Mortgage Roundup (2/5/21) – Values, Rates & Shock

Good morning! Today is Friday, February 5. A potential third vaccine made by J&J that only requires one shot could become available in the U.S. within weeks. Members of the House Homeland Security Committee, which is investigating the Jan. 6 Capitol riot and domestic terrorism, urged tougher penalties and holding social media companies accountable. United and American Airlines said tens of thousands of workers again could face furloughs as demand for air travel continues to lag. And in mortgage and housing news … HOME VALUES: Home values in the United States exploded during the last year, as interest rates and home inventories both hit record lows. Are they sustainable?   MORTGAGE RATES: Mortgage rates didn’t budge this week – and that’s good news for borrowers. STICKER…

Mortgage Roundup (2/4/21) – UWM, Rent & JPM

Good morning! Today is Thursday, February 4. President Biden signaled openness to sending $1,400 payments to a smaller group of Americans in the next round of coronavirus relief legislation. A British clinical trial will test combining Pfizer and AstraZeneca vaccines. Hundreds of San Francisco homeowners fell for a prank and applied for “Blue Check” verified homes.  And in mortgage and housing news … UWM EARNINGS: United Wholesale Mortgage’s parent company announced financial results for the first time since going public last month, reporting large increases for the quarter and 2020 over the year before.  MORTGAGE APPS: Mortgage applications in the United States surged 8.1 percent the last week of January from a week earlier, according to a report released by the Mortgage Bankers Association. PAST…

Mortgage Roundup (2/3/21) – Climate, Suburbs & Spies

Good morning! Today is Wednesday, February 3. Amazon CEO Jeff Bezos steps down. Andy Jassy, who has run the company’s cloud computing business, will take the reins. The US Senate took a tentative step Tuesday towards pushing through a massive economic aid package proposed by President Joe Biden, but bipartisanship was absent. And in mortgage and housing news … NEW LAWYER: The Federal Housing Finance Agency is getting a new general counsel for the first time since its creation. BORROWERS MISLED: Some mortgage companies misled borrowers about forbearance, regulators say. CLIMATE EFFECTS: Nearly three-quarters of Americans who bought or sold a home in 2019 say that an increase in the frequency and intensity of natural disasters is “somewhat” a factor in their decision to buy or sell, according to…

Mortgage Roundup (2/2/21) – Sales, Loans & Super Bowl

Happy Groundhog Day! Today is Tuesday, February 2. The U.S. is expressing grave concern over reports of a military coup in Burma and “will take action.” The Transportation Security Administration is authorized to fine passengers who fail to comply with the new mask requirements on public transportation systems. SpaceX announced its first mission to space with an all-civilian crew. And in mortgage and housing news … FLYING OFF SHELVES: More than half of homes that went on the market in the United States earlier this month had an offer within the first two weeks, according to a new report released by Redfin. FORBEARANCE REPORT: The number of mortgages in forbearance in the United States remains stubbornly at 2.7 million, where it has largely sat for…

Mortgage Roundup (2/1/21) – Sellers, Malls & Volume

Good morning! Today is Monday, February 1. Winter Storm Orlena is pummeling the East Coast with heavy snow and strong winds. The job of vaccinating much of the American public is about to fall largely on retail pharmacies, with chains like CVS, Walgreens, Walmart and Kroger saying they are ready to give tens of millions of shots a month. Chicago teachers are threatening a strike over reopening schools to in-person learning. And in mortgage and housing news … NEW ADMINISTRATION: The Biden administration is bringing a new focus on housing policies. YEAR OF THE SELLER: Why 2021 is the year to sell your home. BIDEN/HARRIS REAL ESTATE: The president and vice president both maintain multiple homes throughout the country—but not as many as you might think. SIGHT-UNSEEN…

Mortgage Roundup (1/29/21) – Biden, Rates & Rules

Good morning! Today is Friday, January 29. General Motors announced it will sell only zero-emissions vehicles by 2035. The New York Attorney General says the state’s nursing home deaths were undercounted by 50 percent. A faster-spreading South African variant of the coronavirus was detected in the U.S.  And in mortgage and housing news … BIDEN IMPACT: The burning question for lenders in 2021 is: How will President Biden, who’s been around this block before, respond to today’s complex housing market that has been propped up by forbearance and historically low interest rates? DOWNPAYMENT OPTIONS: There may be an upside for the young adults who were forced to move back home with their parents during the pandemic. MORTGAGE RATES: Mortgage rates fell for the second consecutive week, inching closer…

Mortgage Roundup (1/28/21) – Brokers, HOAs & Freddie

Good morning! Today is Thursday, January 28. Internet-fueled amateurs are gathering on platforms like Reddit, Discord, Facebook and Twitter to create a Wall Street power shift and it’s working. The Department of Homeland Security warned that violent domestic extremists could attack in the coming weeks, emboldened by the Jan. 6 riot at the U.S. Capitol. Apple is urging iPhone and iPad users to update their devices to fix security flaws that might have been “actively exploited” by hackers. And in mortgage and housing news … ROCKET DIRECTORY: Rocket Mortgage announced a new national broker directory on its website – allowing homebuyers and homeowners seeking to refinance to find local independent mortgage brokers to guide them through the process. MORTGAGE APPS: Mortgage applications tumbled 4.1 percent for…

Mortgage Roundup (1/27/21) – Prices, CFPB & Markets

Good morning! Today is Wednesday, January 27. A second impeachment trial will proceed on Feb. 9, but there are not enough votes to convict former president Donald Trump over his role in the Jan. 6 mob attack on the Capitol. Walmart will fill online orders with robots in some stores. New Army rules will allow ponytails and nail color for female soldiers.  And in mortgage and housing news …   HOUSING PRICES: The Federal Housing Finance Agency’s Home Price Index showed prices were up 1 percent in November for the month – and a whopping 11 percent from November 2019 to November 2020. MLB LOANDEPOT: Major League Baseball has made loanDepot the “official mortgage provider” of MLB under a multi-year partnership announced this week. CFPB PICK: Financial firms…

Mortgage Roundup (1/26/21) – Value, Rates & Closures

Good morning! Today is Tuesday, January 26. Former Federal Reserve Chair Janet Yellen was confirmed by the Senate to serve as first woman Treasury Secretary. Vaccines by Moderna and Pfizer-BioNTech are slightly less effective against a variant found in South Africa. A judge has approved a $17 million settlement plan for sexual misconduct victims of Harvey Weinstein. And in mortgage and housing news …   HOME VALUES: Fueled by record-low interest rates and scarce inventory, home value growth surged in December by 3.2 percent over the previous quarter – the largest increase in at least a quarter century. FORBEARANCE REPORT: The number of mortgages in forbearance in the United States held steady at about 2.7 million. MORTGAGE CRITERIA: Qualifying for a mortgage in 2021 may be a different process…

Mortgage Roundup (1/25/21) – UWM, CRA & Wall Street

Good morning! Today is Monday, January 25. California Gov. Newsom is expected to cancel stay-at-home orders in large parts of the Golden State to allow restaurants and gyms to reopen outdoor dining and services. The U.S. imposed a ban on travelers entering the country from South Africa in a bid to contain the spread of a new variant of Cpvod-19. The stage is being set for the 2021 Superbowl – the Tampa Bay Buccaneers will face the Kansas City Chiefs. And in mortgage and housing news … UWM NYSE: United Wholesale Mortgage Company’s first day on the New York Stock Exchange ended with a dip.  CRA EXPANSION: With Democrats in power, will CRA be expanded to nonbanks? HOUSING CRISIS: President Joe Biden is no stranger to…