Good morning! Today is Wednesday, July 15. The first COVID-19 vaccine tested in the U.S. shows promising immune response ahead of a large trial. The White House is urging the National Guard to play a role in coronavirus data gathering, taking the CDC out of loop. International college students will not be required to attend in-person classes to remain in the country.
And in mortgage and housing news …
MORTGAGE APPS: Mortgage applications jumped 54.1 percent in June over a year ago, according to a report released by the Mortgage Bankers Association.
CASA FALLOUT: The attorney for a woman suing AIME boss Anthony Casa for lewd and misogynistic statements spoke to the Detroit Free Press, calling Casa’s apology “insulting.”
HOMEBUILDING SURGE: Sales of newly built homes surged 55 percent in June—the highest pace of sales growth in homebuilding since the housing boom back in 2005 and 2006, according to new data from John Burns Real Estate Consulting.
FSOC DECISION: FHFA Director Mark Calabria applauds the FSOC’s decision to review secondary mortgage markets.
FHFA NOT CFPB: FHFA’s big challenge is convincing the Supreme Court that it’s not the Consumer Finance Protection Bureau.
FAIR HOUSING ACT: The Housing and Urban Development administration is defying calls to withdraw controversial fair housing proposal to make it harder to bring discrimination claims under the Fair Housing Act.
MORTGAGE DELINQUENCIES: An indicator that presaged the housing crisis is flashing red again. Mortgage delinquencies are up, but does the surge in delinquency mean a second housing crisis looms with a wave of foreclosures?
HIGHER HOME LOAN DEMAND: Rock-bottom mortgage rates are cushioning banks from the economic downturn caused by the coronavirus pandemic.
FORBEARANCE ENDING: If your mortgage forbearance is ending soon, here’s how to take action to protect your credit and finances.
PREPARING FOR LOSSES: JPMorgan Chase & Co. set aside $10.47 billion to cover potential losses on loans to borrowers hurt by the coronavirus pandemic, cutting its second-quarter profit in half.
REDLINING: What is redlining and how can real estate leaders combat it.