Morning Roundup (6/20/2024) — Tech Changes The Game

Good Morning! Today is Thursday, June 20. Louisiana ordered a Ten Commandments poster to be displayed in every classroom. Vladimir Putin promised North Korea technological help. Wildfires in New Mexico killed two people.


The Mortgage Note Reports

Take A Look: Advances in artificial intelligence and other technologies are changing the game for homebuyers and real estate professionals.

Construction Slump: Residential construction declined by more than expected in May, with housing starts falling to their lowest level in four years.

It Pays To Flip: Home flippers enjoyed increased profits in Q1 2024 but face headwinds moving forward as sellers lose some power to buyers.

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…

Bad Behavior: A former agent suing eXp Realty revealed new allegations that the company and its founder, Glenn Sanford, ignored reports of sexual assaults.

Out Of Reach: A median-income household would need a $127,000 down payment, more than 35%, to afford the monthly payments on a typical home.

Reason To Move: First American says the “Five D’s” of life events—diapers, diplomas, divorce, downsizing, and death—are forcing homeowners to sell despite elevated rates.

Rent Gauging: RealPage, the rent-fixing software company currently under FBI investigation, also has apps for bogus fees, monetizing vacant apartments, and inflating toxic property bubbles.

Company News: Investor Loan Source expanded its real estate lending business with the addition of Mortgage Director Minesh Brahmbhatt.

UWM Defense: UWM’s Alex Elezaj responded to skeptics of its 0% down product, saying it’s a “fantastic program” that is totally different from similar deals in the 2000s.