Mortgage Roundup (4/29/21) – Refis, Apps & Texas

Good morning! Today is Thursday, April 29. Federal investigators seized former New York City Mayor Rudy Guiliani’s electronic devices as part of a probe into possible violation of foreign-lobbying rules. The TSA wanted 6,000 new officers by summer, but most positions remain unfilled as airlines expect a passenger surge. Microsoft is retiring its default font Calibri, and it wants your help choosing a new one.

And in mortgage and housing news …

FHFA REFINANCE OPTION: The Mortgage Note reports on a new Federal Housing Finance Agencyrefinance option that will provide low-income borrowers with reduced interest rates and lower monthly payments.

APPLICATIONS: Mortgage applications declined slightly for the week, the Mortgage Note reports.

UWM OUSTED: Guaranteed Rate ousts United Wholesale Mortgage as top prime non-agency Mortgage Backed Securities lender.

MOVING TO TX: High taxes in states like California are drastically changing real estate trends

VIRTUAL LAND INVESTING: Millions of dollars are being spent on digital real estate as the Non-Fungible-Token wave sweeps the internet – but what makes the virtual land grab so popular?

FHA ELIGIBILITY: Borrowers with not-so-perfect credit may be eligible for FHA home loans.

MORTGAGE GROWTH: The biggest impediment to mortgage growth is a shortage of new homes.

REGULATION Z: How Regulation Z protects against predatory lending practices. 

CITIGROUP MORTGAGE TECH: Citigroup invests in mortgage tech, as part of its efforts to close the racial wealth gap.

FRAUD RISK: Fraud risk at closing increased almost 90 percent last quarter.

UPFRONT UNDERWRITING: Upfront underwriting gives homebuyers an edge in today’s competitive real estate market.

OVERLOOKED MARKETS: Previously overlooked real-estate markets brace for the “New American Consumer.”