Morning Roundup (5/30/2023) — Farner Retiring

Good Morning! Today is Tuesday, May 30. Russia attacked Kyiv for two days and Ukraine retaliated by using drones to strike Moscow. Tech leaders warned that A.I. “poses an extinction risk for humans.” Theranos founder Elizabeth Holmes is expected to report to prison today.

The Mortgage Note Reports

Farner Retires: After a 27-year career, Rocket Companies CEO Jay Farner is retiring and he will be remembered as a keen businessman who helped make mortgages more accessible. Editor Kimberley Haas has the story.

Prices Up In March: Data released today shows a modest increase in home prices took place in March, signaling that home price declines may be over.

Elon On Home Values: Elon Musk said he expects pressure on commercial real estate to spread to house prices, pointing to CRM debt due to mature soon.

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

Gloomy Outlooks: Consumer confidence slipped to a 6-month low as Americans are increasingly gloomy about the economy.

Chasing A Unicorn: The “unicorn” market is gone for good, and making comparisons between then and now isn’t helpful for predicting the future.

Storm Aftermath: Fannie Mae reminded homeowners impacted by natural disasters like Typhoon Mawar in Guam of available mortgage assistance and disaster relief.

Burt’s Prediction: A “Big Short” investor sees trouble brewing in the housing market as climate-related flood risk becomes a serious issue.

Fraud Alert: A Florida loan officer pleaded guilty to avoiding his taxes, officials at the DOJ said.

Historic Property: Want to live in an old lighthouse? The U.S. government is giving them away or selling them at auction.