Good morning! Today is Monday, April 19. President Biden announces new sanctions on Russia over hacking and election interference. Four pharmaceutical companies on trial today in California over claims they fed the opioid crisis could help finalize multibillion-dollar settlements with state and local governments. Apple pays the music industry a penny per stream on its service, a disclosure it made as part of an effort by music-streaming services to show they are artist-friendly.
And in mortgage and housing news …
ANOTHER BUBBLE: The real estate investor who shorted subprime mortgages says this housing boom is in a bubble, too.
FAIR HOUSING POLICY: The Biden administration has begun its efforts to roll back changes to two key fair-housing policies that were altered during the Trump administration.
MORTGAGE MERGERS: New Residential agreed to buy Caliber for $1.675 billion in cash. It will fund the transaction with $675 million in available cash and liquidity, a capital raise, and the cash on Caliber’s balance sheet.
SELLER’S MARKET: Thinking about selling your home in 2021? If so, you might want to consider selling it sooner rather than later. Current housing market conditions tend to favor sellers over buyers.
GSE CONSERVATORSHIP: The Supreme Court is expected to issue an inescapable ruling that outlines the correct way for the government to interpret HERA 2008, which puts GSE’s in conservatorship.
CREDIT SCORES: Ten credit score myths consumers need to stop believing.
REFINANCING: Is mortgage refinancing still worth pursuing as rates rise?
FURLOUGHED BORROWERS: At the beginning of the pandemic, most lenders were supportive of borrowers on furlough but gradually the market has shrunk.
CREDIT UNIONS: How long can credit unions keep sacrificing fees?
MORTGAGE BOOM: In a way, the residential mortgage bankers’ prosperity is the other side of the distress in much of the US commercial property business. Those conditions are shifting.