Mortgage Roundup (3/31/21) – Bitcoin, Twitter & Lumber

Good morning! Today is Wednesday, March 31. All 50 states now have expanded or will expand Covid vaccine eligibility to everyone 16 and up. Google Maps has a new feature that will guide you through indoor spaces like airports. The Bidens’ dog Major has been involved in another biting incident that required medical attention.

And in mortgage and housing news …

CRYPTOCURRENCY: The Mortgage Note examines tech-forward companies’ including Tesla, MicroStrategies and Square investments in the cryptocurrency, while traditional investors and financial institutions are still approaching Bitcoin with skepticism. 

NAMING RIGHTS: The Mortgage Note reports that the Miami Marlins have joined the growing trend of selling naming rights to banks or mortgage companies, as media reports say the Marlins ballpark will be known as loanDepot Park beginning – just in time for Opening Day.

TWITTER WARS: The Mortgage Note spotlights a budding Twitter war between Zillow and Remax.

COVID BANKRUPTCY: Covid-19 was supposed to drive bankruptcies higher. The opposite happened.

AFFORDABILITY: Searching for an affordable home in one of the nation’s most expensive, tight housing markets.  

NEW HOUSING: A perfect storm of factors sends lumber costs up and pushes the price of new housing even higher.

MALL EQUITY STAKES: Lenders are taking equity stakes in Mall of America after its owner defaulted on the multibillion-dollar American Dream development, according to reports in the Financial Times, Bloomberg and other media.

CREDIT SCORES: The credit score your mortgage lender uses isn’t the same one you see on your favorite app. For example, medical debt is no longer considered under FICO, but it still applies as mortgage qualification criteria. 

MIDDLE-AGED MILLENNIALS: One of the persistent myths about the millennial generation is that they are overwhelmingly renters. However, a significant number now owns a home and are burdened with debt.