Morning Roundup (8/25/2023) — Merger Concerns

Good Morning! Today is Friday, August 25. Donald Trump surrendered at an Atlanta jail yesterday and was booked on charges that he tried to overturn the 2020 election results. Maui’s government filed a lawsuit accusing a Hawaiian electric company of causing the recent wildfires. An F-18 military jet crashed near San Diego.

The Mortgage Note Reports

Strickman At NAF: Veteran marketing exec Andrew Strickman has been named Chief Marketing Officer by New American Funding.

Merger Concerns: As officials at the Federal Trade Commission continue to review the proposed acquisition of Black Knight by Intercontinental Exchange, the top Democrat on the House Financial Services Committee is reiterating her concerns about the deal.

Worse Than Worst: Mortgage rates spiked again last week, making housing even less affordable.

In other mortgage and housing news…

More Layoffs: Guaranteed Rate laid off “hundreds” of employees across two rounds of layoffs this month, including senior- and director-level positions.

Bad Time For Better Investors: Better went public at a bad time for lenders but nonetheless began trading Thursday. Its stock was down 93%.

DP Assistance: Zillow Home Loans announced a 1% down payment program to allow eligible home buyers to pay as little as 1% down on their next home purchase.

Pending Sales: Pending home sales inched up in July, stabilizing after months of steep declines.

Most Wanted: Americans prefer international vacation homes in Mexico, Canada, and Costa Rica for both personal use and business ventures.