Mortgage Roundup (4/27/21) – UWM, Feds & TikTok

Good morning! Today is Tuesday, April 27. The new census shows that the U.S. population grew at the second lowest pace in history. Californians gathered enough signatures to force a recall election of Gov. Gavin Newsom. The pink Super Moon set this morning – the first of two Super Moons in 2021. 

And in mortgage and housing news …

UWM ISHBIA SUED: The Mortgage Note reports that a Florida real estate broker filed a federal lawsuit against United Wholesale Mortgage’s parent company and CEO Mat Ishbia over the launching the Broker Wars.

FED ACTION: What to know about how the Federal Reserve’s actions affect mortgages.  

INSURANCE COSTS: Insurance costs threaten Florida’s real estate boom. 

LOWER PAYMENTS: Five ways to lower your monthly mortgage payment.

ESCALATION CLAUSE: Builders are trying to protect against high lumber costs by adding escalation clauses, but they could end up losing customers.

EVICTION BAN: As the pandemic lifts, landlords await relief on evictions. A ban on evictions has stuck building owners with rent scofflaws and squatters, forcing them to cut expenses and lowering the quality of the housing stock.

“PREHISTORIC” UNDERWRITING: The president of Finance of America believes that even as agencies have digitized and automated elements of their underwriting process have not kept pace with the times. 

TIK TOK: Real estate agents are finding success by turning to Tik Tok for all kinds of property categories.  

HOUSEBUYING PREP: Five things not to do before buying a house. 

BIGGER DOWN PAYMENTS: The median down payment in some states is now $100,000. But most homebuyers are putting down far less than 20 percent of the purchase price.