Good Morning! Today is Thursday, Aug. 26. Reports of a looming terror attack at the airport in Kabul has added new chaos to U.S. evacuation efforts. House Democrats are putting together a sprawling, $3.5 trillion spending bill that targets climate change, poverty, college financial aid and Medicare. Delta Airlines is charging unvaccinated employees $200 more on their health plans. A federal judge in Michigan sanctioned pro-Trump lawyers who sued officials over alleged voter fraud.
And in mortgage and housing news…
Mortgage Rates Hold Steady: Freddie Mac announced Thursday morning that mortgage rates were essentially unchanged, at 2.87 percent.
“Throwing Money At The Problem”: Neat Capital is offering refinance and mortgage applicants a $500 discount if they’re vaccinated.
LA Eviction Moratorium Upheld: The 9th Circuit Court of Appeals upheld Los Angeles’ eviction moratorium on Wednesday, rejecting an effort by Southern California’s largest landlord organization to reverse the restriction.
Refinance Pain, MSR Gain: The pandemic-induced wave of refinancing is winding down, a bad sign for mortgage volumes but good for New Residential’s MSR values. The Wall Street Journal reports: “A return toward 2019 values for MSRs could add $1 billion or more to the value of New Residential’s MSR portfolio, or $2.50 or more to book value a share, which was $11.27 at the end of the second quarter.”
Please Explain, Thanks: Industry voices asked HUD to raise and further explain the threshold for disparate impact claims after the department proposed reinstating its 2013 disparate impact rule.
New Residential Deal Closes: Private mortgage insurer National MI integrated with Mortgage Coach, increasing the number of loan comparisons available to their app-users.
What’s Up, DocMagic: E-mortgage company DocMagic, Inc. has been named in the 2021 Inc. 5000 list of the fastest-growing companies in the country.