Today’s News Synopsis:

No-Action letter issued by the CFPB to Upstart Network.  Mortgage rates continue to remain at their lowest for this year with 30-year rates at 3.78% and 15-year rates at 3.08%.  Following Amazon’s taking over certain stores such as Whole Foods, others are seeing this as an opportunity for real estate pricing.

In The News:

ATTOM Data Solutions – “U.S. Home Flipping Rate Plateaus in Q2 2017 as Average Flipping Returns Decline for Third Consecutive Quarter” (9-14-2017)

“ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q2 2017 U.S. Home Flipping Report, which shows that 53,638 single family homes and condos were flipped nationwide in the second quarter of 2017, a home flipping rate of 5.6 percent of all home sales during the quarter.”

Freddie Mac – “Mortgage Rates Hold at 2017 Low” (9-14-2017)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS^®), showing average mortgage rates remaining largely unchanged from last week’s year-to-date low.”

HousingWire – “Senate confirms Pam Patenaude as HUD deputy secretary” (9-14-2017)

“The Senate on Thursday voted to confirm Pam Patenaude to serve as the next deputy secretary of the Department of Housing and Urban Development.”

Realtor.com – “It’s a Jungle in There!  Why Houseplants Are Taking Over Our Homes” (9-14-2017)

“Plenty of (older) folks like to slam millennials as being lazy and narcissistic, but a new trend suggests that they actually do care about something more than themselves.”

Fannie Mae – “Fannie Mae Offers Relief Options for Homeowners and Servicers in Areas Impacted by Hurricanes Harvey and Irma” (9-14-2017)

“In an effort to ensure those who have been impacted by Hurricanes Harvey and Irma know what help is available and how to reach out for help, Fannie Mae (FNMA/OTC) is clarifying policy details and reminding homeowners to contact their servicer as soon as possible to access the resources and mortgage relief options being offered. Homeowners and renters affected by Hurricanes Harvey and Irma can find out what help is available, how to reach out for help, and how to access additional information and resources here.”

Mortgage Professional America – “Bright outlook for commercial real estate” (9-14-2017)

“Economic growth is set to reduce the commercial real estate vacancy rate to 11.9% over the coming year, the National Association of Realtors forecasts.”

Bloomberg – “Amazon’s Grocery Threat Could Be a Real Estate Opportunity” (9-14-2017)

“Patient real estate investors stand to gain from the fears of disruption such as the one that rattled the grocery industry after Amazon.com Inc.’s takeover of Whole Foods, according to MetLife Inc.”

CFPB – “CFPB Announces First No-Action Letter to Upstart Network” (9-14-2017)

“The Consumer Financial Protection Bureau (CFPB) today announced a no-action letter issued to Upstart Network, Inc., a company that uses alternative data in making credit and pricing decisions.”