Good Morning! Today is Friday, Aug. 27. A terrorist attack at the Kabul airport killed 13 U.S. service members and at least 90 Afghans. President Biden said airlift efforts would continue despite the attack. Capitol Police officers sued former President Trump, along with groups like the Proud Boys, over the January 6 riot, saying they incited violence against officials and police. Hawaii’s Governor David Ige asked travelers to stay home through October as hospitals struggle with rising Covid cases.
And in mortgage and housing news…
Mat Ishbia’s Bitcoin Play Raises Concerns: UWM CEO Mat Ishbia’s announcement that he intends to accept Bitcoin has raised questions among economists and within the industry about encouraging consumers to rely on the “volatile” cryptocurrency for their mortgage payments.
Moratorium Overturned: The Supreme Court released an unsigned opinion Thursday night overturning the national eviction moratorium. Millions of renters who have fallen behind on payments could face eviction.
More Money, More Problems: The end of the eviction moratorium comes on the heels of a $3.5 trillion spending plan, putting pressure on Congress to address affordable housing, according to the Center for Public Integrity.
D.C. Opens The Coffers: Washington D.C. has distributed 70% of its federal rental assistance money as applications skyrocketed thanks to eviction moratorium fears.
Out Of The Frying Pan: Experts say the affordable housing crisis has been around since before the pandemic, and it’s only getting worse.
Bubble Set To Burst?: Investor Peter Boockvar warned that federal pandemic policy is stoking another equity-destroying real-estate pricing bubble.
Head Honcho: Alterra Home Loans promoted former EVP of retail lending toMarc Hernandez to president.
Non-Agency Origination’s Angels: Angel Oak Capital Advisors announced that it is putting approximately $1 billion into non-agency mortgage originations.
AmeriSavexDolphins: AmeriSave has teamed up for a multi-year deal with the Miami Dolphins.