Good morning! Today is Friday, December 11. Congress remains at odds over an economic stimulus package.Missouri joins five other states in supporting Texas’ Supreme Court fight against swing states to overturn their Presidential election results. NASA has named the 18 astronauts — half of them women — who will train for its Artemis moon-landing program.
And in mortgage and housing news …
IT’S OFFICIAL: President-elect Biden officially nominates Rep. Marcia Fudge to lead HUD.
RECORD LOW: Mortgage rates remain at their lowest on record.
UNDERWRITING RULES: The Consumer Financial Protection Bureau issued two final rules revising the definition of “qualified mortgage” to promote access to credit and transition the market away from an exemption given to Fannie Mae and Freddie Mac.
GSE CONSERVATORSHIP: Wall Street continues to look for signals in a murky debate over GSE conservatorship.
LENDER PROSPECTS: After six consecutive quarters of bullish profitability predictions, the net profit margin outlook for mortgage lenders crept into negative territory in the fourth quarter.
RECORD ORIGINATIONS: Mortgage originations are on pace for a record year.
FORECLOSURE REPORT: Foreclosure filings decline as moratorium is extended through January.
HOMEOWNER HELP: What struggling homeowners need to know before the end of the year.
MORTGAGE TECH: Rocket Pro TPO recently launched two pieces of technology informed by feedback from the broker community which will improve operations and provide lending officers with an avenue to better serve their clients through 2021 and beyond.
TIGHTER UNDERWRITING: Tighter underwriting criteria put into place by lenders as a result of COVID-19 will mean 2021-vintage residential mortgage-backed securities should have strong credit metrics.
AGENT SUCCESS: Simple techniques for keeping real estate agents on track so that they can head into 2021 confident in their business.