Morning Roundup (8/3/21) — Major Mortgage Lender Struggles to Explain its Refund Policy

Good Morning! Today is Tuesday, Aug. 3. U.S. Sen. Lindsay Graham said he tested positive for COVID-19 after being vaccinated against it. The U.S. women’s soccer team lost its shot for the gold against Canada. Alliant became the latest major credit union to ditch overdraft fees. Florida-based Spirit Airlines threw travel into chaos after cancelling more than a third of its flights. Comedian Kathy Griffin announced she has lung cancer.

And in mortgage and housing news…

An ‘Offensive’ Refund Policy: A major mortgage lender struggles to explain its new rules on refinancing fees.

Major Affordability Investment: A longtime housing nonprofit announced it has invested nearly $1 billion in affordable housing over the past year.

Mortgage Forbearance Drops Again: The rate of mortgage forbearance around the U.S. dropped again this week as part of a recent downward trend that may be slowing.

No End in Sight? A real estate analyst predicts that home prices will stay up and the rest of the year will be “brutal” for homebuyers.

Targeted Moratorium Extension: The Federal Housing Finance Agency extended its moratorium on single-family real estate owned evictions through at least September.

Is That Fixer-Upper Worth It? Great deals on old homes can also come with hefty repair bills.

Diversifying: Rocket Companies—the corporation whose mortgage division is the largest lender in the U.S.—saw a big jump in stocks on Monday after it announced a planned foray into the solar industry.