Mortgage Roundup (2/8/21) – Ads, Boom & Fraud

Good morning! Today is Monday, February 8. The Tampa Bay Buccaneers beat the Kansas City Chiefs in the Super Bowl. Democrats will propose a $3,000-per-child benefit today as part of a Covid-19 stimulus relief package. Chicago teachers tentatively agree to return to classrooms for in-person instruction this week. 

And in mortgage and housing news …

SUPER BOWL ADS: Several lenders got in on the Super Bowl ad game. Comedian Tracy Morgan teamed up with Rocket Mortgage to deliver with a humorous “Certain is better” tag line, and Guaranteed Rate featured elite athletes with an “I believe you will” message. 

FORBEARANCE EXIT: The first round of CARES Act mortgage forbearance relief is about to expire in March.

10-YEAR BOOM: A new long-term housing boom is upon us. And COVID-19 is the main reason why.

HOUSING INSECURITY: Eviction moratoriums don’t keep arrears from piling up, and aid to renters may not reach the most vulnerable.

REAL ESTATE FRAUD: Five people have been charged with first-degree conspiracy for allegedly conspiring to defraud two investors and two mortgage lenders of more than $500,000.

SUPER BOWL CITY: While Jeff Vinik, Bill Gates and Ian Schrager did not be suit up for the Super Bowl, the trio are key players in a $3.5 billion mixed-use project set to transform the Tampa’s downtown waterfront.

NO CLOSING COSTS: You can refinance your home with no closing costs — but there’s a major downside.

ISHBIA DONATION: UWM CEO Matt Ishbia donates $32 million to Michigan State. 

LOAN LIMITS: Higher conforming loan limits are good news for homebuyers. 

MORTGAGE HIRING: Mortgage hiring growth slows as overall job market shows weak gains.