Morning Roundup (9/20/2023) — Applications Lift

Good Morning! Today is Wednesday, September 20. India denied killing a Sikh separatist in Canada, escalating tension between the two countries. Hard-line House conservatives sank a procedural vote on a Pentagon funding bill. Pennsylvania will automatically register eligible voters when they get a new driver’s license or state ID.


The Mortgage Note Reports

Applications Up: Mortgage applications spiked last week, with both purchase and refinance loans seeing a boost, despite rates increasing to 7.31%.

Haven Leadership: Mortgage tech company Haven Servicing appointed Daniel Wallace as its new CEO, while current CEO Jonathan Chao will transition to CPO.

In other mortgage and housing news…

AI Rules: The CFPB issued guidance on legal requirements for AI, reminding lenders that consumers must receive accurate and specific reasons for credit denials.

Rate Stability: One-third of Americans feel like they’re in a worse position to buy a home now than five years ago, and many don’t understand the mortgage process.

Mixed Feelings: Nearly four in five Americans support policies that promote building more housing, but far fewer support an apartment complex in their own neighborhood.

FL Scheme: Two Florida roofing contractors were sentenced to prison for a scheme to evade over $1.1 million in income taxes.

Trend To Watch: This week saw the biggest inventory increase all year, growing by over 9,000 single-family homes, and more spikes are coming.