Good morning! Today is Monday, May 10. Americans are relieved as rocket debris is reported to have splashed down in Indian Ocean west of Maldives. SpaceX accepted Dogecoin as payment to launch ‘DOGE-1 mission to the Moon’ next year. Kentucky Derby winner Medina Spirit failed a postrace drug test, trainer Bob Baffert said, raising the prospect of a disqualification in horse racing’s marquee event.
And in mortgage and housing news …
FADING BOOM: A decline in demand is fueling price wars across the mortgage industry, pushing down profits and spooking the shareholders of firms that went public during the lending boom.
SEVERE WEATHER: There are more reasons this year to check your homeowners insurance.
ROCKET AUTO: Rocket Mortgage Company is adding auto loans to its future e-commerce platform.
RISING RATES: Rising mortgage rates are not a barrier for Millennial homebuyers.
HECM SETTLEMENT: Nationwide Equities Corp. settled with HECM over claims it misinformed consumers about how much money they could receive from a reverse mortgage, the fees and costs of the loan and the consequences of nonpayment.
SECOND-HOME SALES: Three issues that could affect second-home sales.
EMPLOYMENT GAPS: Mortgage lenders look at job consistency when making loan approval decisions.
CREDIT CORRECTIONS: Credit report inaccuracies have increased dramatically.
ROCKET SLUMP: Shares of mortgage lender Rocket Companies stock fell 16.6% as investors and analysts continue to digest the company’s Q1 earnings results.
BANK MERGERS: Will the new Administration rewrite the rules on bank mergers?