Morning Roundup (6/1/2022) – Home Price Gains

Good Morning! Today is Wednesday, June 1. The Supreme Court blocked a Texas law that would stop social media companies from removing posts based on the views they express. Israel and the United Arab Emirates signed a deal to remove tariffs on nearly all bilateral trade. Wildfires have burned more than 600,000 acres across New Mexico.

The Mortgage Note Reports

Home Price Gains: Home price appreciation continues to soar, with both the S&P CoreLogic Case-Shiller Indices and the FHFA HPI posting significant gains.

Yanoti Rejoins AFR: Timothy J. Yanoti is returning to mortgage lender American Financial Resources as President and CFO.

And in other mortgage and housing news…

Biden, Powell Meet: Jerome Powell met with President Biden to discuss inflation, the plan for which Biden summed up as “respect the Fed.”

Q1 Home Prices: U.S. house prices rose 18.7% from Q1 2021 to Q1 2022 and 4.6% from Q4 2021 according to the FHFA HPI.

KBRA Release: KBRA released a report on the return of no-doc loans to PLSs, with a focus on loans originated by CDFIs that are exempt from Ability to Repay rules.

Class-Action Suit: A class-action lawsuit claims that Wintrust Financial and one of its subsidiaries systematically discriminate against Black mortgage loan borrowers.

“Overvalued” Markets: Mark Zandi told Fortune it’s premature to use the term “housing bubble” but said some markets are at higher risk than others.

Landlords Rebrand: Some landlords want to be called “housing providers” instead to combat the stigmas associated with the term, sparking a semantics debate online.

Total Strangers: NYC apartment hunters fighting the housing shortage are moving in with groups of strangers.