Morning Roundup (6/5/2024) — Do Business Now

Good Morning! Today is Wednesday, June 5. Ukraine struck missile launchers inside Russia using American weapons. Israel boosted its military offensive in Gaza amid renewed truce efforts. Wisconsin charged three former Trump advisers in a 2020 fake electors scheme.

The Mortgage Note Reports

Do Business Now: Industry veteran Fred Wilson offers his advice for succeeding in real estate: focus on clients, not cash, and on today’s business, not a future boom.

CRE Pains: Commercial mortgage delinquencies rose in Q1 2024 as the CRE world faces a mountain of financial stress.

Brown At Gateless: Mortgage technology company Gateless appointed Mike Brown as its Chief Revenue Officer.

In other mortgage and housing news…

Hometown Goes Down: Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s inflation fight for its failure.

Check The Fine Print: The CFPB warned companies against using illegal or unenforceable “fine print” tactics for their terms and conditions that “trick” consumers.

Rental Balance: Job growth, immigration, and high mortgage rates are fueling the apartment market, and demand is balanced out by new supply.

Inventory Improves: Housing supply is up in 90% of metros, with some major markets returning to, and even exceeding, pre-pandemic levels.

Company News: Summit Funding announced key hires in multiple regions.

Check It Out: This Bel-Air mansion is America’s most expensive home.