Good Morning! Today is Tuesday, August 23. The government has recovered more than 300 classified documents from Donald Trump since he left office. Dr. Anthony Fauci says he will step down in December after nearly four decades. An ex-Twitter exec has come forward as a whistleblower on “reckless and negligent” cybersecurity policies.
The Mortgage Note Reports
The Lending Architects: The new executive vice president and chief operating officer at LendArch says they can enable lenders to optimize the mortgage experience from start to finish by digitalizing the real estate financing process. Editor Kimberley Haas sat down with Karthik Kumar to learn more.
Home Sales Drop Off: New home sales fell in July to a seasonally adjusted annual rate of 511,000, down 12.6% from June and 29.6% YOY.
Ouwerkerk Takes The Title: Ian Ouwerkerk has officially been named Freddie Mac Multifamily’s SVP of Underwriting and Credit after serving as interim SVP since Q1.
OCC Update: Leaders at the Office of the Comptroller of the Currency have released their annual update to the Bank Accounting Advisory Series.
And in other mortgage and housing news…
New Home Purchases: Mortgage applications for new home purchases fell 16.1% YOY as buyers delay decisions because of economic uncertainty and high prices.
Price Growth Cools: AEI’s National Home Price Appreciation Index for July 2022 averaged 13.7%, down from 15.1% a month ago and 16% a year ago.
Mosby Trial: Prosecutors said the government plans to seize Baltimore State’s Attorney Marilyn Mosby’s Florida vacation condo if she’s convicted of perjury and mortgage fraud.
Worst Since ’08: IMBs are feeling the pain from a housing market that has been described as in the worst shape since the bubble burst in 2008.
loanDepot Bias: A Maryland couple is suing an appraiser and loanDepot, alleging that the appraisal they received was unfairly low due to their race.
Black Buyers Denied: The mortgage denial rate for Black buyers in the nation’s 50 largest metros is 9 points higher than the denial rate for the overall borrower population.
“Resist the Siren Song”: If you’re borrowing money to buy a home and think the answer to a cheaper mortgage is a 40-year loan, think again.
Take A Look: “Barbiecore” is the latest interior design trend, packing colorful, playful designs into real-life Dreamhouses.