Morning Roundup (1/10/2022)– UWM In-Office Fight Continues, Fraud Costs Rising

Good Morning! Today is Monday, January 10. A fire in a Bronx apartment building killed at least nineteen people. Russian forces have surrounded Ukraine on three sides as diplomats meet in Geneva for talks. “Power of the Dog” and “Succession” won top honors at the Golden Globes, which did not air this year due to criticism over ethical lapses and a lack of diversity. And in mortgage and housing news… Are UWM Workers Being Unreasonable?: United Wholesale Mortgage turned heads in the industry last week when it was reported that health officials are investigating the company after receiving complaints about how they are handling COVID, which lead some people to ask why employees in lending are expected to be in…

Morning Roundup (1/5/2022)– UWM Under Fire, Loan Applications Down

Good Morning! Today is Wednesday, January 5. A snowstorm in Virginia left hundreds of drivers stranded for more than 24 hours. Chicago canceled school today amid a clash with teachers about remote schooling during the Omicron surge. Walmart and Kroger are raising prices for BinaxNOW at-home Covid tests after a White House deal to sell them at cost expired. And in mortgage and housing news… UWM Under Fire: United Wholesale Mortgage is under scrutiny from both state and county health officials in the wake of complaints about the company’s handling of Covid. Loan Applications Down: Mortgage loan application volume dropped 2.7% from the week ending December 31, with refis down 2% as interest rates reached their highest point since April…

Morning Roundup (1/4/2022)– Americans Moving, Alanna McCargo Sworn In

Good Morning! Today is Tuesday, January 4. Apple became the first U.S. company to reach $3 trillion in market value. Chuck Schumer threatened to change Senate filibuster rules if Republicans did not allow a vote on voting rights measures. Elizabeth Holmes was found guilty on four counts of fraud related to her failed company, Theranos. And in mortgage and housing news… Bond Market Rally In 2022?: Could a drop in Chinese interest rates spark a bond rally in the US? Some companies think so. Americans On The Move: Vermont, South Dakota, South Carolina, and Florida were the top states to move to in 2021, with most movers saying they chose their new home based on proximity to family, according to…

Criticism Continues as UWM’s Ishbia Increases Commitment to MSU Athletes

By KIMBERLEY HAAS Mat Ishbia is helping to privately fund a new contract for the Michigan State University football coach, who was the punchline of many jokes on social media last weekend after his team lost to Ohio State in a blowout game. The Detroit News confirmed from a source close to negotiations last week that coach Mel Tucker and officials at Michigan State University were closing in on a new 10-year, $95 million contract that would make him one of the highest-paid coaches in college football. That agreement was made possible by financial commitments from Ishbia and Shift Digital CEO Steve St. Andre. After the embarrassing 56-7 loss to the Ohio State Buckeyes on Saturday, Sports Illustrated reported some Michigan…

Morning Roundup (11/22/2021)– Existing-Home Sales Up, Investors Sue Zillow

Good Morning! Today is Monday, November 11. Kyle Rittenhouse was acquitted on all charges. An SUV that drove into a Wisconsin holiday parade killed at least five people and wounded 40. Two Fox News contributors resigned in protest of a Tucker Carlson documentary featuring debunked conspiracy theories. And in mortgage and housing news… Existing Home Sales: Existing-home sales rose in October for the second month straight, though sales year-over-year are down 5.8%. Zillow Lawsuit: Investors are suing Zillow, saying they made misleading statements about the financial security of Zillow Offers. The law firm helming the claim has put out a call for investors who lost big to join in. Auctions This Week: The Treasury Department is holding auctions for two-,…

Morning Roundup (11/10/2021)– Mortgage Credit Remains Tight, Application Volume Up

Good Morning! Today is Wednesday, November 10. Moderna is locked in a patent dispute after excluding three government researchers who worked on the vaccine from its application. General Electric will split into three companies focused on aviation, energy, and healthcare. A federal court denied Donald Trump’s attempt to withhold records from the committee investigating the January 6 riot. And in mortgage and housing news… HUD Awards $36M For Affordable Housing: HUD announced $36 million in “capacity-building” grants to boost affordable housing programs across 250 communities. Mortgage Credit Up: Mortgage credit availability rose slightly in October but remains tight overall, posing “significant” problems for first-time buyers. Applications Rise Alongside Rate Drop: Mortgage loan application volume rose 5.5% last week, responding to…

Morning Roundup (11/1/2021)– Rocket Partners With Salesforce, New Construction Prices Out Most Americans

Good Morning! Today is Monday, November 1. World leaders are gathering in Glasgow for a climate summit. American Airlines scrubbed more than 1,900 flights over the weekend, the latest in a series of cancellations to disrupt travelers’ plans. White House Press Secretary Jen Psaki tested positive for Covid-19. And in mortgage and housing news… Rocket Mortgage Partners With Salesforce: Rocket Mortgage announced a new partnership with Salesforce in a bid to expand its market share. 60% Of Households Priced Out Of New Construction: Prices for newly-constructed homes outpaced median income, pricing out most Americans, according to a study from real estate tech firm Knock. Haunting History: Halloween may be over, but it’s never a bad time to find out how many …

Morning Roundup (10/20/2021)– Applications, Refis Tank

Good Morning! Today is Wednesday, October 20. The White House announced a plan to vaccinate 28 million children between the ages of 5 and 11. Kidnappers in Haiti are demanding $1 million per person for 17 members of a U.S.-based missionary group. Southwest Airlines has dropped its plan to put unvaccinated workers on unpaid leave starting in December. And in mortgage and housing news… Applications Down: Mortgage loan application volume fell 6.3% last week while refis hit their lowest level since July. Rocket Enhancements: Rocket Mortgage’s Rocket Pro TPO announced tech changes to help brokers grow and strengthen their businesses. Ex-UWM Exec Joins Scott Griffin: Scott Griffin Financial has announced that former UWM exec Judie Levitt has joined its senior…

Scott Griffin Financial Taps UWM’s Levitt for CGO Spot

Former United Wholesale Mortgage (UWM) executive Judie Levitt joined Scott Griffin Financial as chief growth officer, the company announced in a statement.  Chief growth officer is a new position at Scott Griffin. In that role, Levitt will focus on expanding the company into new markets. “We are very excited to have Judie join our team at Scott Griffin,” said Aliza Falk, chief operating officer.” “With our founder Scott Griffin hosting a national show on CNBC, it made sense to expand the mortgage division to the national spotlight, and Judie has a proven track record of recruiting the perfect talent for growth. We are so thrilled to bring on such a talented and passionate industry leader.” Levitt worked at UWM for…

Morning Roundup (10/15/2021)– Forbearances Still Falling, UWM Backpedals On Crypto

Good Morning! Today is Friday, October 15. An FDA panel recommended booster shots for high-risk Moderna recipients. LinkedIn is shutting down in China, the last major social network to shutter there. Retail sales rose a seasonally adjusted 0.7% in September from the month before, the U.S. Commerce Department said. And in mortgage and housing news…  Black Knight: Forbearances dropped another 10% this week, and they are now at their fastest rate of improvement since the pandemic began. Was Ishbia’s Crypto Move a ‘Stunt?’: After accepting just six cryptocurrency mortgage payments, UWM has signaled it’s not ready to do more. Millennials Vs. Boomers: A Zillow report found Millennials and Boomers are competing for housing, and Boomers are winning. Redfin: The number…