In the News: The Mortgage Note
Morning Roundup (8/3/23) – Americans Under Pressure
Written by The Mortgage Note
Good Morning! Today is Thursday, August 3. Donald Trump is expected to appear at a federal courthouse in Washington, DC this afternoon. Prime Minister Justin Trudeau of Canada and his wife are separating. Three former dancers have accused Lizzo of creating a hostile work environment.
The Mortgage Note Reports
Under Pressure: The average American spends $25,000 a year on their monthly bills, but costs vary hugely by state, putting strain on homeowners suffering under inflation.
New Lender Portal: Mortgage tech company ReadyPrice launched an independent universal delivery portal combining its PPE with the industry’s largest LOS.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.
In other mortgage and housing news…
Monthly Trends: Active listings growth slowed for the fourth month in a row in July and fell below year-ago levels (-6.4%) for the first time since April 2022.
Opinion: Jason Mitchell argues that Wall Street owning so many single-family homes harms Americans because they have no intention of ever selling.
wemlo Upgrade: Fintech wemlo expanded its third-party mortgage loan processing services with the addition of new loan products and lender partners.
Shining Light: Rental listing inventory is up 70% YOY and days on market is up 50% YOY as median monthly rent prices have seemingly reached a peak.
First-Year Money Sink: The first year of homeownership comes with a staggering price point, so Point2 ranked the cheapest metros for upfront and recurring costs.
wemlo℠ NMLS #1853218, is a technology-focused mortgage loan processing startup that is reshaping the mortgage broker channel. It developed the first service for mortgage brokers, combining third-party loan processing with an all-in-one digital platform. Its product is marketed and sold to mortgage brokerages and loan originators across the country. Wemlo is a subsidiary of RE/MAX Holdings, which includes RE/MAX®, one of the world’s leading franchisors of real estate brokerage services, and Motto Mortgage®, the first national mortgage brokerage franchise brand in the U.S.
PR & Communications Manager, wemlo