Morning Roundup (6/12/2024) — VA Update

Good Morning! Today is Wednesday, June 12. A federal jury convicted Hunter Biden on three counts for lying about drug use when he bought a handgun in 2018. The EU will put extra tariffs of up to 38% on Chinese electric vehicles. A U.N. commission accused both Israel and Palestinian groups of war crimes.


The Mortgage Note Reports

VA Update: The VA says eligible buyers can pay for certain buyer-broker fees when purchasing a home with a VA loan, fixing an issue that arose from the NAR settlement.

Temporary Bump: Mortgage applications rose last week as rates briefly cooled, but the trend is not expected to last, thanks to less-than-ideal employment data.

Technology Podcast: Generative AI is revolutionizing every aspect of the mortgage industry. Hear from industry leaders about its impact on accuracy, efficiency, and enhanced customer service.


In other mortgage and housing news…

Wide-Ranging Implications: The class action lawsuit against UWM has increased industry attention on RESPA Section 8 and its relationship to wholesale lenders.

Free Speech Violated?: MLS PIN, the listing service that has become a focal point of DOJ interest in commission practices, filed its long-awaited response to regulators.

Foreclosure Data: Foreclosure starts increased by 3% last month, though they were down 7% YOY, while completions fell by 1%.

Financial Tools: FinLocker’s financial fitness services are now available to all EasyKnock customers, helping consumers meet their homeownership goals.

Company News: Figure launched a blockchain-based multi-seller, multi-buyer marketplace of private credit loans.

FL Market Hit: Housing markets in western Florida are cooling faster than the rest of the U.S. as natural disasters intensify, new construction soars, and demand wanes.

Protect Your Home: These U.S. counties are the most at risk for flood damage.