiums of 10% or more above market value – with the top 16 best days to sell in the month of May alone. Broker Awarded $1.5M: A jury found that a law office acted maliciously in suing a West Glacier, Montana-based mortgage broker and awarded her $1.5 million. Company News: PHH Mortgage, a subsidiary of Ocwen, announced that it has entered into a reverse mortgage subservicing agreement with Finance of America Reverse. |
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