Morning Roundup (8/19/2024) – Harris On Housing

Good Morning! Today is Monday. August 19. The Democratic National Convention begins today in Chicago. TV talk show host Phil Donahue died at age 88. Hurricane Ernesto is causing rough seas on the East Coast as it moves towards Canada.

The Mortgage Note Reports

Harris On Housing: Kamala Harris outlined her housing goals on Friday. Industry experts say the plan has pros and cons, with rent caps and tax incentives falling flat.

Armenta At Incenter: Mortgage industry pro Ralph Armenta joined Incenter Lender Services as President, Lending-in-a-Box.

In other mortgage and housing news…

“Glut Of Mediocre Realtors”: Industry veterans expect new rules on commissions that kicked in Saturday to weed out lackluster agents.

Major Drop-Off: Pending sales were down 3% month-over-month and 6% YOY last month—both of which were the biggest drops in nearly a year.

Keep A Close Eye: Mortgage delinquencies increased YOY across all product types in Q2 2024, corresponding with the rising unemployment rate.

Long-Term Benefit: FirstAm says the wealth-building effect of equity can’t be overlooked when deciding to rent or own, even if owning is more expensive monthly.

Company News: ICE announced several new enhancements to the Encompass digital mortgage lending platform.

No Partner, No Problem: “Single Income No Kids” (SINK) women are taking control of their own destinies and buying homes in droves.