Supreme Court blocks Trump from removing Fed governor Lisa Cook

☀️ Good morning and happy Monday. Let’s get into what we’ve got for you today.

1. MidWest America FCU adopts AI-powered lending platform

MidWest America Federal Credit Union has selected Algebrik AI’s lending platform, Algebrik One, to combine borrower applications, loan origination, automated decisioning, and portfolio analytics into a single workflow.

The credit union says the move aims to reduce manual processes, eliminate system handoffs, and create a faster, more consistent lending experience for members and loan officers.

The adoption comes as credit unions increasingly turn to AI-powered solutions to improve efficiency, reduce operational costs, and modernize lending experiences without adding complexity.

📰 Related news: Michigan First Credit Union chooses Scienaptic AI to unlock smarter lending. (BusinessWire)

2. 19% of house hunters are looking to relocate

Roughly one in five (19.1%) house hunters looked to move to a different part of the country in Q1, up slightly from 18.9% a year earlier and the highest share since records began in 2021, according to a Redfin report.

Florida, Las Vegas, and Phoenix are the most popular destinations, with many movers seeking affordability and warmer weather. Meanwhile, New York, Seattle, and Los Angeles are among the top metros people are leaving as buyers look for lower-cost markets.

3. More Nuggets

⚖️ Supreme Court blocks Trump from removing Fed governor Lisa Cook. (Reuters)

🏡 Pending sales grew in every part of the country. (HousingWire)

💪 Housing markets where homebuyers have gained the most power. (ResiClub)

🔑 States with the highest share of homes underwater. (Attom)

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4. VA updates appraisal rules, adjusts fees in some regions

The Department of Veterans Affairs (VA) has updated several home loan appraisal requirements, removing and revising certain Minimum Property Requirements (MPRs), the agency announced Thursday.

The changes are now in effect and reflected in the revised VA Lenders Handbook. The agency said the updates are intended to “reduce delays, cut outdated rules and help Veteran homebuyers move faster in a competitive housing market.”

VA is also adjusting appraisal fees in select regions to remain competitive and maintain a pool of experienced appraisers.

5. Compass sued by homebuyers over $475 transaction fee

Compass Florida is facing a proposed class action lawsuit in Palm Beach County over a $475 transaction fee allegedly charged to homebuyers at closing.

The lawsuit, filed by Jeff and Melissa Efron, accuses Compass of unfair and deceptive business practices, claiming the brokerage added an undisclosed flat fee to buyer contracts. The Efrons say they were told their agent’s compensation would come from seller-paid commissions but were later charged the additional fee.

The case alleges Compass improperly added the fee through contract modifications and seeks damages, refunds for affected buyers, and other legal remedies. The lawsuit could potentially include other Florida buyers who paid similar Compass transaction fees.

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

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