HousingWire Daily

Today’s HousingWire Daily features a crossover episode from HousingWire’s Girlfunds. In this episode, LA-based Real Estate Agent Xio Sandoval discusses how she is helping her clients lock in a home in today’s competitive market, along with some creative financial ways she has helped people buy a home, such as renting out the basement. Here is a small preview of today’s interview with Sandoval. The transcript below has been lightly edited for length and clarity: Sarah Wheeler: You know, we did want to ask you one question about market competition. Currently, Brena Nath is in the process of buying a house and I just bought a second house. I know you value creating long term relationships with clients, but in today's fast paced market, how are you helping them lock in their dream home? Xio Sandoval: I have a couple of buyers right now that are just being rejected and we're submitting very aggressive offers. So, I just make sure they understand and remind them they have to be patient. I'm here for them. I don't care if I show them two houses, 20 houses or 30 houses, we're going to get in and I'm not giving up on them. Right now, a house I’m working on is paying two and a half commission to the MLS agent. I'm giving up 0.5% or 0.75% back to the seller as a credit, so they can consider my buyers offer because I rather work in volume than make money in one deal. This means that buyer is going to stay with me. In fact, right now I'm selling houses to the children of former clients from 10-15 years ago, which is unreal. The market is crazy but that will eventually slow and that’s why maintaining your relationships is important. If the agents know that you are like minded, they will eventually want to work with you. HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

In today's HousingWire Daily episode HW+ Managing Editor Brena Nath joins HousingWire Editor in Chief Sarah Wheeler to discuss the biggest topics coming across the HousingWire news desk. Nath and Wheeler review the recent announcement of approval for another round of stimulus checks and examine how this could impact the housing market. The pair also discuss why three brokers are gearing up for a potential battle in court with United Wholesale Mortgage and highlight what economists say is ahead in 2021. For more background on what is discussed, here is a preview of today's interview. The transcript below has been lightly edited for length: HousingWire: What is something that we should all be watching right now regarding the news? Sarah Wheeler: I think the biggest news over the weekend was the stimulus bill going through. There was a lot of hand-wringing over the last month as many wondered the eventual shape of the bill. However, they did get it done, and we now have a stimulus bill. I think many people have focused on the $600 coming through to American households, which is certainly a big part of it, and that's just a stimulus check. But for our audience, we really want to examine the impact on homeowners or renters looking to become homeowners, which is what we're doing a deep dive on today. Jonathan Reckford, CEO of Habitat for Humanity, wrote an op-ed piece for HousingWire last week discussing what he hoped the stimulus bill would include. One of the interesting things in his take on that was that he felt like there should be money for low-income homeowners. There have been quite a few things for unemployed renters but not so much for homeowners based on how much money they make, yet that could greatly impact our industry. I don't see that in this particular stimulus bill, but we haven't dug into it all the way yet. The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: How the latest stimulus impacts renters and homeowners Three brokers go to war with United Wholesale Mortgage The next coronavirus front: evictions and foreclosures The pandemic's impact on housing market in 2021

Today’s HousingWire Daily features an exclusive interview with Andy Walden, an economist and the director of market research at Black Knight. In this episode, Walden discusses Black Knight’s latest report, which indicates that although delinquencies improved in November, nearly 2.2 million seriously past-due mortgages remain.

Today’s HousingWire Daily episode features an exclusive interview with NotaryCam’s CEO Rick Triola. In this episode, Triola delves into why more title industry professionals have adopted remote online notarization in 2020 and shares why he believes RON is here to stay in 2021. Here is a small preview of today’s interview with Triola. The transcript below has been lightly edited for length and clarity: HousingWire: Let's get started with the main question of RON adoption; as we all know, states have changed a lot this year when it comes to RON acceptance due to COVID-19. Do you think these policies will stick around in 2021? Rick Triola: I think so. RON is pretty much here to stay. It's proven over the last couple of years for the offices that have used us as far back as three or four years ago that it has become very sticky. Sadly, during this pandemic there's a greater need for it today than there was three or four years ago. I think going forward I think going forward; it makes a lot of sense that all of this will become sticky. I can't imagine any legislation reversal. HousingWire: Looking at a national level, what is the state of the Senate’s SECURE Notarization Act? Rick Triola: It's an interesting, timely question because as of [Wednesday] the American Land Title Association has put together a letter to Congress, and I signed off on that. It's needed, as it just gives a standard that everybody could abide by. I think the challenge faced when it first came out, with the pandemic, it was a good idea. But there were a lot of things going on in the world that kind of put that on the back burner. But there's no question that in 2021 and as far as I'm aware of, there are no objections to national RON standards. I think it should go through pretty well in 2021. HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles related to this episode: These are the top RON trends to watch for in 2021 This is the single greatest factor standing in the way of RON 2020 HW Vanguard: Rick Triola

Today’s HousingWire Daily features an exclusive interview with Mark Palim, the deputy chief economist at Fannie Mae. In this episode, Palim explains why he believes the U.S. economy is poised for a considerably stronger 2021.

In today’s HousingWire Daily episode, the HousingWire Digital Team focuses on one of the hottest housing markets in the country, Austin, Texas. The episode takes a look at the city’s hot housing market and examines a recent HW+ article that delves into what contributing factors could be making this red-hot market a magnet for tech companies. This article is part of our HW+ premium membership community. When you go to sign up, use the code “hwpluspodcast100” to get $100 off your annual membership. For some background on the story, here’s a summary of the article: Austin, Texas, dubbed “Silicon Hills,” is already home to tech companies like IBM, Dell, Google, Facebook and Apple. Texas Gov. Greg Abbott said tech companies were flocking to Texas in “an absolute tidal wave.”On Friday, computer technology company Oracle announced in a filing with the Securities and Exchange Commission that it would be relocating its headquarters to Austin, where it already has a sizable campus. The filing said that the company believes “these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work….this means that many of our employees can choose their office location as well as continue to work from home part time or all of the time.”The number of tech and tech-adjacent companies moving to Austin just keeps growing. Over the summer, car manufacturer Tesla announced plans to open a $1.1 billion factory in Austin, claiming it could hire 5,000 people over time. And just last week, Tesla CEO Elon Musk confirmed to The Wall Street Journal that he had relocated to Texas, too.Austin is ranked the No. 4 metro by net inflow of users and their top origins by Redfin– meaning 39.5% of users who search for homes in Austin are from outside the metro area. The top out-of-state origin location is San Francisco.HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles related to this episode: News of Tesla factory revs up hot Austin housing market Austin now a magnet for tech workers wanting to buy homes

In today’s HousingWire Daily episode HW+ Managing Editor Brena Nath joins Mortgage Editor James Kleimann to discuss the most compelling articles reported from the HousingWire newsroom. The pair review Kleimann’s recent article, which is part of HW+ Premium Content, that digs deeper into the latest mortgage application pull-through rate and why LOs say some applications aren’t making it to the finish line. For some background on the interview, here’s a snippet of the article: Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4 trillion this year, stretching the capacity limits of lenders and everyone else in the housing ecosystem, some mortgage applicants simply haven’t been worth his while.“I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado. “They are nearly impossible to finance, thus not worth my team’s time currently. We can’t be chasing rabbits all over the park right now. My team of LOAs, processors, assistant processors, underwriters and closers are still overwhelmed with business…I need to keep it easier for them.”The geo-dome owner was among the tens of thousands of mortgage applicants that didn’t end up getting funded during the third quarter. According to the most recent Mortgage Bankers Association report on profits, 72% of mortgage applications in the third quarter were funded by independent mortgage banks, known as the pull-through rate.Historical data from the MBA shows a huge variance in pull-through rates. In the fourth quarter of 2019, the rate checked in at 78%. Its low point over the last five years was 67%, in the first quarter of 2020. For the most part, the pull-through rate has hovered in the low 70s over the last five years.HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles related to this episode: After 2020's IPOs, 2021 might be the year of MSR CFPB finalizes rules on qualifying mortgages Why 28% of mortgage applicants never close the loan

Today’s HousingWire Daily features a Housing News Podcast crossover episode that includes an interview with Simone Beaty, the director of single-family affordable lending initiatives at Freddie Mac. In this episode, Beaty explains how Freddie Mac is supporting shared equity programs as the COVID-19 pandemic continues to financially strain Americans nationwide.

Today’s HousingWire Daily episode features an exclusive interview with First American’s Chief Economist Mark Fleming. In this episode, Fleming discusses his recent report that examines the U.S. housing market’s lack of housing inventory and why he believes this historic housing supply shortage is likely to continue into 2021. Here is a small preview of today’s interview with Fleming. The transcript below has been lightly edited for length and clarity: HW: As this is something we've been looking at closely, let's discuss housing supply, given how hot the housing market has been this year. Your report highlights that the average homeowner's tenure length is at an all-time high of 10.5 years. How does tenure length impact would-be homebuyers, and are there any other factors to be considered? Mark Fleming: The unfortunate truth is you can't buy what's not for sale. Supply inventory comes almost entirely from existing homeowners. If that existing homeowner chooses to stay in their home longer, the tenure length measures the amount of time people are not moving or selling their home. If there's nothing to sell, there's nothing to buy. Inventory is tight; tenure length is up, existing homeowners aren't bringing their homes to market, so the potential first-time homebuyer has a really hard time finding something to buy. That then plays into house prices and becomes significant bidding wars for what is for sale, which escalates prices. We have to remember that house prices result from the supply and demand dynamic, but not something else. They're a reflection of the imbalance. As the post's title suggests, The Big Short is a significant shortage and historic shortage in housing in the United States today. HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles related to this episode: Increase in housing starts has construction playing catch-up Builder confidence reaches 35-year high in November Mortgage rates fall to another record low at 2.71%

Today’s HousingWire Daily features an exclusive interview with Redfin’s Daryl Fairweather. In this episode, Daryl discusses why she believes the U.S. housing market is likely to withstand a wave of foreclosures once mortgage forbearance comes to an end. Here is a small preview of today’s interview with Fairweather. The transcript below has been lightly edited for length and clarity: HousingWire: Alright, now I want to focus on Redfin’s latest report, which focuses on the nation’s forbearance and foreclosure activity. In the article, Redfin highlights that more than 3.3. million U.S. homeowners will be on the hook for delinquent payments when mortgage forbearance ends, and while some of them will contribute to a wave of foreclosures, most will be able to work with their lenders to either refinance their mortgage or sell to cash in on rising home values. Can you explain this more in detail for our listeners? Daryl Fairweather: During the pandemic, we've had mortgage forbearance, which has been a really great option for people who are worried about a job loss or declining income. For many, not having a mortgage payment has been one less thing to worry about. While there's uncertainty about where the economy is headed not all of those who have chosen to defer their loans are going to end up in foreclosure. The good news for them is that home values have gone up quite a bit during the pandemic. In fact, they've risen over 6%, and most people have a lot of equity in their homes. These people have options. They can refinance their mortgages, which means they'll be able to refinance to lower interest rates, potentially even reducing their payments below what they were initially paying prior to the pandemic. HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles related to this episode: · Mortgage delinquencies expected to remain above pre-pandemic levels until 2022 · Here’s why we won’t see a housing crisis after COVID-19 · Pandemic may lead to foreclosure crisis, CoreLogic says · Despite moratoria, foreclosures increase 20% in October

In today’s HousingWire Daily interview, Matt Tully, Sagent’s vice president of agency affairs and chief compliance officer, discusses how a Biden administration will likely impact housing regulation. During the interview, Tully also explores what the overall change in government administration means for banks and lenders when it comes to housing. For some more background on what is discussed, here’s a brief summary of a recent HousingWire article on The Office of the Comptroller of the Currency's recent announcement of its' appointment of two executives to the Executive Committee: Sydney Menefee has been selected to fill the senior deputy comptroller for Midsize and Community Bank Supervision on a permanent basis, and Greg Coleman will become the next senior deputy comptroller for Large Bank Supervision.Menefee, who has served as acting senior deputy comptroller for Midsize and Community Bank Supervision since June, will lead a team of 1,600 people in the supervision of more than 1,000 national banks and federal savings associations.Menefee’s resume includes two years as deputy comptroller and chief accountant. Before that, she was a professional accounting fellow and held various roles within the OCC as part of the Office of the Chief Accountant and Midsize Bank Supervision. She was commissioned a national bank examiner in 2016. Coleman, who has been a deputy comptroller for Large Bank Supervision since 2015, will direct approximately 800 employees in overseeing the country’s largest national banks and federal branches and agencies, which hold more than $10 trillion in total consolidated assets.The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Industry gives mixed reviews of FHFA's Final Capital Rule Coleman, Menefee selected to OCC executive committee

In today’s HousingWire Daily episode, HW+ Managing Editor Brena Nath joins Magazine Editor Kelsey Ramirez to discuss the most compelling articles reported from the HousingWire newsroom. Brena and Kelsey review HousingWire Magazine’s latest issue, which features several 2021 economic forecasts. The issue, which is part of HW+ Premium Content, also highlights what the HousingWire editorial team believes could happen for each sector of the housing industry in next year’s market. For some background on the interview, here’s a brief summary of a recent HousingWire article on the 2021 housing market forecast: Even prior to the pandemic, housing inventory had hit record lows, and the problem has only gotten worse as demand continues to rise. Total home sales are outpacing new listings by a wide margin every month, and real estate tech company Homesnap foresees the shortage continuing in 2021 unless more sellers enter the market.The divide between supply and demand is striking: compared to last year, total new listings increased .22%, while total sales increased 19.29%. Homesnap said this trend could further drain inventory as 2021 approaches.Home prices have risen as a result of the mismatch in homebuyer demand and housing inventory. The average list price for properties that sold rose 6.7% from September to October this year, which Homesnap said is significantly higher than the same figure in 2018 and 2019.As median home prices keep rising, homeowners who originally planned to sell within the next three to five years might list their homes sooner, Homesnap said, freeing up more inventory.HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Even with low inventory, expect a strong 2021 housing market

In today’s HousingWire Daily interview, Selma Hepp, CoreLogic’s deputy chief economist, discusses findings in the latest S&P CoreLogic Case Shiller home price index, which indicates the nation’s home prices are climbing. During the interview, Hepp also explains what an uptick in mortgage delinquencies means for the overall health of the housing market. Here is a small preview of the interview with Hepp. The transcript below has been lightly edited for length and clarity. HW: Let’s start out with the latest S&P CoreLogic Case Shiller home price index. Are you concerned at all as you see the home-price growth over the last several months?Selma Hepp: That's an excellent question, and I'm going to start by saying no, I'm not. And there's a reason for that. So obviously, this time around, the price growth we're seeing is very much different than what we saw prior to the Great Recession. Housing fundamentals are much different, and the way we are going about our home purchase and refinance market is much different. The reason we're seeing home price growth accelerate so much is because of the low inventory we had coming into this current pandemic. In fact, even prior to the pandemic we had low supply. So, we would probably still be in this situation. On the other hand, if you look at the last two decades of new home construction, and the overall number of housing units in the market, we added only 20 million units but welcomed 46 million people. So, in a 40 year period, there has been a huge imbalance in the number of people in the housing market versus housing units. The low inventory amid this strong demand was a natural occurrence for home prices, as they were going to grow this fast at this point in time. The Housing News podcast explores the most important topics happening in mortgage, real estate and fintech. Each week a new mortgage or real estate executive joins the show to add perspective to the top stories crossing HousingWire’s news desk. Hosted by Sarah Wheeler and produced by Alcynna Lloyd.

In today’s HousingWire Daily episode, John Pataky, TIAA Bank’s executive vice president, discusses the nation’s lack of housing inventory and how it’s impacting homebuyer demand and home prices. For some background on the interview, here’s a brief summary of HousingWire’s coverage on the latest housing starts report: Single-family housing starts gained for the sixth consecutive month in October on an annualized pace not seen since April 2007, a Census Bureau report revealed.Housing starts overall rose 4.9% in October compared to September’s pace and to a seasonally adjusted annual pace of 1.53 million starts – the highest since this February. That growth was mostly driven by single-family housing starts, which increased by 6.4% month-over-month – up 1.18 million annualized units. Multifamily starts were virtually unchanged from September’s revised number.“We expect the paths of single-family and multifamily starts to continue to diverge in the coming months,” said Doug Duncan, Chief Economist at Fannie Mae. “Low-interest rates, a tight supply of existing homes for sale, and a trend towards purchasing homes in suburban areas have contributed to strong demand for new single-family homes. In contrast, we believe a suburban shift and other COVID-19-related dynamics are putting downward pressure on multifamily demand in many urban areas.”Duncan noted the pace of new home sales over the past six months has accelerated more quickly than the construction pace, suggesting home builders will have to play catch up relative to sales going forward.HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Increase in housing starts has construction playing catch-up

Today’s HousingWire Daily features an exclusive interview with Forbes reporters David Jeans and Noah Kirsch. The pair join Mortgage Editor James Kleimann to discuss their recent article published at the end of November, titled “Mortgages, Fraud Claims and ‘Dumb Dolphins.’” The article dives into Better.com CEO Vishal Garg’s controversial workplace culture and how he leads the $4 billion fintech startup that’s preparing for IPO in 2021. Here is a snippet that sums of the interview with Jeans and Kirsch. The transcript below has been lightly edited for length and clarity: Noah Kirsch: I think it's important for readers or listeners to understand that our story really is two-pronged. One is that on the top layer, you have a really successful CEO leading a really successful company who's gotten a ton of positive press. And then our story is really about what's happening beneath the surface. And part of it is about the tangle of lawsuits from many different high-profile parties that have followed Vishal for a long time. The other element is what is it actually like to work for [Vishal]. In some cases, some say that it's worth it, and in some cases, some say that it was a pretty horrifying place to work. I think that's the summary. For background on Better.com, it was founded in 2016 and is a digital homeownership company whose services included mortgage, real estate, title and homeowners insurance. To date, Better.com has funded $25 in home loans and provided over $7 in cumulative coverage through Better Cover and Better Settlement Services. The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Better.com, valued at $4B, prepares for IPO in 2021

Today’s HousingWire Daily episode features an interview with HousingWire Lead Analyst Logan Mohtashami. In this episode, Mohtashami discusses his recent article that focuses on rapid home-price growth in the 2020 housing market and delves into factors that he believes could be driving home prices up. For some background on the story and how COVID-19 has impacted the housing market, here’s a snippet of the article: Demand for housing was strong in early 2020, before the COVID-19 crisis hit. Mandated shut-down measures and the fear of what COVID would do to our economy temporarily immobilized the housing market, evinced by nine weeks of declines in the weekly purchase applications data on a year-over-year basis. Then it was as if the Housing Demographic God exerted her chronokinetic powers to snap demand back to pre-COVID levels of growth. The frozen market thawed and resumed its steady pace of growth, even making up for lost time. Instead of a housing crash, as many others predicted would be the lasting consequence of shut-down policies and massive job losses across the nation, the opposite happened as the 2020 U.S. housing market has been the most out-performing economic sector in the world. However, we now have another issue to worry about — that home prices will accelerate too quickly, unrestrained by an increase in mortgage rates. HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: The downside of the hot 2020 housing market: rapid home-price growth The housing market is hot, but not in a bubble

In today’s HousingWire Daily episode HW+ Managing Editor Brena Nath joins HousingWire Editor in Chief Sarah Wheeler to discuss the most compelling articles reported from the HousingWire newsroom. Brena and Sarah review the announcement that conforming loan limits for Fannie Mae and Freddie Mac are now expected to rise, and examine what record low mortgage rates and recent forbearance numbers could mean for the housing market. For more background on what is discussed, here is a preview of today’s interview. The transcript below has been lightly edited for length: Q: What other pieces of news should we be watching out for right now? Sarah Wheeler: Even though it was a holiday, Black Knight put out their recent forbearance numbers on Friday and notably, the Mortgage Bankers Association is expected to do the same soon. Black Knight's recent numbers do show a small uptick, but just week over week and the forbearance numbers we can see right now are still really good. That's great news for all of us. Nobody wants to see a big uptick in forbearances, but also, it just feels like a lot of the people who are in forbearance now have extensions. Those are some things that we're looking at. We're also looking at delinquencies and seeing how its progressing. It's worth mentioning, we have seen an uptick in the amount of interest in distressed properties, which are vacant properties that were probably foreclosed on before COVID-19. We're discovering some really interesting things on that, but forbearance is something we're going to be examining from here until this time next year or longer. Currently, HousingWire has a forbearance FAQ that we've done in coordination with Freddie Mac. It's just to give our industry and consumers information because we still see people coming out of forbearance who have never talked to their servicer. I mean, there's just no reason for that, and that may not be the best move. I think forbearance is always going to be something we're looking at. The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Fannie, Freddie conforming loan limits increase for 2021 Demand for distressed housing returning What is mortgage forbearance? Here's everything you need to know

Today’s HousingWire Daily features an interview with Zillow Economist Matthew Speakman. In this episode, Speakman discusses Zillow’s recent report that indicates strong homebuyer demand drove home sales in October. Here is a small preview of today’s interview with Speakman. The transcript below has been lightly edited for length and clarity: Q: I want to start by discussing Zillow’s recent report that states existing home sales continued to surge in October on the strength of buyer demand. The report, which uses data from the National Association of Realtors, indicates existing home sales rose to 6.85 million in October, climbing 4.3% from September and 26.6% from a year ago. What does this tell us about the current state of the housing market? Matthew Speakman: It's pretty remarkable. It's another strong stretch of reports on the housing market. The report says it's the strongest annual growth in more than a decade and the best pace in overall existing sales since before the Great Recession. Again, it's a reiteration that housing market activity is really strong and healthy. There is elevated buyer demand and market competition for the few homes listed on the market. Mortgage rates and other factors have enabled some people to take the leap into the housing market and offered more attractive buying conditions. Overall, it's just an emphasis that the housing market has fared really well throughout the pandemic, and that continues into the fall. The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Mortgage rates break record again, down to 2.72% Existing home sales increase for the fifth month in a row

In today’s HousingWire Daily episode, Mike Fratantoni, the Mortgage Bankers Association’s chief economist, discusses the MBAs Mortgage Forecast, which includes revised estimates for the third and fourth quarter of 2020, as well as predictions for next year’s purchase market. For some background on the interview, here’s a brief summary of HousingWire’s coverage on MBA’s predictions: The Mortgage Bankers Association on Tuesday released revised estimates for the third and fourth quarter of 2020 and predicted record purchase volume for 2021. Although the MBA expects decreased refinancings in 2021 and a decline in overall origination to around $2.56 trillion, that would still be the second-highest origination total in the last 15 years.The rebounding economy is likely to mean higher mortgage rates, with the MBA forecasting 2.9% by the end of 2020, rising to 3.3% by Q4 2021.The MBA is forecasting a rise in purchase originations to $1.59 trillion, which would break the previous record of $1.51 trillion set in 2005. However, the MBA sees refinances decreasing to $971 billion.“The housing market has seen a meaningful rebound since the onset of the pandemic,” said Mike Fratantoni, MBA chief economist. “Record-low mortgage rates have led to a surge in orrower demand for refinances and home purchases.”For 2020, the MBA is estimating $3.39 trillion in mortgage originations – the highest since 2003 and a 50% increase from 2019.HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: MBA predicts record purchase mortgage volume in 2021 Mortgage forbearance rate falls 20 basis points to 5.47%

In today’s HousingWire Daily episode Digital Producer Alcynna Lloyd joins HousingWire Editor in Chief Sarah Wheeler to discuss David Stevens' recent article that examines what the housing market could look like in a Biden administration. The pair also review the Federal Housing Finance Agency’s Final Capital Rule and explore what it means for the GSEs. For some background on the interview, here’s a brief summary of Stevens’ recent article that addresses who Biden is likely to appoint for key positions: We are now under 60 days remaining until we have President Biden and Vice President Harris leading a new administration in D.C. Beyond any political views of the election and the ensuing drama, industry is asking: What will a Biden regime mean to housing and mortgages? How should we think about regulation, the GSEs, HUD and more?Here are a few thoughts to consider as to what the next four years may look like.In a general sense, Democratic regimes tend to be more bullish for government support to housing, while Republican ones are more bullish for lowering the aggressiveness of regulators and oversight. While not a universal truth, we can all remember the eight years under President Obama and the impact of a new, aggressive, regulator tasked under congressional legal mandate to implement the required rules set forth in Dodd Frank.Those were challenging years, and while the implementation was hard and every rule has imperfections, today we are past those statutory obligations as all the rules required are now in place. For that reason, I do not expect the aggressive regulatory posture overseeing mortgage lenders to be like it was under Obama.The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Here's what to expect from a Biden administration regarding housing FHFA issues Final Capital Rule for Fannie, Freddie What a Biden victory would mean for housing

Today's HousingWire Daily features an exclusive interview with Bankrate's Senior Vice president and Chief Financial Analyst Greg McBride. In this episode, McBride discusses Bankrate's recent survey on refinancing appetite and explains why many homeowners have not considered refinancing their homes. Here is a small preview of today's interview with McBride. The transcript below has been lightly edited for length and clarity: Q: According to the survey, 52% of homeowners have not considered refinancing their homes. That's a pretty high percentage. Can you explain some of the top reasons they haven't? Greg McBride: That's a very high percentage considering this has been a year of record-low mortgage rates. There are really three reasons that people point to; one is they feel it's not going to save them enough money, second, is they say that the fees or closing costs are too high and the third most common is paperwork. They say there is too much paperwork and hassle involved in the refinancing process. Q: Let's discuss the recently introduced refi fee that will be implemented on December 1. Bankrate's survey determined this fee is now impacting whether or not homeowners are choosing to refinance. Can you expand on this for our listeners? Greg McBride: There's definitely a big outrage factor as far as this fee is concerned. We found that 57% of those who haven't refinanced this year claimed the fee is why they would not refinance, including 42% who said they're much less likely to refinance as a result of the fee. We've seen most lenders reflect this in pricing by tacking on about an eighth of a percentage point to the rate. It's not something that's necessarily going to have to be paid out of pocket via a fee, it's already reflected in pricing. And that pricing is such that we're still seeing record low rates. Yes, it's out there, but it doesn't dilute the benefit of refinancing, given how low rates are today. HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: FHFA delays refinance fee start date to Dec. 1 Mortgage rates break record again, down to 2.72%

In today’s HousingWire Daily interview, features Tendayi Kapfidze, LendingTree’s chief economist, discusses how the COVID-19 pandemic has altered the nation’s home buying trends. Here is a small preview of the interview with Kapfidze. The transcript below has been lightly edited for length and clarity. Q: The COVID-19 pandemic has left millions of Americans financially strained as unemployment rates have climbed and job markets have shrunken. What are some impacts you’ve been following? Tendayi Kapfidze: Around 40 million or so Americans lost their jobs or had a negative shock to their income, and as of the most recent data, there are around 20 million Americans who are still receiving some form of income support in terms of the various unemployment benefits that are out there. So, a lot of Americans are really under a significant financial strain. And, for many who had hoped their jobs would be coming back after a few months, that's not turning out to be the case. A lot of the job losses that we saw in March, April and May, are what are called temporary job losses, which means that the person who loses their job expects to get their job back within, say, six months or so. Now, even though we're seeing fewer job losses, a lot of those original jobs didn't come back and people that are losing jobs now are enduring what is called permanent job losses. So, we've seen a transition from temporary to permanent job losses. And that means a weak economy, going forward. Q: According to LendingTree, 46% of those who responded to its survey indicated they were thinking about relocating within the next year. Of this total, 27% said they wanted to move to a new place in their current market, while 12% said they wanted to move to another city and 8% said they wanted to move to a new state entirely. Why are some homebuyers either choosing to remain at home or relocate to a different market? Tendayi Kapfidze: There are a variety of reasons. For some, it’s now realizing that maybe they need more space at home, especially if they’re working from home and their kids are in remote school. The home may not offer enough space for everybody to do their work without interruptions from the rest of the family. A lot of home buyers or home seekers, even people who are renting are looking for more space for activities they’re not doing at home. I think even after this health crisis is over, a lot of these work from home policies are going to remain. So, you know, it's a long-run view that people are probably going to need more space at home. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

Today’s HousingWire Daily episode features an interview with HousingWire Lead Analyst Logan Mohtashami. In this episode, Mohtashami discusses his recent article that examines how the recent surge in Coronavirus cases could impact the housing market this winter. In addition to sharing his thoughts on his article, Mohtashami also gives a refresher on the five indicators that show when the housing market is rebounding from COVID-19 and where they stand now. For some background on the story and how COVID-19 has impacted the housing market, here’s a snippet of the article: With COVID infection rates exploding and hospitalization rates rising as we go into the cold winter months, the risk this poses to our recovering housing market is a question that should be addressed. In a previous article, I identified infection rates during the winter months as one of the economy’s high-risk variables.Before COVID-19 hit our shores, we were trending at 10% growth, working at cycle highs in demand. The housing heat months for the MBA purchase application data are from the second week of January to May’s first week. Typically, after May, total volumes fall as seasonality kicks in. We had double-digit growth until March 18.Then COVID-19 hit and we had nine consecutive weeks of year-over-year declines. The fear of the virus, the stay-at-home orders, a collapsing stock market and a rising financial stress index all played a part in the market’s rapid decimation. Four weeks into the decline, the market stabilized, and the rate of decline stopped, then began to recover over the next five weeks.We eventually turned positive on a year-over-year basis and got a true V-shape recovery, despite all the Housing Bubble Boys’ protestations calling for a crash. You may have heard whispers about a “W-shape market,” meaning a decline after the recovery. But instead, we have had 25 straight weeks of year-over-year growth, averaging over 20%.The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: What the surge in COVID cases means for the housing market this winter 5 indicators that will show when the housing market is rebounding from COVID-19

In today’s HousingWire Daily episode, Realtor.com’s Senior Economist George Ratiu discusses how student loan debt is impacting the nation’s finically strained borrowers. For some background on the interview, here’s a brief summary of HousingWire’s coverage on the student debt crisis: What is holding back potential homeowners from buying? According to the National Association of Realtors 2020 Profile of Home Buyers and Sellers, 47% of potential homebuyers said student loan debt was the biggest obstacle in saving for a down payment.In addition, 43% cited high rent/mortgages and 36% cited credit card debt as factors getting in the way of saving for a down payment.This year, the number of first-time homebuyers dropped to 31% from 33% last year, the lowest share since 1987 when it was 30%.Over the course of this year, home prices have continued to tick upward due to low inventory and high demand. NAR said that the median down payment for all homebuyers this year was 12% — 7% for first-timers and 16% for repeat buyers. Out of first-timers, 26% said they used family for help for the down payment via gift or loan, which is down from last year when that number was 33%.Of those who purchased after March – when the pandemic was declared in the U.S. – 15% said they were more likely to purchase a multi-generational home compared to 11% who purchased before. These buyers were also more likely to purchase more expensive homes after March, at $339,400 compared to $270,000 before.HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Student loans hinder saving for a down payment, NAR finds With Biden win, the future of forbearance and student loans

In today’s HousingWire Daily episode HW+ Managing Editor Brena Nath joins HousingWire Editor in Chief Sarah Wheeler to discuss the most compelling articles reported from the HousingWire newsroom. Brena and Sarah discuss the recent announcement on the progress of a 2nd coronavirus vaccine and its potential impact on the housing market. For more background on what is discussed, here is a preview of today’s interview. The transcript below has been lightly edited for length: Q: Outside of the big news that’s trending now, is there any other piece of news right now that's piquing your interest? Sarah Wheeler: I'm interested in how a COVID vaccine might affect interest rates, especially mortgage rates. We know we're in a low-rate environment, which is what's fueling our origination boom right now. So, I wonder if we get this under control, is the Fed still going to stick to that really low-interest rate through the end of 2021 into 2022, which is what they've said and what people are really banking on? I know they don't want to do anything. And, they've been really careful and cautious, so it's not like they want to shake anything up. I think it's going to be interesting because if in fact this vaccine makes a huge difference very quickly, which is still to be seen, I will be interested to see what that looks like for mortgage rates. The other thing that we're really keeping an eye on is forbearance, especially with FHA forbearance. While there are a lot of people exiting forbearance with agency loans, that's not true with FHA, so we are keeping a close eye on that. I think forbearance will be the story and possibly foreclosure, but I think there's going to be more forbearance in the next six months. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: What the surge in COVID cases means for the housing market this winter Mortgage technology is key for lenders and title companies in 2021

In today’s Daily Download episode, Dana Wade, housing commissioner for the Federal Housing Administration and the assistant secretary for housing at the U.S. Department of Housing and Urban Development, discusses the administration’s newly released annual report, which analyzes the financial status of the mutual mortgage insurance fund for fiscal Year 2020. For some background on the interview, here’s a brief summary of HousingWire’s coverage on the report: The Federal Housing Administration’s flagship Mutual Mortgage Insurance (MMI) Fund is in the best condition since before the financial crisis with a combined capital ratio for FY 2020 at 6.1% – only .3% away from levels seen in 2007.Under the National Housing Act, the FHA is required by Congress to maintain at least a 2% ratio in reserves for the MMI fund, which it has done now for the sixth consecutive year.Dana Wade, FHA commissioner and assistant secretary for the Department of Housing and Urban Development, spoke to HousingWire Digital Producer Alcynna Lloyd in an exclusive interview and gave her perspective on the annual report.“It’s kind of like the Super Bowl for FHA, or at least for those nerdy enough to pay attention to this,” Wade said.Up from 4.84% in 2019, Wade said robust housing values and the growth in house price appreciation was not only a bright spot for the housing community but a driving factor in the 1.26% year-over-year increase the MMI fund experienced.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: FHA Commissioner on the MMI fund capital ratio growth to 6.1%

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss what a Biden presidency could mean for housing, as well as what the housing market could look like in 2021. For some background on the interview, here’s a brief summary of HousingWire’s latest article on Biden’s housing agenda: As results trickle in following a historic 2020 general election, results seem to be leaning toward a Joe Biden victory, but potentially also a Republican-led Senate. What would the impact of a Biden presidency be on housing?Gridlock in Washington won’t stop Biden’s administration from attempting to push through sweeping changes into housing, where the former vice president has promised to invest $640 billion over the next 10 years so Americans can have “access to housing that is affordable, stable, safe and healthy, accessible, energy efficient and resilient,” according to his campaign website. He has pledged to introduce a tax credit for first-time homebuyers upwards of $15,000, reintroduce sharper regulatory teeth to agencies such as the Consumer Financial Protection Bureau, alter a spate of restrictive zoning laws to increase development, build millions of units of affordable housing, and cap payments for certain renters. It is also widely believed a Biden administration would keep the GSEs under conservatorship. Regardless of who’s in the White House, observers from across the housing and mortgage industries believe interest rates will continue to hover near historic lows for the next several years and volumes will remain high, largely due to simple economic realities: there simply isn’t enough inventory and the economy is too fragile for rates to increase. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: What a Biden victory would mean for housing

In today’s Daily Download episode, the digital team interviews James Kleimann, HousingWire’s mortgage editor, on loanDepot’s announcement that it plans to go public. For some background on the story, here’s a summary of the article: After a dramatic false start in 2015, California-based lender loanDepot says it’s finally going public.The company, founded by billionaire entrepreneur Anthony Hsieh, said Wednesday morning that its newly formed affiliate loanDepot Inc. had confidentially filed paperwork with the Securities and Exchange Commission to go public.“The number of shares of Class A common stock to be sold and the price range for the proposed initial public offering have not been determined,” the lender said in a statement.In September, Bloomberg reported that loanDepot, which operates in retail, wholesale and correspondent channels, was eyeing an IPO that would see it valued at between $12 billion and $15 billion.LoanDepot, backed by private equity shop Parthenon Capital Partners, first announced plans to go public in September 2015, but canceled the IPO hours before pricing due to what the company called adverse “market conditions.”At the time, loanDepot had sought a market value of $2.4 billion to $2.6 billion. In March 2017, the company revived plans for an IPO but didn’t follow through.LoanDepot, which has a reputation for investing heavily in technology, was the sixth-largest mortgage lender in 2019, issuing 146,000 originations. It originated 52,000 purchase loans and 81,000 refinancings, according to data from the Consumer Financial Protection Bureau.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: LoanDepot says it’s going public (for real this time) LoanDepot could make public debut this year at up to $15B Will loanDepot finally file for IPO?

In today's Daily Download episode, EasyKnock CEO Jarred Kessler joins the HousingWire Digital Team to discuss hot housing market trends in the U.S., how he thinks a second stimulus bill will impact Americans, and what may be ahead in 2021. In this episode, Kessler also explains why he does not anticipate trends like mortgage rates rising in the upcoming year. According to him, given a struggling economy, coupled with a delayed stimulus bill which projects another four million jobs estimated to be lost, the trend may not reverse anytime soon. Later in the episode, Kessler discusses The Commerce Department's recent home sales data and his thoughts on the housing market's lack of inventory. "I do believe there's a low supply, but I think that drop is not as much of a result of the supply in the market," Kessler said. "It's more that you just had better months prior." Kessler said while the housing market is on fire, he does not think the two dynamics of low-interest rates and low supply are necessarily sustainable. "A lot of people in this country, their biggest assets are in their home, and they're going to look to have to find ways to monetize that because they're going to have no choices," Kessler said. "So those two movies, of a good housing market and a very struggling economy are going to converge, and I think people need to pay close attention to that." The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Without another stimulus package, rent delinquencies could rise Why is the housing market thriving in a pandemic?

In today’s Daily Download episode HW+ Managing Editor Brena Nath joins Mortgage Editor James Kleimann to discuss the most compelling articles reported from the HousingWire newsroom. Brena and James discuss president-elect Joe Biden’s election win and how it could impact the mortgage industry, as well as Rocket Mortgage’s upcoming earnings call. For more background on what is discussed, here is a preview of today’s interview. The transcript below has been lightly edited for length: Q: What were some of the top stories that stood out to you last week? James Kleimann: There was only one story that happened in my mind last week and also, it happened to be one of the most well-read pieces, which is the story I did with Tim Glaze about what a Biden administration would mean for housing. There are a lot of national publications and talking heads on cable news, and they talk about the presidency, but there are very few outlets that look at it from the housing goals. What we really wanted to do was to talk to some experts in housing and in the mortgage industry as well, and really try to get a sense of what Biden would prioritize and what would actually be achievable during his term. And that really depends primarily on what happens with the Senate. Last week, we had a lot of clarity on how the electoral votes were shaping up, but we didn't know until Saturday that it would, in fact, absolutely be Biden. But at that point, we sort of operated on the premise that we were probably going to have Joe Biden at 1600 Pennsylvania Avenue, and very likely we were going to have a Republican-controlled Senate. Unless they're able to flip Georgia, which could happen but I don't think people expect it to happen. We really wanted to ask people what is going to happen in the first year or two of a Biden presidency, and for the most part, they said they expect a much more active CFPB, just in terms of enforcement. Another key point is Biden in particular, has talked a lot about using the strength of the federal government to push forward affordable housing initiatives, and in some cases, he might use Fannie Mae and Freddie Mac to strengthen affordable housing. In others, it could be public, private partnerships, kind of like what NYCHA is doing with private ownership in New York City. Q: What is one article or piece of news that you think people need to be paying attention to right now? James Kleimann: I think a lot of companies are going to be paying very close attention to what Rocket Mortgage does in their earnings call coming tomorrow at 4:30 EST. They were projecting record volume and record originations, probably a little bit lower again on sales margin this quarter, but this could be the biggest quarter for Rocket ever. It’s just a funny time because you had all of these minor events in the stock market, it was up 600 and it was down 800, it's all over the place and it spooked a lot of the other independent mortgage banks that were looking to go public. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

In today’s Daily Download episode, HousingWire’s digital team interviews HousingWire Reporter Tim Glaze and Magazine Editor Kelsey Ramirez on their respective articles that discuss how the 2020 presidential election will affect the U.S. housing industry. The reporters examine the likely impact President Donald Trump or Former Vice President Joe Biden could have on the U.S. housing ecosystem if elected president. During the interview, Glaze addresses how Biden's proposed $15,000 tax credit could help financially strained first-time homebuyers, while Ramirez examines how homebuilding, housing regulation, and the fate of the GSEs will be impacted if Trump were to win a second term. According to her, a Trump presidency would mean a continued effort toward moving the GSEs out of conservatorship. “When Trump first came to office four years ago, he issued a declaration that he wanted the GSEs out of conservatorship and he wanted it to happen now,” Ramirez said. “He appointed FHFA director Mark Calabria, who has worked to make that happen and he's consistently said that by the time he ends his term, he wants the GSEs either out of conservatorship or well on their way out.” Under a Trump win, Ramirez says housing regulation would continue to be a scaled-back approach. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: What a Biden victory would mean for housing What would a Trump win mean for housing? Mark Calabria: New director changes course for FHFA Trump signs executive order to massively roll back regulation The fate of Fannie and Freddie hangs in the balance

In today’s Daily Download episode, HousingWire continues its 2020 election coverage by discussing what a Biden or Trump victory could mean for the housing industry. For some background, here’s a summary of each article: What a Biden victory would mean for housing?As results trickle in following a historic 2020 general election, results seem to be leaning towarda Joe Biden victory, but potentially also a Republican-led Senate. What would the impact of a Biden presidency be on housing?Gridlock in Washington won’t stop Biden’s administration from attempting to push through sweeping changes into housing, where the former vice president has promised to invest $640 billion over the next 10 years so Americans can have “access to housing that is affordable, stable, safe and healthy, accessible, energy efficient and resilient,” according to his campaign website. He has pledged to introduce a tax credit for first-time homebuyers upwards of $15,000, reintroduce sharper regulatory teeth to agencies such as the Consumer Financial Protection Bureau, alter a spate of restrictive zoning laws to increase development, build millions of units of affordable housing, and cap payments for certain renters. It is also widely believed a Biden administration would keep the GSEs under conservatorship. What would a Trump win mean for housing?In the event that Trump wins the presidency, what would that mean for the housing industry for the next four years?One of the largest impacts will be what happens to the conservatorship status of Fannie Mae and Freddie Mac.When Trump appointed Federal Housing Finance Agency Director Mark Calabria to take the helm of the agency on Dec. 12, 2018, the director was very clear on his goals: remove the GSEs from conservatorship and define the FHFA’s role without them.For now, the FHFA continues to operate under the assumption that business will continue as normal. Just last week the FHFA released its strategic plan for 2021 to 2024, which continues to prepare Fannie Mae and Freddie Mac to leave conservatorship.But a Trump presidency is needed in order to ensure the GSE conservatorship really will end.Following the main story, HousingWire covers Freddie Mac’s Primary Mortgage Market Survey, which shows mortgage rates have fallen to a new all-time low, coming in

Today’s Daily Download episode features an in-depth interview with David Stevens, former president and CEO of the Mortgage Bankers Association. In this episode, Stevens discusses the U.S. presidential election that is still underway and delves into what the future of housing officials could look like under a potential new administration. He also discusses his latest blog on the adverse market refinance fee. For some background on the interview, here’s a brief summary of Stevens’ latest article on the adverse market refinance fee: Fannie Mae and Freddie Mac released their Q3 earnings last week, reflecting a combined $6.7 billion in net income, up significantly from the previous quarter. This strong performance was not unexpected, but makes the upcoming 50 basis point adverse market refinance fee more puzzling.In their earnings Q3 2020 10-Q release, Fannie Mae states the following, “We are implementing a new adverse market refinance fee in light of the increased costs and risk we expect to incur due to the COVID-19 pandemic.”Seriously? Fannie produced $7.2 billion in consolidated net income YTD with an impressive fourth quarter likely yet to come. And while they certainly are key to providing enormous liquidity to the nation’s housing system, the results would never be what they were if it were not for two things.First, Federal Reserve actions loaded taxpayers with debt that now exceeds total GDP, pushing mortgage rates to historic lows. Second, agency MBS is one of two Triple-A rated instruments in housing on this earth, along with GNMA MBS, and draws investors globally. That rating has nothing to do with the GSEs’ skill sets, it comes from the government guaranty backing these companies.In other words, for the GSEs, this success was unavoidable. The government’s response to the COVID pandemic drove rates low, spurring consumer demand and the GSEs now benefit by being able to execute through any private capital option because of their exclusivity of the guaranty.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: The adverse market refinance fee on mortgages is unwarranted How will the 2020 election impact the housing market?

In today’s Daily Download episode, the HousingWire Digital Team focuses on the 2020 election and examines President Donald Trump's and Former Vice President Joe Biden’s stance on housing and housing policies. During the episode, HousingWire explores how the U.S. housing market could potentially look and behave under Trump’s second term, while examining components outlined in Biden’s $640 billion housing plan, something the Trump Administration has still yet to unveil. While President Trump and his Democratic opponent both agree on wanting to win the 2020 election and become the next U.S. president, it’s their view on housing that differs greatly. In this episode, the team focuses on some of the most significant policies and announcements during Trump’s presidency, ranging from the Federal Housing Finance Administration, affordable housing and zoning. The team also takes a look into Biden’s plan to implement the Obama-Biden administration's Affirmatively Furthering Fair Housing Rule, Biden’s first-time homebuyer tax credit and the 0.5% adverse-market fee on refinanced mortgages purchased by Fannie Mae and Freddie Mac. Notably, the U.S. housing industry has experienced unprecedented times this year as the deadly COVID-19 pandemic has contributed to market changes that have impacted most aspects of the home-buying process. When the pandemic was declared in mid-March, housing became a national topic as the unemployment rate spiked, leaving nearly 40 million Americans to potentially face forbearance, evictions and mortgage delinquencies. Without any signs of slowing down, the virus continues to spread from coast to coast, bringing with it a bevy of concerns. For the housing industry, these range from purchase volume, housing supply, regulation and more. As the virus becomes a permanent fixture in American life, many in the housing industry now wonder how the sector will weather this market uncertainty. For many, the answer will be determined by who wins the U.S. 2020 election. HousingWire articles covered in this episode: HUD to abolish Obama-era AFFH fair housing rule Biden's first-time homebuyer tax credit in the age of COVID-19 What happens to the refi fee if Biden wins?

In today’s Daily Download episode HW+ Managing Editor Brena Nath is joined by HousingWire Editor in Chief Sarah Wheeler to discuss the most compelling articles reported from the HousingWire newsroom. In today’s Daily Download episode, Brena and Sarah discuss Dave Stevens' recent in-depth article that covers the adverse market refinance fee. For more background on what is discussed, here is a preview of today’s interview: Q: In your opinion, what's one piece of news that you think people need to be paying attention to? Sarah Wheeler: We just published a piece from Dave Stevens, who is of course the former CEO of the MBA but also the former senior vice president of single family at Freddie Mac, executive vice president at Wells Fargo, and assistant secretary of housing and FHA Commissioner, so a guy who kind of knows what he's talking about. We asked him last week, [to] look at the adverse market fee, given the third quarter earnings of Fannie and Freddie, which came out last week. We really wanted to get his thoughts because there's been a lot of questions on the adverse market fees on refis. It's 50 basis points for the average homeowner right now in the middle of a pandemic. So we asked him to give us his opinion on whether that's really needed. The GSEs had different reasons for doing that and said it was because of risk. They also said it was because of all the work that they're doing with refis and origination. Dave Stevens gave an amazing take on that today that I'd not miss out on reading. I think anyone in the industry would be really interested to see what he says, and he really feels like it has absolutely nothing to do with risk. And given their third quarter earnings, it's really a travesty to put that on homeowners right now. It also affects our industry. But really, it's the bottom line for homeowners who are trying to refi to get into a better economic spot. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. Q: It's a big week this week. What can we expect to come out of the newsroom today, tomorrow and the rest of the week? Sarah Wheeler: We obviously have the election this week, which is the biggest thing. So, we're going to be interviewing different industry experts on the results. Whether it's the mortgage industry or talking to people in the real estate industry, we want to talk about it. Some top housing issues are really hanging in the balance, like Fannie and Freddie exiting conservatorship, what happens to the FHFA director, what happens to the CFPB. Be sure to tune in starting really late Tuesday night and into Wednesday. We'll definitely be keeping you up to date, especially on the things how the 2020 election impacts housing. While there's tons of election coverage out there, our goal is really to give you the news nowhere else. And if you're in our industry, who else is going to be covering the specifics of how this impacts your business? So that's really our goal. HousingWire articles covered in this episode:

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss the rising price of median home prices, which are now up 15% year over year. For some background on the interview, here’s a brief summary of HousingWire’s latest article on the housing market’s growing demand: The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space have turned this year into a boom time for real estate agents.“It’s been a circus, really,” said Anthony Lamacchia, Realtor and owner of Lamacchia Realty in the Boston suburbs. “Anything right outside of Boston is going like wildfire, but especially the single-family homes.”Even though the average home sale price in Massachusetts is the highest it’s been in the last 10 years, Lamacchia said there are bidding wars everywhere and single-family homes are “just flying off the shelves.”“I’ve never seen bidding wars – I mean, you know, randomly here or there – but I’ve never seen bidding wars with consistency in the fall like I have this fall. It’s crazy,” Lamacchia said. “They’re everywhere.”HousingWire caught up with real estate agents across the U.S. to ask what their markets look like now compared to the summer and what they think the next few months could hold. Across the different markets, the agents consistently reported bidding wars amid heightened demand for single-family homes, low inventory and an increase of buyers fleeing big cities.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: The housing market faced uncertainty in March, but now 'it's a circus' Luxury housing market inspires 'total frenzy' in vacation boom towns Home prices rose by record numbers last week

Today’s Daily Download episode features an interview with Zillow Economist Matthew Speakman. In this episode, Speakman discusses the U.S. Census Bureau’s latest housing starts report, which shows the number of single-family homes built in September reached the highest level since 2007. For some background on the interview, here’s a summary of HousingWire’s coverage of the report: Single-family housing starts soared in September, a new report from the U.S. Census Bureau shows, despite an overall rate that was dragged down by a decline in multifamily starts.Privately-owned housing starts in September rose to an annual rate of 1.415 million, 1.9% above the revised August estimate of 1.388 million and 11.1% above the September 2019 rate of 1.274 million, the Bureau said. Single-family housing starts in September were at an annual rate of 1.108 million, which is 8.5% above the revised August figure of 1.021 million, and a level not seen since 2007, Doug Duncan, chief economist at Fannie Mae, said.“While starts were up 10.4% from a year prior, the somewhat modest month-over-month change was due to largely offsetting trends in single-family and multifamily starts,” Duncan said. “The former rose 8.5% over the month to 1.1 million annualized units, a level not seen since 2007. In contrast, multifamily starts fell 16.4%, to one of the slowest monthly paces since 2013, not including this past April.”Today’s Daily Download episode features an interview with Zillow Economist Matthew Speakman. In this episode, Speakman discusses the U.S. Census Bureau’s latest housing starts report, which shows the number of single-family homes built in September reached the highest level since 2007.For some background on the interview, here’s a summary of HousingWire’s coverage of the report: Single-family housing starts soared in September, a new report from the U.S. Census Bureau shows, despite an overall rate that was dragged down by a decline in multifamily starts.Privately-owned housing starts in September rose to an annual rate of 1.415 million, 1.9% above the revised August estimate of 1.388 million and 11.1% above the September 2019 rate of 1.274 million, the Bureau said. Single-family housing starts in September were at an annual rate of 1.108 million, which is 8.5% above the revised August figure of 1.021 million, and a level not seen since 2007, Doug Duncan, chief economist at Fannie Mae, said.“While starts were up 10.4% from a year prior, the somewhat modest month-over-month change was due to largely offsetting trends in single-family and multifamily starts,” Duncan said. “The former rose 8.5% over the month to 1.1 million annualized units, a level not seen since 2007. In contrast, multifamily starts fell 16.4%, to one of the slowest monthly paces since 2013, not including this past April.”The Daily Download examines the most compelling mortgage, real estate, and fintech articles reported from the HousingWire newsroom. Each afternoon, the HW team provides our listeners with a deeper look into the stories that are helping Move Markets Forward. Hosted and produced by Alcynna Lloyd and Victoria Wickham.HousingWire articles covered in this episode:

Today’s Daily Download episode features an interview with Patti Cook, Finance of America CEO. In this episode, Cook discusses how the mortgage company has fared during the novel COVID-19 pandemic and delves into the lender and servicer’s recent announcement that it's set to go public in the first half of 2021. For some background on the interview, here’s a brief summary of the latest article discussing Finance of America joining the IPO craze: End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze.The lender and servicer, owned by the Blackstone Group’s Tactical Opportunities business, is slated to go public in the first half of 2021 through a special purpose acquisition company at a $1.9 billion valuation. After it merges with Replay Acquisition Company, Finance of America will receive a $250 million investment from institutional investors, according to the Wall Street Journal, which first reported the merger. Blackstone will own 70% of the company, which is expected to go public in the first half of 2021.Finance of America says its collection of companies has originated over $65 billion in loans since 2017. Its products include traditional mortgages, commercial real estate loans, reverse mortgages, fixed-income investing and title services. Blackstone has expanded its Finance of America corporation through a number of acquisitions in recent years, including pickups of Gateway Funding, Pinnacle Capital Mortgage and Skyline Home Loans.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Blackstone-owned lender and servicer Finance of America to go public

In today’s Daily Download episode, HousingWire discusses a motion filed by Townstone Financial to dismiss a lawsuit the Consumer Financial Protection Bureau filed against the company in July. For some background on the story, here’s a summary of the article: On Monday, Townstone Financial Inc., a Chicago-based nonbank retail mortgage lender, filed a motion to dismiss a lawsuit the Consumer Financial Protection Bureau filed against the company in July.The July 15 complaint alleged that Townstone violated the Equal Credit Opportunity Act (ECOA) and Regulation B by engaging in discriminatory mortgage-lending practices and that those violations also constituted violations of the Consumer Financial Protection Act.Townstone moved to dismiss the lawsuit based on expressive action that the CFPB attempted to expand the reach of the ECOA to “prospective applicants,” which the company said is not regulated under ECOA.The CFPB’s suit alleges that, from 2014 through 2017, Townstone engaged in practices that illegally discouraged prospective African-American applicants from applying to Townstone for mortgage loans as well as practices that discouraged prospective applicants living in African-American neighborhoods in the Chicago MSA from applying to Townstone for mortgage loans.Following the main story, HousingWire also covers a report from the Mortgage Bankers Association that indicates the U.S. forbearance rate fell slightly to 5.9% last week and an announcement from First American that it has agreed to acquire sub-servicer ServiceMac.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Townstone Financial files motion to dismiss CFPB redlining lawsuit Mortgage forbearances down 2 basis points to 5.9%, led by Fannie and Freddie First American to acquire subservicer ServiceMac

In today’s Daily Download episode, HousingWire covers an announcement that Guild Mortgage has agreed to pay $25 million dollars to settle a federal lawsuit. For some background on the story, here’s a summary of the article: Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans.Guild agreed to settle the federal lawsuit, brought by the Department of Justice, for just under $25 million, the government said Thursday. It did not admit to any wrongdoing.The lawsuit, brought initially in 2016, alleged that Guild knowingly originated and underwrote mortgages that didn’t meet the program requirements of the FHA. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance. Guild failed “to comply with material program rules that require lenders to maintain quality control programs to prevent and correct underwriting deficiencies, and failed to self-report materially deficient loans that it identified,” the government said.“As this settlement demonstrates, we are committed to holding mortgage lenders accountable when they choose to abuse the integrity of vital government programs that are designed to assist homeownership,” U.S. Attorney Robert Brewer for the Southern District of California said in a statement. “We also commend the whistleblower for coming forward, exposing these wrongs, and working with the government investigative team.”Following the main story, HousingWire covers the Federal Housing Administration’s new Automated Underwriting System and a report from Redfin that suggests the luxury housing market has inspired a frenzy in vacation boom towns The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit FHA unveils Automated Underwriting System as part of modernization initiative Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Today’s Daily Download features a Housing News Podcast crossover episode that includes an interview with Thomvest Ventures’ Nima Wedlake. During the interview, Wedlake discusses his recent blog that examines Opendoor’s business practices, its current progress, and its future prospects. For some background on the interview here’s a brief summary of HousingWire’s article on the OpenDoor S-4 filling: Opendoor has officially filed its announcement to go public after announcing its merger with Social Capital Hedosophia Holdings Corp. II in September. But the filing also revealed that Opendoor is under investigation by the Federal Trade Commission over its advertising practices.According to the filing, Opendoor in 2019 received a civil investigative demand.“In August 2019, the FTC sent a civil investigative demand (CID) to Opendoor seeking documents and information relating primarily to statements in the company’s advertising and website comparing Opendoor’s offers to purchase homes to selling in a traditional manner using an agent and statements pertaining to Opendoor’s offers reflecting or being based on market prices,” the filing said.Inman first reported on the investigation, which was disclosed in the company’s S-4 statement. As of Oct. 1, the investigation is ongoing, the filing says.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.HousingWire articles covered in this episode: Thomvest Ventures' Nima Wedlake on OpenDoor's S-4 Opendoor discloses that it's under federal investigation Blackstone-owned lender and servicer Finance of America to go public Caliber Home Loans plans $2B-plus IPO

In today’s Daily Download episode, HousingWire discusses major forbearance policy changes from the Federal Housing Finance Agency and Federal Housing Administration. For some background on the story, here’s a summary of the article: Major forbearance policy changes have been set into motion.The Department of Housing and Urban Development announced on Tuesday an extension allowing single-family homeowners with Federal Housing Administration-insured mortgages to request an initial forbearance through Dec 31, 2020.Homeowners with FHA-insured mortgages that needed assistance due to financial hardship from the pandemic initially had through Oct. 30 to request forbearance. However, a news release from HUD said that the effects of COVID-19, coupled with its impact on borrowers across the country, led them to extend the period.The FHA requires mortgage servicers to provide up to six months of COVID-19 forbearance when a homeowner requests this assistance, and up to an additional six months of forbearance for homeowners who request an extension of the initial forbearance. In effect, this means some borrowers may not exit this forbearance until the end of 2021.Following the main story, HousingWire covers a report from the Mortgage Bankers Association that claims mortgage applications fell six basis points this week, as well as the announcement of AmeriHome becoming the latest company to join the mortgage industry’s IPO boom. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: In a bid for stability, FHFA and FHA extend forbearance policies As mortgage rates climb, applications fall six basis points AmeriHome could be valued at $1.3B following IPO

Today’s Daily Download episode features an interview with HousingWire Lead Analyst Logan Mohtashami. In this episode, Mohtashami discusses his recent article, which explains what factors are likely to drive mortgage rates in 2021. Mohtashami’s article is part of our HW+ premium membership community. When you go to sign up, use the code “hwpluspodcast100” to get $100 off your annual membership. For some background on the story, here’s a snippet of the article: I’ve seen a number of articles lately predicting that mortgage rates will rise in 2021, a couple even from other HousingWire contributors. The rationale for these predictions have been erudite, multifactorial and complex. I am, on the other hand, a simple man. Most days I don’t even wear shoes. When I think about the direction of mortgage rates there is only one factor I consider – and that is economic growth.Over the years I have professed that the rate of economic growth pretty much explains the whole lasagna so that should be the entire focus. When the economy gets better, bond yields rise and mortgage rates follow. When the economy slows, bond yields drop and mortgage rates follow. I expect mortgage rates in 2021 to stick to the same pattern.The trick is to find a respectable range within each economic cycle. I started to incorporate bond yield forecasts for my yearly prediction articles and every year since 2015 I had said the same range. The 10-year yield would range between 1.60%-3%. In 2020, that range broke but continued a long-term downtrend in yields which started in 1981.Before the 10-year yield broke below 1% this year, I wrote this year that if the U.S. went into a recession the 10-year would trade between -0.21% – 0.62%. On the morning of March 9, the 10-year traded at 0.34%. Since that low point, the 10-year yield has been above 0.62% for most of the time during the COVID recession. This has been a consistent strong indicator for me, that, despite all the drama in various sectors, the bond market expected the economy to improve.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: What could drive mortgage rates in 2021? Mortgage Rates Average 30-year mortgage rate for purchase loans falls to another all-time low

Today’s Daily Download episode features an interview with Dan Hanson, the executive director of distributive retail at loanDepot. In this episode, Hanson discusses his history as a longtime leader in the mortgage industry. During the interview, Hanson explains how his interests in lending pivoted his career towards the industry, where he has spent numerous decades across several different mortgage cycles. “As you look back over the different decades, there always seems to be a couple of pivotal events that happen decade by decade that change the complexion of the mortgage space,” Hanson said. According to him, the COVID-19 pandemic is one of those events as he claims the housing market’s success in 2021 will depend on many variables that have been impacted by the virus’ spread, including housing inventory and interest rates. “I think we're in for a change in the pattern in which people choose where to live, and how they manage their real estate investment, which is their home in most cases,” Hanson said. “I think rates will stay low, so we'll have a positive environment there and I think equity and property will remain high, because inventories are low.” Hanson wraps the interview by discussing the IPO transformation currently happening in the mortgage space, even touching on loanDepot’s plans to go public at some point in 2020. Though it’s still nebulous when the company will officially move forward on their poised plans to take the company public, Hanson says its chairman Anthony [Hsieh] is talking about it and weighing options. “I think every company has different reasons for it, and I think when things are good, and it looks like there's going to be a positive low-interest rate environment for a period of time, I think people perceive that as a positive valuation for their company,” Hanson said. “And if it's an opportunity to go public, they're taking advantage of it.” The Daily Download examines the most compelling articles reported by the HousingWire newsroom team. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Will loanDepot finally file for IPO? Geoff Zimpfer and Sarah Wheeler on the IPO craze and the nation's forbearance rate loanDepot promotes Dan Hanson to chief retail production officer

In today’s Daily Download episode, HousingWire covers Guild Mortgage’s announcement that the company will be going public. For some background on the story, here’s a summary of the article: Add lender-servicer Guild Mortgage to the ranks of the nonbank mortgage lenders going public. According to an amended S-1 submitted to the Securities and Exchanges Commission on Thursday, Guild, through parent firm Guild Holdings, is expected to price its initial public offering between $17 and $19 per share as early as next week.The retail and correspondent lender plans to issue 8.5 million Class A shares (plus an option for the underwriters, Wells Fargo, BofA Securities, and JPMorgan Chase, to purchase 1.275 million additional shares). At the $18 midpoint, Guild Holdings would raise about $153 million. Because of the strength of Class B shares, owner McCarthy Partners Management will control 95% of voting rights despite owning just 21% of common stock. San Diego-headquartered Guild, led by Mary Ann McGarry, has made six acquisitions since 2007, which has helped increase its production dramatically. Between December 2007 and the year that ended June 30, origination volume grew annually from $1.4 billion to $27.8 billion, and servicing grew from $2.5 billion to $52.8 billion as of June 30, the lender said in its prospectus.Following the main story, HousingWire also covers a report from Redfin that claims homes in high-risk wildfire areas are more affordable than homes in low-risk areas and a new partnership between the Fair Housing Alliance and the LGBTQ+ Real Estate Alliance. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: Guild Mortgage is going public – Let’s look at the numbers Homes in high-risk wildfire areas are more affordable National Fair Housing Alliance partners with LGBTQ+ Real Estate Alliance

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss the growing number of mortgage companies entering the public arena and the nation’s latest forbearance numbers. For some background on the interview, here’s a brief summary of HousingWire’s latest article on Blackstone-owned lender and servicer Finance of America becoming the latest company to to join the IPO craze: End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze.The lender and servicer, owned by the Blackstone Group’s Tactical Opportunities business, is slated to go public in the first half of 2021 through a special purpose acquisition company at a $1.9 billion valuation. After it merges with Replay Acquisition Company, Finance of America will receive a $250 million investment from institutional investors, according to the Wall Street Journal, which first reported the merger. Blackstone will own 70% of the company, which is expected to go public in the first half of 2021.Finance of America says its collection of companies has originated over $65 billion in loans since 2017. Its products include traditional mortgages, commercial real estate loans, reverse mortgages, fixed-income investing and title services. Blackstone has expanded its Finance of America corporation through a number of acquisitions in recent years, including pickups of Gateway Funding, Pinnacle Capital Mortgage and Skyline Home Loans.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Blackstone-owned lender and servicer Finance of America to go public Caliber Home Loans plans $2B-plus IPO After record fall of 18%, forbearances rose slightly last week United Wholesale Mortgage plans $16B public debut via acquisition

In today’s Daily Download episode, HousingWire covers a report from United Wholesale Mortgage that shows record loan volume for the third quarter of 2020. For some background on the story, here’s a summary of the article: Just one quarter away from its expected public debut, United Wholesale Mortgage reported record loan volume in the third quarter.The Detroit-based company, the largest wholesale lender in the U.S., originated $54.2 billion in closed loans during the third quarter, an 81% increase from the $29.9 billion it originated in Q3 2019 (loan volume was up 31.8% from Q2 2020). To date, UWM has closed nearly $128 billion in production this year, eclipsing the $108 billion it originated throughout all of 2019, the firm said."This is our best quarter in the company’s 34 years, showing that borrowers are recognizing that independent mortgage brokers offer better rates, greater speed and deeper experience,” UWM CEO Mat Ishbia said in a statement.According to company statements, net income totaled $1.45 billion in the third quarter, up from $198 million during the same period in 2019. The gain-on-sale margin also inched up to a record 3.18%; a year ago it was 1.29%.Following the main story, HousingWire discusses the average U.S. mortgage rate for a 30-year fixed loan falling to 2.81% this week and a report from Redfin that indicates luxury home sales rose 41.5% in the third quarter, the largest increase since 2013. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: Ahead of its big IPO, UWM reports record volume and margins Average 30-year mortgage rate falls to another all-time low Luxury home sales rise 41.5%, making biggest jump since 2013

In today’s Daily Download episode, HousingWire covers how Wells Fargo and Bank of America performed in the third quarter of 2020. For some background on the story, here’s a summary of the article: Though its earnings were disappointing overall, residential lending at Wells Fargo rebounded in the third quarter, both in terms of income and origination volume. The bank originated $62 billion in home loans during the third quarter, up 5% from $59 billion in the prior quarter. In the third quarter of 2019, Wells Fargo originated $58 billion in mortgages.In all, Wells Fargo collected $1.6 billion in income from its residential lending operation, up from $317 million in the prior quarter. Even net servicing income checked in at $341 million, up from a loss of $689 million in Q2. Its rival Bank of America posted a $2.1 billion profit in the third quarter in its consumer banking division, up massively from the paltry $71 million profit in the second quarter, mortgage origination volume was down dramatically.Mortgage originations from the bank totaled $13.4 billion in the third quarter, a drop from $23.1 billion in the second quarter and far below the roughly $20 billion benchmark hit in the fourth quarter of 2019.Following the main story, HousingWire covers JP Morgan Chase as the company recently revealed its mortgage business is getting back to normal following disruptions caused by COVID-19 and the Mortgage Bankers Association’s weekly mortgage applications survey which shows a slight drop in applications despite declines in rates. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: How did Wells Fargo and Bank of America’s mortgage businesses perform in the third quarter? Mortgage applications see slight decline despite 3% mortgage rate JPMorgan Chase’s mortgage business getting back to normal

In today’s Daily Download episode, HousingWire discusses what several industry veterans believe the mortgage industry will look like in 2021. For some background on the story, here’s a summary of the article: As the election creeps ever closer, there are plenty of forecasts about how it could impact housing. HousingWire has reported on both the fate of the GSEs and the nation’s economic outlook as a red vs blue battle stirs in Washington. But what about the regulatory bodies that will decide the priorities for enforcement over the next four years?At the HousingWire Annual panel, industry veterans Ed DeMarco, president of the Housing Policy Council, Kris Kully, partner at Mayer Brown, and Richard Andreano, Jr., partner at Ballard Spahr, discussed the future of regulation and enforcement as the industry gears up to run headlong into 2021. Julian Hebron, founder of The Basis Point, moderated the panel.The most notable topic of discussion was the Consumer Financial Protection Bureau’s recent rescinding of a 2015 compliance bulletin related to marketing services agreements (MSAs), which the bureau said “does not provide the regulatory clarity needed on how to comply with RESPA and Regulation X.” Alongside the rescinding, the CFPB released an FAQ for guidance on the Real Estate Settlement Procedure Act (RESPA), which many companies have been accused of violating over the years – though several of those cases were thrown out.Following the main story, HousingWire an announcement that lender and servicer Finance of America Capital is slated to go public in the first half of 2021 and discusses Offerpad’s partnership with Aires to streamline the relocation process. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham. HousingWire articles covered in this episode: What will mortgage regulation and enforcement look like in 2021? Blackstone-owned lender and servicer Finance of America to go public

In today’s Daily Download episode, HousingWire covers Fannie Mae’s Doug Duncan’s economic predictions for 2021. For some background on the story, here’s a summary of the article: Doug Duncan doesn’t claim to be an oracle, but the Fannie Mae Senior Vice President and Chief Economist on Thursday offered some forecasts for 2021, even amid a pandemic that has thrown markets into disarray. The country is mired in a recession, and while the CARES Act provided a short-term jolt to the economy, much remains uncertain about COVID-19 and its ultimate impact on the U.S. economy and the housing market, he said. “At the end of 2019, we were at 3.5% unemployment,” Duncan told attendees at HousingWire Annual on Thursday. “We think at the end of 2021, it will be roughly double that, around 6%.” There are promising signs of a partial recovery, according to Duncan. During the second quarter of 2020, approximately $1.7 trillion in national income was lost. By the time the full data is made available for the third quarter, Duncan estimates that about $1.2 trillion will have been recaptured. Following the main story, HousingWire covers a new scoring model from FormFree that aims to pave the way to more finical inclusion and a report from Redfin that indicates home prices rose by record numbers on the week ending on Oct. 4. The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: Fannie Mae’s Doug Duncan offers his predictions for 2021 ATP scoring paves new path to financial inclusion Home prices rose by record numbers last week