Morning Roundup (7/18/2022) – Appraisal Modernization, Zoomer Homebuyers

Good Morning! Today is Monday, July 18. Ukraine’s president fired his country’s two top law enforcement officials. A report found “systemic failures” in the police response to the deadly Uvalde school shooting. A gunman killed three people in an Indiana mall before an armed bystander fatally shot the assailant.

The Mortgage Note Reports

Appraisal Modernization: As 94% of surveyed lenders agree that appraisal modernization efforts are valuable to the industry, two leaders who have witnessed the industry changing say new technology is making things possible that could have only been imagined in the past. Editor Kimberley Haas reports.

Zoomers Incoming: Gen Z is close on Millennials’ heels as the most influential homebuying cohort, and they will soon become major players in the housing market.

New Nations Lending Branch: Nations Lending has opened a new branch in Spencer, WI, to be led by veterans Sue Foley and Jason Schultz.

And in other mortgage and housing news…

Bringing Back The “Hotel-Spirit”: With the housing crisis continuing to grow, is it time to reintroduce extended stay hotel living to American society?

“Beware Wishful Thinking”: Suggestions that inflation has peaked and the looming recession will be mild are wishful thinking.

Debt Expectations: 43% of Americans expect to add debt in the next six months, fueled primarily by credit cards and auto loans.

Best Places To Rent: Renters looking for the most bang for their buck should head to small towns and cities in the Midwest and Southwest.

Zillow Lawsuit: Zillow wants a consolidated class action lawsuit dismissed.

Retail Sales: Retail sales rose 1% in June, more than expected, reversing a decline in the previous month, keeping pressure on the Fed.

Faith-Based Lending: Christian mortgage companies say they strive to bring faith-based ethics into their relationships with clients.

China’s Crisis: China may allow homeowners to temporarily halt mortgage payments on stalled property projects as authorities race to prevent an economic crisis