Morning Roundup (6/14/2024) — Fathers And Sons

Good Morning! Today is Friday, June 14. The G7 vowed action against “unfair” business practices by China. The Supreme Court upheld access to the abortion pill mifepristone. Donald Trump turned 78 today.

The Mortgage Note Reports

Fathers And Sons: This Father’s Day, father and son lending teams across the country will be celebrating their family bonds. Writer Erin Flynn Jay interviewed two families that have found success by working together.

Serving Everyone: The CEO of LoanLogics says they are embracing advancements in technology to better serve their clients and improve the entire mortgage ecosystem.

Rates Down: Mortgage rates fell to 6.95% on positive inflation data that suggested a cooling economy, though housing inflation remained elevated.

Sales Hit: May home sales took a major hit as the median U.S. home price hit another record high, resulting in the third slowest month for sales in a decade.

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…

Rate Impact: The Fed’s latest interest rate decision could negatively impact a housing market that is already near a “breaking point.”

Fraud Alert: A former home builder pleaded guilty to conspiring to defraud the US and creating false documents for the purposes of mortgage fraud.

Company News: Gateway Mortgage is stepping up its teams’ knowledge of VA loans; Blackstone Mortgage Trust and M&T Realty Capital announced an agency multifamily lending partnership.

Apartment Frenzy: In a sharp reversal of recent declines, investment in apartments increased in the first quarter of 2024.

Firefighter Housing: Firefighters are living in cars, campgrounds, or on friends’ couches due to low wages and poor conditions at barracks.