Morning Roundup (7/8/2024) — Commission Splits

Good Morning! Today is Monday, July 8. Top House Democrats told colleagues in a private call that it was time for President Biden to end his campaign. Left-wing candidates bested expectations in the second round of France’s national election. Flooding and landslides killed at least 15 people in Nepal.


The Mortgage Note Reports

Commission Splits: Mortgage companies are fighting to recruit and retain top performers, even offering 100% commission splits. Could these programs gain traction as the industry continues to change? Writer Erin Flynn Jay has the story.

Adios Snow: Writer Chuck Green found that Americans are moving for affordability and warmer weather, a trend that started before the Covid pandemic and is likely to continue.

Fleeing Cities: Urban living is taking a back seat to spacious suburbs for both parenting-aged Millennials and affordability-minded Zoomers seeking natural beauty.

Cautious Optimism: Housing sentiment rebounded somewhat in June, returning to a likely plateau after dipping to a survey-low the month prior.

In other mortgage and housing news…

Sweeping Ruling: The Supreme Court overruled precedent giving regulatory power to federal agencies in a far-reaching ruling that may impact Biden’s affordable housing mandates. NAHB applauded the decision.

Garg Found Guilty: A New York jury found controversial CEO Vishal Garg liable for breach of fiduciary duty in a lawsuit filed by his former partner, Raza Khan.

“Bonanza Of Rate Cuts”: Analysts at Citi Bank say slowing inflation will lead to the Fed cutting rates by 25 basis points eight times, starting in September through July 2025.

CoStar Pushes Back: CoStar execs are fighting back against Move Inc.’s trade secret lawsuit, calling it a “sick, twisted PR stunt.”

Going Up?: One researcher found the reason for high housing costs and low-quality homes while studying the lack of elevators in the U.S.