Morning Roundup (8/16/2023) — Ishbia’s Mega-Mansion

Good Morning! Today is Wednesday, August 16. Trump and his 18 co-defendants in the Georgia 2020 election probe are expected to be booked at the Fulton County jail. The special counsel in the Jan. 6 indictment obtained Trump’s direct messages. X, formerly Twitter, slowed access to certain websites, including Substack and Facebook.

The Mortgage Note Reports

Living Large: The CEO of United Wholesale Mortgage is building a 63,000-square-foot mansion which will be the largest lived-in residence in Michigan, and it will have an amusement park. Writer Scott Kimbler has the story.

Continued Stress: Mortgage applications slipped slightly last week as rates reached their highest point since 2001, driven by mixed inflation data and elevated treasury rates.

Cenlar Hires: Cenlar FSB continues its hiring spree, announcing a host of promotions and hires across its leadership spectrum.

TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.

In other mortgage and housing news…

Starts And Permits: Housing starts rose to a 1.45 million annual pace in July as builders push new homes amid a shortage of existing inventory.

Moving Out, Moving In: Nassau County, NY, and Nassau County, FL, offer tidy counterpoints of the impact of building permits on livability and affordability.

Building The Future: Down Payment Resource, Freedom Mortgage, and Cross Country were counted among the 66 mortgage companies on this year’s Inc 5000 list.

Boomers On Top: Baby boomers hold $18 trillion in housing wealth—more than triple the amount owned by millennials, who’ve had a tough time breaking into the market.