Monday Morning Cup of Coffee: Home price and wage divergence raise alarms

Monday Morning Cup of Coffee: Home price and wage divergence raise alarms

Plus the endgame for two billion-dollar R&W settlements?

The 15 hottest markets for homebuyers and sellers this spring

California dominates list

Changes in FHA multifamily lending requirements squeeze lenders, owners

Pressure trickles down into rent increases in affordable units
W S

The Ticker

'Drug-induced orgy' destroys family's Airbnb rental home

Disturbing video of damage
Brena Swanson
One couple faces one of the worst scenarios after renting their home to strangers on Airbnb. What was meant to be four people soon multiplied as the house descended into a massively destructive orgy. The damage is extensive.
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Phoenix bans plywood for vacant REOs

Transparent plastic covers are now required
Brena Swanson
Phoenix residents and government officials decided to take a stand against blight in the city, passing a first-of-its-kind city ordinance. Plywood is out. SecureView is in.
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Court debates lifting time limitations on mortgage bond lawsuits

When does the clock start?
Brena Swanson
While investors who say they were duped into buying flawed mortgages have six years to sue, the court is currently trying to figure out when exactly the clock starts on the six years.
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Six housing agencies issue final rule for AMCs

Finalize minimum requirements
Brena Swanson
Housing authorities announced new minimum requirements for state registration and supervision of appraisal management companies. With the new rule, states may elect to register and supervise AMCs, but there are catches.
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Mortgage Bankers Association adds 11 new members in March

Here are the new members
Ben Lane
The Mortgage Bankers Association announced that it welcomed 11 new members into its ranks in the month of March. The additions continue the organization’s growth, as the MBA also added 31 new members in January and 16 members in February.
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HarborOne Bank acquires Merrimack Mortgage Company

Expands presence in New England
Brena Swanson
HarborOne Bank will acquire Merrimack Mortgage Company, assuring that the mortgage business will continue to be a significant component of its long-term strategy.
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$1.18 billion in Fannie, Freddie MSRs hit market

MountainView marketing two GSE pools
Ben Lane
Mortgage servicers hoping to get their hands on the servicing rights for loans owned by Freddie Mac and Fannie Mae have that chance, according to MountainView Servicing Group, which is acting as advisor in the sale of two separate sales of agency mortgage servicing rights.
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Redfin: Sara Stevens’ new take on homeownership

With homeownership at a new low, Redfin digs deeper on what’s happening
Trey Garrison
A year ago Lorraine Woellert was a reporter for Bloomberg, where she told the story of Sara Stevens, daughter of a guy who knows a little about homeownership and mortgages. Now that Woellert is at Redfin, she revisited the issue and the daughter to look at what's really happening in housing.
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How to read a potential homebuyer's mind

Chart shows how relationships play into the decision
Brena Swanson
Chase just released a new survey with insights into what goes on in a potential homebuyer’s mind when making the decision to buy a new home. As an added bonus, it shows how intensely relationships play into housing choices.
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Cornerstone Home Lending surrenders Georgia mortgage license

Fined $33,500
Brena Swanson
Cornerstone Home Lending voluntarily surrendered its mortgage lender license in Georgia for violating the Georgia Residential Mortgage Act.
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