Good morning! Today is Thursday, April 8. The CDC reports that the UK variant of the Covid-19 virus is now the dominant strain the U.S. The Biden administration is considering an export ban on a Chinese company involved in the development of hypersonic missiles. Researchers say patients who use “Dr. Google” to find out what’s wrong with them will likely get the right diagnosis.
And in mortgage and housing news …
MORTGAGE APPS: The Mortgage Note reports that mortgage applications slid 5 percent for the week ending April 2 amid higher interest rates, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey.
“RESPONSIBLE SERVICERS”: The nation’s consumer protection agency is cracking down on mortgage servicers that don’t assist struggling homeowners.
SERVICE QUALITY UPGRADE: The upgrade of Quicken Loans’ Service Quality assessment is mainly driven by improvement in the company’s financial stability.
BUYER’S MARKET?: Some of the conditions that made it such a great move to buy a house in 2020 have begun to change. So is it still a good time to buy a house?
CREDIT REPORT: When does debt fall off your credit report?
BEST FINTECHS: Bank data services represent a category that’s gone from a 25 to 75 percent lender adoption rate in the last three years.
WEDGEWOOD CHALLENGE: A California law designed to prevent pandemic house-flipping is getting put to the test by a grandma challenging foreclosure on her house.
APPRAISAL GAP: The gap between appraisal and what buyers are willing to pay in one of the wildest real estate markets in modern history has created friction between agents, lenders and appraisers working under stressful conditions.
GUILD MORTGAGE EXPANDS: San Diego-based Guild Mortgage has opened its first two Midwest offices in Ohio – one in Columbus and the other in Dayton.
ILLINOIS HOMEOWNERSHIP: Illinois is paying off $25 million in student loans to encourage homeownership, and that’s drawing buyers to the state.