Good morning! Today is Tuesday, June 16. The Supreme Court ruled that LGBTQ workers are protected under federal civil rights law. Harvard won’t require SAT and ACT test scores for admission next year. Walmart is testing a store that will offer only self-checkout to protect against coronavirus spread. And in mortgage and housing news … FORBEARANCE NUMBERS: The percentage of Fannie Mae and Freddie Mac loans in forbearancedecreased for the first time since the start of the COVID-19 pandemic, according to the weekly forbearance survey released by the Mortgage Bankers Association. FHFA ELIGIBILITY: The Federal Housing Finance Agency announced that it will not implement new financial eligibility requirements for mortgage lenders that service or sell loans to Fannie Mae and Freddie Mac. HOUSING RECOVERY: In an…
Good morning! Today is Monday, June 15. New York Gov. Cuomo threatens to reverse reopening parts of the Hamptons and Manhattan after coronavirus social distancing violations. Florida sees its highest number of coronavirus cases. Elon Musk says he is a year away from creating a “Bionic Man” using implanted chips. And in mortgage and housing news … REDLINING LEGACY: More than 50 years after redlining was outlawed, the practice still has a profound impact on the wealth and property values in neighborhoods across the country, according to a report released by Redfin. FRONT GROUP? The Association of Independent Mortgage Experts (AIME) promotes itself as a membership organization , but does it really have the best interests of independent brokers in mind? Or, is it just a…
Good morning! Today is Friday, June 12. Businesses ranging from tech titans Apple and Google to toy maker Hasbro announced new measures and investments to promote racial justice. Twitter took down China-linked accounts spreading disinformation about the coronavirus. And in mortgage and housing news … STAYING AT 0: Federal Reserve Chairman Jerome Powell said the Fed is committed to “using our full range of tools to support the economy and to help assure that the recovery from this difficult period will be as robust as possible.” FHFA EXTENSION: The Federal Housing Finance Agency announced it is extending the loan origination flexibilities currently offered by Fannie Mae and Freddie Mac designed to help borrowers during the COVID-19 national emergency. RATES HOVER: Mortgage rates hovered near record lows again this…
Good morning! Today is Thursday, June 11. Amazon says it will pause police use of its facial recognition technology for a year. NASCAR will ban display of Confederate flag at all events and properties. Disney will reopen the original Disneyland in Anaheim, Calif. on July 17, the 65th anniversary of the park’s opening. And in mortgage and housing news … 0 PERCENT: The Federal Reserve kept interest rates effectively at 0 percent and vowed to increase holdings in Treasury securities and mortgage-backed securities to support the economy during the coronavirus pandemic. MORTGAGE APPS: Mortgage applications for home purchases increased for the eighth straight week as the housing market continues to take steps forward from the depths of the coronavirus pandemic. FHFA CALABRIA ENCOURAGED: Federal Housing Finance Agency…
Good morning! Today is Wednesday, June 10. Three companies will start pivotal coronavirus vaccine testing in July. Nineteen states are seeing a spike in coronavirus cases. The rise of home workouts has led to a kettlebell shortage throughout the nation. And in mortgage and housing news … FHFA FIX: FHFA Director Mark Calabria told Congress he will submit legislative recommendations next week to strengthen the agency’s regulatory and supervisory authority “to fix structural flaws in our housing finance system.” CFPB COMPLAINTS: For the second straight month, Shellpoint Partners racked up the highest number of mortgage-related consumer complaints to the Consumer Financial Protection Bureau, according to publicly available data on the federal agency’s website. MORTGAGE CREDIT: Mortgage credit keeps getting tighter, but the decrease in credit availability leveled off in…
Good morning! Today is Tuesday, June 9. New York City, once the U.S. epicenter of the coronavirus, begins to reopen this week. IBM will no longer offer general purpose facial recognition and analysis software products over concerns about human rights. The Federal Reserve’s rate-setting committee meeting today is expected to keep rates near zero and issue no major policy decisions. And in mortgage and housing news … INDICTMENT: The former president of First Mortgage Company of Oklahoma City was indicted by a federal grand jury for bank fraud and money laundering as part of a scheme to defraud banks and pay for lavish homes for himself and his family, prosecutors announced. GINNIE MAE: Ginnie Mae announced that its total outstanding principal balance in May was…
Good morning! Today is Monday, June 8. Now that SpaceX has successfully launched NASA astronauts into space, Elon Musk is moving to develop a large capacity Starship rocket. While most regions are seeing a drop in COVID-19 cases, California, Florida and a few others are seeing increases. And in mortgage and housing news … MORTGAGE RATE CLIMBS: Freddie Mac’s Primary Mortgage Market Survey found that the 30-year fixed-rate mortgage increased to 3.18 percent this week. APPEALS COURT JUDGMENT The 4th Court of Appeals in San Antonio reversed a trial court’s judgment on real estate analytic firm HouseCanary Inc.’s fraud and misappropriation of trade secret claims against Amrock Inc., a Detroit home appraisal company affiliated with Quicken Loans Inc. Amrock formerly was known as Title Source…
Good morning! Today is Friday, June 5. Las Vegas casinos are reopening with COVID-19 safety measures like sinks next to slot machines. News cameras captured video of a powerful lightning strike of the Washington Monument. A Strawberry Moon will glow all weekend with a partial eclipse today. And in mortgage and housing news … LOOKING UP: Realtor.com’s May Monthly Housing Trends report found that the market likely reached its low point in mid-April – with signs of recovery beginning late in the month followed by a stronger May. INDEPENDENT MORTGAGE BANKS: Independent mortgage banks reported strong results on loans in the first quarter of the year even in the face of a reduction in volume as the coronavirus pandemic took hold in March, the Mortgage Bankers…
Good morning! Today is Thursday, June 4. The White House selected five companies as the most likely candidates to produce a vaccine for the coronavirus. Delta Airlines will cap seating at 50 percent in first class and 60 percent in other cabins. Weekly jobless claims numbers to be announced this morning are expected to be below two million. And in mortgage and housing news … STILL RISING: Mortgage applications for new home purchases increased by 5 percent for the week ending May 29 – the seventh straight week purchase applications have increased, according to a Mortgage Bankers Association report. REFINANCING: If home values drop, consumers could pay more to refinance their mortgages. MORTGAGE AND RENT RELIEF: A guide to COVID-19 mortgage and rent relief in every state. WALL STREET…
Good morning! Today is Wednesday, June 3. After the successful SpaceX launch, a new suite of vehicles could be regularly flying people to the International Space Station. Major League Baseball players and owners continue to debate terms of a new season. And in mortgage and housing news … NEW CFO: Christian M. Lown will be the new chief financial officer and executive vice president of Freddie Mac as the company seeks to emerge from conservatorship. HOME PRICES: Home prices spiked nationwide in April, and all 50 states saw price increases, but a new report also says prices are likely to fall into next year. EVEN LOWER RATES: Federal Reserve Chairman Jerome Powell has been out there again sounding the alarm about the potential for further damage to…
