Morning Roundup (5/6/2024) — Mother-Daughter Lending

Good Morning! Today is Monday, May 6. Israel called for civilian evacuations in Rafah. Chinese leader Xi Jinping is visiting Europe this week. ABC News President Kim Godwin stepped down, saying she will retire from broadcast journalism.

The Mortgage Note Reports

Loving Partners: Mother-daughter lending teams across the country will be celebrating their teamwork, business success, and love for each other this Mother’s Day. Writer Erin Flynn Jay has the story.

All-Time High: The recent surge in home prices pushed U.S. homeowners’ tappable equity to a record $11 trillion, and homeowners are financially primed to use it.

Making Moves: Mortgage exec Ian Aubourg joined AnnieMac Home Mortgage’s leadership team as SVP of Retail Sales.

In other mortgage and housing news…

Low Earners Locked Out: Just 1 in 5 new mortgages went to low-income homebuyers in 2023, eliminating gains made during the pandemic.

Wealth, Prices Up: Real estate markets where crypto investment is popular gain steam when investors’ wealth booms, and house prices do too.

Opinion: “Housing Godzillas Fannie Mae and Freddie Mac are threatening the countryside again” by venturing into second mortgages.

Company News: Finance Of America will consolidate its two other brands under one name; the Tiffany Fisher team joined Fairway from Movement Mortgage.

NAR Fallout: Virginia Realtors say a new Zillow “touring agreement” created in the wake of the NAR settlement doesn’t hold up under VA law.

“Security Threat”: A new Florida law prohibits many Chinese citizens from buying homes. Critics say it fueled discrimination and chilled the local property market.