Morning Roundup (8/28/2023) — “It’s All Connected”

Good Morning! Today is Monday, August 28. Tropical Storm Idalia is expected to morph into a Category 3 hurricane as it approaches the U.S. A white gunman killed three Black people at a Dollar General in Jacksonville, FL, on Saturday. Russian officials confirmed the death of Yevgeny Prigozhin, citing a genetic analysis of remains.

The Mortgage Note Reports

It’s All Connected: Inflation has affected the housing market as higher costs of living puts more stress on the average person’s finances. Writer Erin Flynn Jay has the story.

Rocket Cares: Rocket Companies has earned second place in PEOPLE’s 100 Companies That Care rankings for its contributions to Detroit homeowners.

Guild Acquisition: Guild Mortgage acquired Illinois-based First Centennial Mortgage as it continues to expand across the U.S.

In other mortgage and housing news…

“Culture Of Fear”: An explosive expose found that women allegedly face sexual harassment, retaliation, and silencing at NAR.

AmeriFirst Down: AmeriFirst Financial filed for bankruptcy just two months after the company resumed its forward mortgage origination business.

Change No Longer: Change Lending lost a certification to issue non-QMs for underserved borrowers after an investigation found it was lending to the ultra-wealthy.

First In TN: First Home Mortgage announced the opening of a new office branch in Sevierville, Tennessee, its first location within the state.

Quick Take: Five ways surging mortgage rates are shaping the housing market.