Good Morning! Today is Thursday, June 1. The House passed a debt limit bill in a bipartisan deal to avoid a default. Federal prosecutors have a recording of Donald Trump speaking about a sensitive document he kept after leaving office. Danny Masterson, an actor in “That ’70s Show,” was found guilty of two counts of rape.
The Mortgage Note Reports
Planet Buys Platinum: Planet Home Lending is expanding its footprint once again, this time acquiring Illinois-based retail lender Platinum Home Mortgage.
DwellWell’s AI: Real estate fintech DwellWell has launched “Dwelly,” the first-ever conversational AI designed for homebuyers.
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…
Prices, Inventory Down: Inventory was down again in May and is declining in many metros, contributing to home price growth growing at the slowest rate since 2016.
FirstClose Changeup: Fintech FirstClose announced CRO Tim Smith has been appointed to Chief Strategy Officer and SVP Craig Austin has been promoted to CRO.
Affordability Hit: Affordability fell in March, breaking a four-month streak of easing costs and cutting into Americans’ housebuying power.
Request For Input: The FHFA wants feedback on a proposal for a new home retention option that would provide temporary financial help to struggling homeowners.
“Risk Has A Price”: State Farm is just one insurance company refusing to cover homes in high-climate risk areas, no longer offering homeowners insurance in CA.
True Cost Of Ownership: Homeowners can expect to pay $14,155 a year, or $1,180 a month, in hidden costs related to owning a home, a Zillow analysis found.