Morning Roundup (6/26/2024) — Racketeering Lawsuit

Good Morning! Today is Wednesday, June 26. Wall Street Journal reporter Evan Gershkovich went on trial today in Russia on espionage charges. Kenyans stormed their Parliament building in protest against a bill raising taxes. Rep. Jamaal Bowman, a member of the “Squad,” lost to George Latimer in New York’s Democratic primary.

The Mortgage Note Reports

Racketeering Lawsuit: Lawyers for United Wholesale Mortgage have moved to dismiss a class action lawsuit alleging violations of the RICO Act.

New Sales Tank: New home sales plunged last month, falling by 11.3% to their slowest pace since November and more than 16% YOY.

Applications Stall: Mortgage applications inched up last week, moving just slightly despite rates falling to a three-month low.

Opinion: The executive director of the Community Home Lenders of America says we need a sustained commitment to constructive solutions to meet homeownership affordability challenges head-on.

In other mortgage and housing news…

Heat And Housing: A lack of affordable housing and high energy costs are making Americans more vulnerable to record-breaking heat, public health experts say.

HUD Grants: HUD is awarding $85 million to the Pathways to Removing Obstacles to Housing (PRO Housing) and $142 million under its Green and Resilient Retrofit Program.

The Strong Will Survive: Not every mortgage lender survived rate hikes, and now the ones that did face the double-edged sword of artificial intelligence.

Company News: Xactus named Joseph Peterson its Chief Financial Officer.

Mapped: The U.S. dominates this list of the world’s least affordable housing markets.