Morning Roundup (9/22/2021)– Loan Applications, Housing Starts Up

Good Morning! Today is Wednesday, September 22. The House passed a bill to keep the government open and prevent a debt default, but Senate Republicans will likely block it. The Taliban asked to participate in the U.N. General Assembly this week to gain international representation. The DOJ and six states are challenging American Airline’s partnership with JetBlue, alleging it violates anti-trust laws.

And in mortgage and housing news…

Mortgage Loan Apps Up: Mortgage loan application volume rose 4.9% last week, the MBA weekly survey found.

Anthony Casa Abuse: The case of Anthony Casa, the AIME Chair who threatened and sexually harassed a competitor’s wife last year, perfectly demonstrates the difficulty of holding individuals accountable, Christine Lenzo writes.

August Housing Starts: Northeast housing starts saw their biggest monthly gain since 1959, according to a report from the Census Bureau and HUD.

Renters Dominate Suburbs: American suburbs surrounding the nation’s 50 largest metros gained 4.7 million new residents since 2010, most of whom are renters, RentCafe reported.

Variable CEO Compensation Up: One-third of the compensation paid to non-controlling shareholder real estate CEOs is variable, according to the 2021 RealTrends Brokerage Compensation Report.

“House America”: HUD and USICH announced a joint project to target homelessness using funds made available through the American Rescue Plan.

“Capital Fiction”: In a blog post, former Fannie Mae CFO Tim Howard accused former FHFA head Mark Calabria of “concocting” the current capital rules for Fannie and Freddie.

Bias Impacts Ownership: A Brookings Institution report sponsored by the Change Company found that segregation and bias influence Black Americans’ ability to build wealth through homeownership.

Cash Offer: Rocket Mortgage announced a tender offer to purchase for cash any of its outstanding 5.250% senior notes due 2028.

Int’l Perspectives: China’s housing bubble has survived since 2010, but as one of its largest developers buckles under debt, some worry it may be about to burst.