Newlyweds prefer homebuying help over gifts

🌅 Good morning, Monday! Today’s newsletter is 798 words, a 3.5-minute read.

1. Compass sues NWMLS over ‘anticompetitive’ rules

Compass has filed a federal lawsuit against the Northwest Multiple Listing Service (NWMLS), accusing it of monopolistic and anticompetitive practices.

• The dispute centers on NWMLS rules that require homes to be listed immediately on the MLS, which Compass argues restricts its ability to offer “Private Exclusives” - listings marketed privately to select buyers before going public.

NWMLS briefly blocked Compass’s access to its listings but later reversed the decision, though the immediate-listing rule remains in place.

The lawsuit highlights growing tensions over pocket listings, with major players like Zillow and Redfin opposing private marketing strategies in the name of fairness and transparency, while Compass defends seller choice and flexibility.

2. Newlyweds prefer homebuying help over gifts

For many couples tying the knot, “something borrowed” may be a home loan, and guests may play a big role in reducing the amount they need to take out.

Among homeowners married in the past two years who made a down payment, 48% requested money to help pay for their down payment rather than wedding gifts. That figure is especially high among men (57%), those with children younger than 18 (53%) and those married in the past six months (53%).

It’s not just the guests chipping in. Across all newlywed homeowners, 71% received help from parents to pay for their wedding and/or down payment, with many (37%) saying their parents helped with both.

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3. More Nuggets

💰 California overtakes Japan and is now the world’s 4th-largest economy. (Gov)

📊 The nation’s largest mortgage lenders are only getting bigger. (HousingWire)

📉 Consumer sentiment plunges 8%. (CNN)

📰 Mr. Cooper shrinks originations but strengthens borrower retention. (NMP)

4. Markets where home prices are falling the fastest

Nationwide, home prices rose 2.1% year over year, the slowest growth rate since July 2023, according to Redfin. During the four weeks ending April 20th, the median home-sale price declined year-over-year in 11 of the 50 largest U.S. metro areas. The last time that many markets saw annual price declines was in September 2023.

Here are the top five metros with the largest year-over-year price increases and decreases:

5. ESG team at Fannie Mae terminated: sources

Fannie Mae has reportedly dismissed its entire environmental, social, and governance (ESG) team, including senior vice president Laurel Davis, according to multiple sources who spoke with HousingWire.

Sources said more than 30 staffers were affected by the cuts, which took place on Friday, with some placed on administrative leave. The ESG team was part of Fannie Mae’s broader Mission Team but was not a charter-mandated program.

The move comes amid broader rollbacks of diversity, equity, inclusion (DEI), and climate-related initiatives under FHFA Director Bill Pulte, though it is unclear if Pulte was directly involved in the ESG team’s dismissal. Similar leadership changes have occurred at Freddie Mac, including the recent departure of Danny Gardner, SVP of Mission and Community Engagement.

☀️ You’re all caught up. See you on Wednesday!

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