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1. Bilt raises $250M to enter mortgage market, backed by UWM

Bilt, the rent rewards and loyalty platform, has raised $250 million in a funding round led by General Catalyst and GID, with UWM investing $100 million.

As part of its move into mortgages, Bilt will partner directly with loan servicers to integrate its rewards platform into the mortgage process. UWM CEO Mat Ishbia said the partnership will help brokers by offering a better servicing experience and using Bilt’s rewards system to drive customer loyalty and generate new mortgage leads.

The deal boosts Bilt’s valuation to $10.75 billion and marks its expansion into mortgages, condo HOAs, and student housing. Bilt expects to exceed $1B in revenue in Q1 2026 and process over $100 billion in housing-related spending by year’s end.

2. HUD halts foreclosures in Texas flood zone

In response to catastrophic flooding in Texas Hill Country, HUD has imposed a 90-day foreclosure moratorium on over 900 FHA-insured mortgages in Kerr County, the area hardest hit.

• At least 110 people are confirmed dead and 161 remain missing, with 87 fatalities in Kerr County alone. President Trump declared a major disaster in the region, triggering federal aid.

The moratorium covers both forward mortgages and HECMs, and HUD is working with servicers to support affected homeowners. FHA assistance programs are also available for property repair and replacement.

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3. More Nuggets

🏡 Broker taps Twitch streamer Kai Cenat to market $17M Texas estate. (TheRealDeal)

🤝 Compass acquires Denver-based PorchLight Real Estate Group. (MileHigh CRE)

💼 White House accuses Powell of mismanaging the Fed, citing renovation. (theHill)

⚖️ Judge denies Appraisal Institute’s motion to dismiss wrongful termination suit. (HW)

4. Housing sentiment drops despite slight boost in buying outlook

Fannie Mae’s Sentiment Index declined by 3.7 points to 69.8 in June, reflecting increased consumer pessimism about the housing market. Affordability remains a central concern as fewer respondents expect mortgage rates to fall, and only 16% report higher household income compared to last year.

Despite these challenges, buying sentiment improved slightly. 28 percent of consumers said it is a good time to buy, up from 26 percent in May and significantly higher than a year ago.

Still, 45 percent expect home prices to rise over the next 12 months, with projected gains of 2.1 percent for home values and 5.7 percent for rents. Overall, affordability pressure and economic anxiety continue to weigh heavily on housing confidence.

5. Trump administration ends appraisal bias task force

The Trump administration has officially ended the core policies of the Biden-era Property Appraisal and Valuation Equity (PAVE) task force. The website was taken down earlier this year, and it remains unclear if any part of PAVE is still operational.

The rollback eliminates rules requiring appraisers and lenders to comply with anti-discrimination laws and to document or correct potential bias in valuations.

HUD Secretary Scott Turner said the move aligns with President Trump’s executive order to dismantle diversity, equity, and inclusion (DEI) regulations. Turner argued the rules had increased costs and limited access to homeownership.

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

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