Good Morning! Today is Wednesday, June 19th. Happy Juneteenth. California’s governor called for a ban on smartphone use in schools. Nvidia is now the world’s most valuable public company. Officials declared emergencies in northeastern states due to a heat wave.
The Mortgage Note Reports
Talking About Climate Change: The economic impact of climate change dominated the opening day of the National Association of Real Estate Editors conference.
Equity Lending: PrimeLending introduced a new home equity loan product that allows Americans to access the value stored in their homes.
Apps Up: Mortgage applications increased last week as average rates fell below 7%, but they cooled from the big gains seen the week prior.
Technology Podcast: Generative AI is revolutionizing every aspect of the mortgage industry. Hear from industry leaders about its impact on accuracy, efficiency, and enhanced customer service.
In other mortgage and housing news…
CFPB Crackdown: The CFPB took action against Freedom Mortgage for submitting erroneous data to regulators, and two reverse mortgage lenders for servicing failures.
CRE Watch: Commercial and multifamily mortgage debt increased in Q1 2024 as fewer loans than usual were paid off through property sales or refinancings.
Company News: St. Mary’s Bank made two leadership moves; HomeStreet is set to merge with FirstSun; ACI Sky integrated with Restb.ai.
Blend Leaders: Bryan Sullivan and Eric Woersching joined Blend’s Board of Directors.
“Toxic Environment”: A Chicago Tribune investigation accused Guaranteed Rate of verbal abuse and a “sex-driven” culture, giving credence to a former LO’s ongoing lawsuit.