- Mortgage Nuggets
- Posts
- Judge dismisses UWM ultimatum case
Judge dismisses UWM ultimatum case
Plus: Metros with the biggest savings since the rate cut
😊 Greetings this Wednesday. Today's newsletter is 632 words — a 2.5-minute read.
Disclaimer: Average mortgage rates as of Sep 24, 2024. © MND Daily Rate Index.
1. Metros with the biggest savings since the rate cut
The recent rate cut by the Fed has dramatically improved the purchasing power of home buyers across the country. Based on its analysis, Realtor’Com determined that homebuyers are saving a nationwide average of $363 per month, or $4,356 per year, compared to when rates peaked in October 2023.
The amount of savings varies widely across markets. Here are the top 10 cities that have seen the biggest savings on monthly mortgage payments:
|
|
2. Judge dismisses UWM ultimatum case
A Florida federal court has dismissed a 2021 antitrust case alleging UWM and its chief executive officer, Mat Ishbia, conspired with brokers to mount a group boycott of Rocket Mortgage and Fairway Independent Mortgage.
Florida-based Okavage Group sued UWM back in 2021 shortly after the lender announced its "All In" initiative.
UWM and Ishbia still face charges of racketeering, RESPA violations, and unjust enrichment, filed in an April 2024 class action lawsuit. Those allegations stem from a report detailing the wholesale lenders' relationships with brokerages and brokers, published by the hedge-funded media company, Hunterbrook Media.
🚨 New Integration: Aidium + Canva
Aidium now integrates with the industry-leading design platform, Canva!
With Aidium + Canva you can craft all your content in one place. Easily create, brand, and pull your marketing materials directly into your Aidium communications.
Look forward to:
Generative AI: AI tools to help you at every step of the design process.
Brand Management: Easy mortgage marketing and enterprise design management.
Video Creator: Create on-brand and personalized videos in a snap.
Data Autofill: Pull your CRM data directly into Canva to craft personalized content at scale.
Aidium Design Templates: Choose from Aidium's library of ready-to-use templates.
Canva does more when paired with Aidium. See what the hype is all about!
3. More Nuggets
⚖️ NAR rival AREA launches petition to end Clear Cooperation Policy. (Change.Org)
💸 You can’t always refinance a mortgage to capitalize on lower rates: Here’s when a lender may say ‘no’. (CNBC)
🏘️ The purest form of homeownership. (Axios)
📈 Built-to-rent communities are a growing trend amid sky-high housing costs. (CBS)
🧑⚖️ Ex-employee sues CrossCountry Mortgage over age discrimination accusations. (HousingWire)
💻 ICE updates system to automate credit disputes. (NMP)
5. September consumer confidence falls the most in three years
Consumers’ view on the economy tumbled in September, falling by the largest level in more than three years as fears grew about jobs and business conditions, the Conference Board reported yesterday.
The board’s consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021.
“Consumers’ assessments of current business conditions turned negative while views of the current labor market situation softened further. Consumers were also more pessimistic about future labor market conditions and less positive about future business conditions and future income”
6. 1 funny tweet
The only time we appreciate time
— Imran Bard (@imemerang)
7:00 AM • Sep 22, 2024
☀️ You’re all caught up. See you on Friday!
🚀 Wanna help our newsletter grow? Forward it to a friend or colleague.
Would you like to receive a ready-to-send weekly marketing email for your realtors and/or clients? Start your 30-day free trial here.
Was this email forwarded to you? Subscribe here.
Interested in advertising to 40k+ loan officers? Get in touch.