Good Morning! Today is Thursday, June 2. A man carrying a rifle and a handgun killed four people and wounded several others inside a medical office building in Tulsa. The U.S. will airlift baby formula from Europe. Doctors transplanted a 3-D printed ear made from human cells.
The Mortgage Note Reports
Foreclosure Bump: Zombie foreclosures rose 3% from Q1 to Q2 2022, the first increase in a year, as overall foreclosure activity jumped 13%.
Apps Down: Mortgage loan application volume dropped another 2.3%, the fourth decrease in five weeks and the lowest level since December 2018.
Most Popular: In May, our story on bidding wars in the rental market was the most popular story posted on social media. What topics would you like to see covered? Email Editor Kimberley Haas at [email protected].
And in other mortgage and housing news…
UWM Settlement: UWM will pay up to $2.75 million to settle arbitration claims involving overtime, though it denies any wrongdoing.
Overpriced Markets: Four U.S. housing markets are overvalued by more than 60%, while 11 others are overvalued by more than 50%, researchers found.
“It’s A Hurricane”: JPMorgan Chase CEO Jamie Dimon says he is preparing the bank for an economic hurricane on the horizon and advised investors to do the same.
Originations Falling Short: Fitch Ratings says the YTD pace of falling mortgage originations has surpassed its expectations and is likely to fall short of industry forecasts.
Public Comment Request: MISMO is seeking public comment on its latest version of the Life of Loan Process Model through August 1.
Changing Times: Redfin is advising home sellers to list soon and price their homes slightly lower than other similar homes in their market.