HousingWire Daily

In today’s Daily Download episode, HousingWire covers speculation on whether not the Federal Housing Finance Agency is delaying the implementation of a fee that would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac. For some background on the story, here’s a summary of the article: According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept. 1. According to the article, the FHFA is considering a delay to the adverse market fee implementation date, but is not planning to rescind it. The FHFA has been widely criticized both for the reasoning given for the fee and the short three-week notice to lenders and homeowners already in the middle of a refinance process.Dave Stevens, former president and CEO of the Mortgage Bankers Association and former commissioner of the Federal Housing Administration, told HousingWire on Saturday that, “If true, it seems clear that Director Calabria listened to industry concerns about the impact of this short time frame to implement. And while the logic of the fee remains in question, this is a good sign and hopefully will lead to a change in behavior going forward where impact assessment conversations can take place prior to major policy announcements.”Following the main story, HousingWire covers an announcement from the Federal Reserve that it has purchased about $892 billion of agency mortgage-backed securities, and a claim from a research associate at the Urban Institute that there’s a problem with the data measuring delinquency and forbearance requests. 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: Is the FHFA about to delay the refi fee? Fed purchases of agency MBS total $892 billion There’s a problem with the data measuring delinquency and forbearance

Today’s Daily Download episode features an interview with Jarred Kessler, Co-Founder and CEO of real estate tech company EasyKnock. In this episode, Kessler speaks with HousingWire about the U.S. real estate market and weighs in on whether or not it's likely to experience another dip. During the interview, Kessler delves into how the COVID-19 pandemic has transformed the housing industry and what trends he’s watching in the real estate market. "The housing market was acting particularly healthy between the months of March to June, and you're starting to see less support or backstop from the government,” Kessler said. “I think you're going to see a major shift from inventory being scarce to people starting to panic and the housing market starting to really soften up, especially in urban areas where people are leaving to get more space and lower tax areas.” The EasyKnock CEO also discusses the current state of the housing industry and its increase in supply and demand, and shares his thoughts on whether it will continue to grow or ease up. "I think [homebuyer demand] can continue to go up in the short term, but I just don’t think it’s sustainable,” Kessler said. “There’s too much damage in the economy in the underbelly right now, to where I believe it will eventually trickle into the real estate market.” 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: Can the housing market withstand the coronavirus? Sales of new houses jump to a 13-year high Sales of higher-priced properties drive California median home price to new high in July New home construction shoots up 22.6% in July COVID-19 changed women's attraction to homeownership Are cities really seeing an exodus? Zillow says urban areas have more in common with suburbs than you think

In today’s Daily Download episode, HousingWire covers Realtor.com’s newly released list of 2020’s hottest housing markets according to zip code. For some background on the story, here’s a summary of the article: Compared to last year, the housing market this year has seen some big changes. Notably, people are moving inland from the large cities as the pandemic has created a coastal exodus, prompting apartment dwellers to seek more space and big yards.Realtor.com released its hottest ZIP codes of 2020 report on Tuesday, which revealed that more towns in the Northeast made the list than last year.“The hottest zip codes have bucked the national trend of a housing market slowdown during the COVID-19 pandemic,” Danielle Hale, realtor.com’s chief economist said in the report.“Even during the pandemic, homes in the hottest markets were selling at a blistering pace, with the median days on market in all of the top neighborhoods being under a month,” Hale said. “Likewise, all of the hottest zip codes saw demand increase, with rising views per property on realtor.com compared to last year.”Following the main story, HousingWire covers an article that discusses the launch of the new builder review feature on Zillow, as well as Freddie Mac’s Weekly Primary Mortgage Market survey that indicates this week's mortgage rates rose on risk assessment. 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: Here are 2020's hottest housing markets according to ZIP code Zillow launches consumer-generated builder review feature US mortgage rates rise on risk assessment

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss forbearance reporting, housing inventory and home prices. For some background on the interview, here’s a brief summary of HousingWire’s latest article on forbearance rates: The forbearance rate for mortgages backed by Fannie Mae and Freddie Mac dropped to 4.94% in the first week of August, the first time it’s been below 5% since April, the Mortgage Bankers Association said in a report on Monday.The rate for mortgages backed by government-sponsored enterprises, or GSEs, fell 25 basis points from the prior week, according to the report.Overall, the forbearance rate fell 23 basis points from the prior week to 7.21%, representing 3.6 million mortgages, MBA said.“Borrowers with conventional mortgages have been faring somewhat better throughout the current crisis, and there is no sign to date from these data that the risk to the GSEs is increasing,” said Mike Fratantoni, MBA’s chief economist.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: Fannie Mae, Freddie Mac forbearance rate drops below 5% Low mortgage rates and low inventory resulted in more bidding wars in July, Redfin says When it comes to home sales, August is the new May, keeping agents busy into the fall

In today’s Daily Download episode, HousingWire covers a report from the Mortgage Bankers Association that indicates the forbearance rate for mortgages backed by Fannie Mae and Freddie Mac have dropped below 5%. For some background on the story, here’s a summary of the article: The forbearance rate for mortgages backed by Fannie Mae and Freddie Mac dropped to 4.94% in the first week of August, the first time it’s been below 5% since April, the Mortgage Bankers Association said in a report on Monday.The rate for mortgages backed by government-sponsored enterprises, or GSEs, fell 25 basis points from the prior week, according to the report.Overall, the forbearance rate fell 23 basis points from the prior week to 7.21%, representing 3.6 million mortgages, MBA said. The forbearance share for loans in Ginnie Mae securities – meaning, mortgages backed by the Federal Housing Administration, the Veterans Administration, and the U.S. Department of Agriculture – fell 52 basis points to 9.54%, though some of that decline stems from delinquent loans being sold off and reported in the private portfolio category, the report said. Following the main story, HousingWire covers a study from Redfin that suggests new interest from city dwellers is raising home prices in rural areas and a joint report from the National Association of Home Builders and Wells Fargo that claims America’s western region is showing the most promise as builder confidence returned to a record high across the country. 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: Fannie Mae, Freddie Mac forbearance rate drops below 5% New interest from city dwellers raising home prices in rural areas The West showing the most promise as builder confidence returns to record high

On today’s episode, HousingWire Editor at Large Kathleen Howley is here to discuss her recent HW+ article on Fannie Mae and Freddie Mac’s announcement last Wednesday to impose a 0.5% fee on refinance mortgages, and how this decision could become an election issue. For some background on the story, here’s a summary of the article: Fannie Mae and Freddie Mac, the two largest mortgage financiers in the world, on Wednesday night announced they would impose a 0.5% fee on every refinanced mortgage starting Sept. 1. Look for it to become an issue in the campaign.The new fee “exposes President Trump to charges that he is trying to tax housing at the height of the economic crisis,” said Jaret Seiberg, managing director of Cowen Group, a Washington D.C. research firm. “That is a political liability for the president. We expect Democrats will exploit this.”For borrowers refinancing their mortgages, the new fee probably will cost them about $1,400 per loan, according to the Mortgage Bankers Association. That’s money that could have gone toward bolstering the economy in the form of consumer spending, which accounts for about 70% of the nation’s GDP.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: Fannie, Freddie fee hike may become an election issue New fee on mortgage refinances could cost homeowners $1,400

In today’s Daily Download episode, Mark Watson, chief analytics officer at iEmergent, speaks with HousingWire’s Junior Digital Producer Victoria Wickham about the newly released 2020-2024 U.S Total Mortgage Volume Forecast. iEmergent’s forecast projects this year’s total residential mortgage lending could reach as high as $3.21 trillion, primarily driven by a refinance market that could also reach as high as $2.26 trillion. Watson said one reason behind the refinance volume is low mortgage interest rates. "The cost of getting a mortgage now is as cheapest it's ever been," Watson said. "We think that everybody is going to adjust to this new normal and next year should should be back on an upward trajectory." Watson also discusses the biggest factors impacting the purchase and refinance market and shares one major concern over the health of the housing market from potential problems arising due to mortgage payment forbearances. If borrowers end up defaulting and having to go into foreclosure, it "presents a real problem for the entire housing market,” he said. According to the latest report from the Mortgage Bankers Association, approximately 4.2 million homeowners are now in forbearance. Closing out the interview, Watson said, "We still have a situation where the inventory of homes available for sale is still very tight, but for potential homebuyers that find a home that they like and that they can afford, now it's certainly a great time to buy." The Daily Download examines the most compelling articles reported from 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.

Today’s Daily Download episode features an interview with Bob Broeksmit, president and CEO of the Mortgage Bankers Association. Broeksmit discusses the Federal Housing Finance Agency’s recent decision to implement a new fee on mortgage refinances, a decision that was made without prior counsel from the MBA. “[This] puts into effect a massive price increase with virtually no notice, meaning that hundreds of millions of dollars will be taken from the pockets of lenders who cannot pass along this unanticipated cost and worse, consumers will be on the hook for billions starting today when everybody's costs went up by half a point,” Broeksmit said. “It's outrageous and unprecedented.” The announcement, released at the end of the day on Wednesday, stated that refinance mortgage loans sold to Fannie Mae and Freddie Mac after Sept. 1 will include a new adverse-market refinance fee of 0.5%. This fee will be assessed for both cash-out and no-cash-out refinances, and it could cost homeowner’s $1,400, a move Broeksmit said is disturbing beyond belief. “At a time when the country is reeling economically, and the government is trying to provide relief and stimulus to this shaken economy,” Broeksmit said. “To grab $1,400 dollars per loan on low-risk refinances at Fannie Mae and Freddie Mac is disturbing beyond belief.” 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 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: New fee on mortgage refinances could cost homeowners $1,400

Today’s Daily Download episode features an interview with Maurice Jourdain-Earl, Co-Founder and Managing Director of Compliance Tech. In this episode, Maurice discusses his LinkedIn article that tackles the COVID-19 forbearance mortarium, in which he says enlarges the wound caused by a lack of black homeownership in America. Jourdain-Earl explains why he believes Section 4022 of the CARES Actwill have a disparate impact on black Americans and shares what HMDA data reveals about racial disparities regarding federally backed mortgage loans. According to him, as the vast majority of black Americans are renters, programs intended to aid homeowners will largely benefit white America, which he says will further the homeownership gap. “I believe there is power in data, and one of the reasons I wrote this particular piece was to provide some exposure and touch on how the CARES Act can be executed in a way that the [overall] public can benefit,” he said. “I also believe the use of this data can bring about a greater sense of knowledge on the dual mortgage market that we have in America that is separate and unequal.” Notably, Jourdain-Earl also discusses mortgage data from ComplianceTech, that he says reveals racial disparities regarding the lending patterns of federally backed mortgage loans. “The bottom line is this, if you are black in America, you are more than three times likely to get a government loan than a conventional loan, and data is beginning to show that lenders that do not originate a large share of government loans are more likely to have a redlining profile,” he said. The Daily Download examines the most compelling articles reported from 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: · FHA extends foreclosure and eviction moratorium again · HMDA data presents sobering picture of Black homeownership in 2019 · [PULSE] Housing discrimination: It's real and not just a tweet · HUD allocates $472 million of CARES Act funding for low-income households

Today’s Daily Download episode features an interview with the National Association of Real Estate Brokers President Donnell Williams about the termination of the Obama-era AFFH fair housing rule. According to Williams, the termination will have a negative impact on fair housing as it will leave many Americans vulnerable to housing discrimination. “This will have a negative impact on fair housing, and it’s actually pretty horrible that the rule was rescinded as we were just starting to make headway in housing discrimination,” Williams said. “I mean, it takes time to have an impact, and the termination of the rule basically creates an atmosphere of fear. It set us back quite a bit, to be honest.” When talking about President Donald Trump’s tweets regarding the termination, which ignited uproar from the housing industry as many perceived them to be prejudice, Donell said they were inherently offensive and stroked the flames of racism. “I think they are dog whistles and are at its core racist. Without a doubt, it’s sending a [certain] message to some folks that is causing fear. It's just crazy talk,” Williams said. “I mean, you've got bad apples on both sides. So, to label everyone is really not a good thing.” “It’s a good thing to have integrated neighborhoods. If people can afford to live or build in a certain area, they shouldn't be condemned,” Donnell said.” If [Trump] continues to stroke the fire, it could lead to neighbors becoming upset and having a misconception behind the purpose of fair housing.” The Daily Download examines the most compelling articles reported from 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: · HUD to abolish Obama-era AFFH fair housing rule · NAREB town hall: Here are strategies to improve Black homeownership · NAR comes out strong against AFFH fair housing rule termination · Julian Castro on Trump’s AFFH tweet: “It’s a naked ploy to drum up racial fears and white resentment”

Today’s Daily Download episode features an interview with Walter Huff, who is the Owner and CEO of The Huff Real Estate Team at Keller Williams. In this episode, Huff explains how the growing number of seniors aging in place will impact America's housing supply. During the interview, Huff also touches on how the COVID-19 pandemic may lead to an uptick in multigenerational households as the unemployment rate continues to hover near record lows. According to Huff, one of the major benefits of being a part of a multi-generational living combination is shared expenses and as COVID-19 continues to affect the wages of Americans across the country, saving may be more important than ever. “By bringing in family members and resources together under one roof, families can collectively address their expenses, allocate their finances accordingly, and save even more,” Huff said. “The family household will forever be changed thanks to COVID-19 and I'm waiting to see a study of how that will impact family formations moving forward.” The Daily Download examines the most compelling articles reported from 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. HousingWire articles covered in this episode: Here’s why there aren’t enough homes to buy right now Jobless claims fell to 1.2 million last week Survey: Half of Boomer homeowners plan to age in place Freddie Mac: Seniors are causing the housing shortage

In today’s Daily Download episode, HousingWire covers an announcement that an announcement from Ellie Mae that it has entered a definitive agreement to be acquired by Intercontinental Exchange for approximately $11 billion. For some background on the story, here’s a summary of the article: Ellie Mae announced Thursday it entered a definitive agreement to be acquired by Intercontinental Exchange for approximately $11 billion. The move comes 15 months after Thoma Bravo, a private equity investment firm, announced it would acquire Ellie Mae in an all-cash transaction of $3.7 billion.“We are excited to be joining the Intercontinental Exchange family and having the opportunity to work closely with Simplifile and MERS in helping our industry to realize the true digital mortgage,” said Jonathan Corr, president and CEO of Ellie Mae. “We have been on a journey, as we have long said, ‘to automate everything automatable’ for the mortgage industry, and joining ICE, which has followed a parallel journey in global exchanges, will allow us to further accelerate realizing our vision.”ICE’s decision to acquire Ellie Mae follows the company’s actions over the last four years to strengthen its hold in the residential mortgage industry. Following the main story, HousingWire covers Freddie Mac’s Primary Mortgage Market Survey that shows mortgage rates fell to new record lows this week, and an $80 million fine assessed to Capital One for its cybersecurity and risk management practices. 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: Intercontinental Exchange to acquire Ellie Mae from Thoma Bravo for $11 billion Mortgage rates tumble to new record lows this week The OCC slaps Capital One with $80M fine over cybersecurity, risk management practices

In today’s Daily Download episode, HousingWire covers an announcement that the Federal Reserve may abandon its longtime strategy of using its benchmark rate to pre-emptively prevent inflation from rising above its 2% target, which could lead to an end of rock-bottom mortgage rates. For some background on the story, here’s a summary of the article: Fed Chairman Jerome Powell said at a news conference last week that the central bank was close to wrapping up a review of its policy-making strategy that began in 2019. The results will be announced “in the near future,” Powell said.If the Fed allows inflation to rise above its current 2% target, it would put upward pressure on mortgage rates because investors who buy fixed assets use inflation as the mainstay of their calculation that determines the yield, or return, they are willing to accept.Because higher inflation eats into bond yields, investors demand a higher return for the mortgage-backed securities and other bonds they buy in when inflation is rising. That also boosts yields on Treasuries, which are used as a benchmark for MBS investors.Currently, the problem facing the Fed is sub-target inflation, as the COVID-19 pandemic curbs the consumer spending that accounts for about 70% of America’s GDP. In June, the so-called “core PCE,” the Fed’s preferred inflation gauge that measures consumer prices without volatile food and energy costs, rose 0.95% from a year earlier.Following the main story, HousingWire covers an article that claims whatever plan Congress comes up with to extend or replace the extra $600 a week in beefed-up jobless benefits is likely to be retroactive, and an article that asks, in a virtual learning world, do you still need to buy a house in a good school district? 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: Fed inflation plan could end rock-bottom mortgage rates Whatever jobless aid Congress comes up with, it’s likely to be retroactive In a virtual learning world, do you still need to buy a house in a good school district?

Today’s Daily Download episode features an interview with Rogers Healy, the owner, and CEO of Rogers Healy and Associates. In this episode, Healy explains how the COVID-19 pandemic has transformed the real estate industry as well as its impact on homeowners and homebuyers. During the interview, Healy also touches on how low mortgage rates have contributed to an uptick in demand, which has created an inventory shortagethat has intensified homebuying competition. According to Healy, thriving housing markets like Dallas, Austin and Spokane, Washington are experiencing such a boom, that they can only be compared to the Wild Wild West. “I've never seen it this busy and I’ve never worked this much, and I'm not even talking from an ownership perspective, but just from being a realtor as well,” Healy said. “I've been through a bad cycle where you just kind of wait for the bottom to fall out, but this time it makes complete sense.” “We're seeing competitive offer situations like we did back in 2007. It's extremely busy, especially in markets like Austin, Charlotte, DFW and you know, Spokane, Washington, which are like junior versions of LA, New York, Chicago and Miami,” he said. “It's been crazy. It's the Wild Wild West right now.” The Daily Download examines the most compelling articles reported from 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. HousingWire articles covered in this episode: · Making sense of ultra-low mortgage rates · Driven by low inventory, median U.S. home price reaches record high in July · 42% of people who bought homes during the pandemic engaged in a bidding war

In today’s Daily Download episode, HousingWire covers a letter from the Council of Large Public Housing Authorities addressed to the Department of Housing and Urban Development Secretary Ben Carson, expressing opposition to the termination of the AFFH rule. For some background on the story, here’s a summary of the article: In a joint letter on Monday addressed to Department of Housing and Urban Development Secretary Ben Carson, the Council of Large Public Housing Authorities and its counsel Reno and Cavanaugh expressed opposition to the the actions of the Trump administration regarding the Affirmatively Furthering Fair Housing rule, asking the organization to “withdraw its racist and illegal attempt to eliminate the rule.”The 2015 Obama-era rule and provision of the 1968 Fair Housing Act was eliminated July 23 by HUD and the Trump administration. The rule originally required cities and towns that received federal funding to examine local housing patterns for racial bias and design a plan to address any measurable discrimination.The CLPHA said they were deeply disturbed by an excerpt in a release from Carson that said after reviewing thousands of comments on the proposed changes to the rule, “we found it to be unworkable and ultimately a waste of time for localities to comply with.”In the letter, CLPHA said it was the responsibility of HUD to administer the Fair Housing Act and further fair housing — stating the obligation to do so is an “integral tool to address historic discrimination” in the industry.Following the main story, HousingWire covers an announcement from Zillow that it has resumed its iBuying efforts in all operating markets and a forecast from a Federal Reserve official that claims the nation needs to lockdown again to see robust economic activity. 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: CLPHA and others voice opposition to elimination of AFFH rule and reject its new substitute Zillow Offers resumes buying houses in all operating markets Fed official says lock down now or see sluggish recovery

In today’s Daily Download episode, HousingWire covers an exclusive interview between HousingWire’s Editor-in-chief Sarah Wheeler and former Department of Housing and Urban Development Secretary Julian Castro about the Trump administration’s termination of the AFFH fair housing rule. For some background on the story, here’s a summary of the article: In the week since the Affirmatively Furthering Fair Housing Act was abolished, both HUD Secretary Ben Carson and President Donald Trump have commented officially and through social media about their reasons for abolishing the rule. Last Wednesday, President Donald Trump tweeted: “I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood… Your housing prices will go up based on the market, and crime will go down. I have rescinded the Obama-Biden AFFH Rule. Enjoy!”President Trump’s tweet on Wednesday ignited heated reactions from both sides of the fence. HousingWire’s Editor-in-chief Sarah Wheeler sat down with Julian Castro, HUD Secretary under Obama from 2014-2017 — to talk about the AFFH and what future he sees for it.According to Castro, Trump’s comments are a naked ploy to drum up racial fears about people of color before an election that he knows he may lose. Following the main story, HousingWire covers a report from Black Knight about the mortgage forbearance rate dropping to a three-month low and an announcement from the nation’s biggest purchase mortgage lender about dropping its rates to 1.875% 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: Julian Castro on Trump’s AFFH tweet: “It’s a naked ploy to drum up racial fears and white resentment” Mortgage forbearance rate drops to a three-month low UWM now offering 15-year fixed mortgage rates as low as 1.875%</

In today’s Daily Download episode, HousingWire covers the National Association of Realtors’ expressed disappointment in the termination of the AFFH fair housing rule. For some background on the story, here’s a summary of the article: On Wednesday, President Donald Trump tweeted about his administration’s actions in abolishing the Obama-era AFFH fair housing rule – a move which we covered on July 23.In his tweet, President Trump wrote (among other things): “I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low-income housing built in your neighborhood… Your housing prices will go up based on the market, and crime will go down. I have rescinded the Obama-Biden AFFH Rule. Enjoy!”President Trump’s tweet on Wednesday ignited heated reactions from both sides of the fence. We reached out to industry organizations to get their perspectives on the administration’s actions.The National Association of Realtors came out strong on Wednesday, expressing its disappointment that HUD was “retreating” on its decades-long policy requiring that communities receiving taxpayer money address discrimination and segregation. Following the main story, HousingWire covers Fannie Mae’s earnings falling in the second quarter of 2020 and a new partnership between Zillow and homebuilder D.R. Horton. 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: NAR comes out strong against AFFH fair housing rule termination Fannie Mae Q2 earnings fell as fee revenue declined Zillow announces partnership with homebuilder D.R. Horton

In today’s Daily Download episode, HousingWire covers the Federal Reserve’s prediction that the fate of the U.S. economy will depend on successful management of the coronavirus pandemic. For some background on the story, here’s a summary of the article: The future of the U.S. economy depends on how well the coronavirus pandemic is controlled, the Federal Reserve’s rate-setting committee said on Wednesday. That’s not good news for a nation that leads the world in COVID-19 infections and deaths.“The coronavirus outbreak is causing tremendous human and economic hardship,” the Fed statement said. “The path of the economy will depend significantly on the course of the virus.”The statement came shortly after the U.S. broke the 150,000 threshold for deaths from COVID-19, as measured by Johns Hopkins University. The U.S. has about 4.2% of the world’s population and has recorded 23% of COVID-19 fatalities. The No. 2 nation for pandemic deaths is Brazil at 88,539, according to the Johns Hopkins data. The way forward for a U.S. recovery is “extraordinarily uncertain,” Fed Chairman Jerome Powell said in a video-call press conference with reporters after the release of the statement.Following the main story, HousingWire covers the difference between the HEROES and HEALS Act and a report from the Census Bureau that indicates the U.S. homeownership rate climbed to a 12-year high in the second quarter of 2020. 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: Fate of the economy depends on virus control, Fed says HEROES vs HEALS Act and what they would mean for housing S. homeownership rate soars to an almost 12-year high

In today’s Daily Download episode, HousingWire covers a report from the Mortgage Bankers Association that indicates loans in forbearance have fallen for the sixth consecutive week. For some background on the story, here’s a summary of the article: The total number of loans in forbearance fell for the sixth week in a row to 7.74% of servicers’ portfolio volume, according to a report by the Mortgage Bankers Association. As the country braces for the end of moratoriums and unemployment benefits under the CARES Act, the MBA estimates 3.9 million homeowners are in forbearance plans.The share of mortgages in forbearance backed by Fannie Mae and Freddie Mac dropped for the seventh week in a row to 5.59% – another three-month low for the GSE’s.According to the report, the pace of borrowers exiting forbearance slowed last week as homeowners wait for deliberation of the HEROES Act, which would grant a 60-day mortgage forbearance automatically if their mortgage became 60 days delinquent between March 13 and the day the bill was enacted.Despite falling 30 basis points the week prior, Ginnie Mae securities – mortgages backed by the Federal Housing Administration, the Veterans Administration, and the U.S. Department of Agriculture – rose slightly by 1 basis point last week to 10.27%.Following the main story, HousingWire covers an announcement that the Senate has confirmed Dana Wade as the new Federal Housing Administration commissioner, and MBA’s weekly mortgage applications survey that shows mortgage applications fell 0.8% last week. 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: Loans in forbearance fall for the sixth straight week Senate confirms Dana Wade as new FHA commissioner Mortgage applications remain steady amid continued economic stress

In today’s Daily Download episode, HousingWire covers Fannie Mae’s endorsement from CICERO Shades of Green for its single-family homes. For some background on the story, here’s a summary of the article: Fannie Mae, the largest issuer of green bonds in the world, said on Monday it received an endorsement from CICERO Shades of Green for its mortgage-backed securities that are the first containing loans backed by single-family homes that are energy efficient. Fannie Mae has issued over $40 million of the MBS since the first bond was created on April 22 to commemorate the 50th anniversary of Earth Day, the company said in a statement. The bonds contain mortgages backed by newly constructed single-family homes with ENERGY STAR certification. On average, the homes backing the loans in the MBS are 20% more efficient than single-family homes built to code, Fannie Mae said. CICERO is a global provider of green ratings for bonds. “We’ve heard from investors that there is greater demand than there ever has been for investments that are socially responsible,” said Renee Schultz, Fannie Mae’s senior vice president of capital markets. In the multifamily market, Fannie Mae has issued $75 billion of green MBS since 2012 backed by either green-certified properties or properties targeting a reduction in energy or water consumption, the company said.Following the main story, HousingWire covers a report from Zillow that claims multifamily households will be hit hardest by the loss of CARES Act unemployment benefits, and an outlook on how the HEROES Act could help the nation’s renters and homeowners. 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 gets CICERO certification for its single-family green bonds Renter households will be hardest hit by loss of CARES Act unemployment benefits Here’s how the HEROES Act could help renters and homeowners

In today’s Daily Download episode, HousingWire covers Tesla’s plans to build a $1.1 billion factory in Austin, Texas. For some background on the story, here’s a summary of the article: Electric car giant Tesla unveiled plans this week to build a $1.1 billion factory in Austin. Rumors had swirled for months prior that it might be happening, but this week, the news became official.In building the factory on some 2,100 acres, Tesla has said it could hire 5,000 people over time.The news follows 2018 and 2019 announcements by tech giants Apple and Google that they too plan to hire thousands of people in the Austin area in coming years. While the jobs created by Tesla will definitely only fuel the city’s economic boom (Austin has ranked on numerous lists in recent times, including coming in at No. 3 on the Milken Institute’sBest-Performing Cities 2020 report), they will come at a lower salary than those created by the likes of Apple and Google. According to the Austin Business Journal, the factory could employ about 5,000 workers with an average annual salary of $47,147 and a median salary of $68,303.Still, the new factory combined with a continued influx of people moving from both coasts – which has only reportedly increased in the wake of the COVID-19 pandemic– will no doubt lead to an even tighter housing market. And while Austin’s median home price may be significantly lower than say, New York or San Francisco, it’s been on such a rise that many have questioned whether the city remains affordable by Texas standards.Following the main story, HousingWire covers House Speaker Nancy Pelosi’s scathing critique of the Trump administration’s decision to overturn an Obama-era fair-housing rule, and a report from the Commerce Department that indicates sales of new houses jumped to a 13-year high in June. 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: News of $1.1 billion Tesla factory revs up already hot Austin housing market Pelosi calls out Trump’s repeal of Obama’s fair housing rule Sales of new houses jump to a 13-year high

In today’s Daily Download episode, HousingWire covers The Trump administration’s plan to abolish the Obama-era AFFH fair housing rule. For some background on the story, here’s a summary of the article: The Trump administration will terminate the Obama-era rule regarding the implementation of the Affirmatively Furthering Fair Housing, or AFFH, provision of the 1968 Fair Housing Act, according to Housing and Urban Development Secretary Ben Carson. In a press release issued on Thursday, Carson alleged the provision has proven “to be complicated, costly, and ineffective.”“After reviewing thousands of comments on the proposed changes to the Affirmatively Furthering Fair Housing (AFFH) regulation, we found it to be unworkable and ultimately a waste of time for localities to comply with, too often resulting in funds being steered away from communities that need them most,” said Secretary Carson in the release. “…Washington has no business dictating what is best to meet your local community’s unique needs.”The 2015 rule requires cities and towns that receive federal funding to examine local housing patterns for racial bias and design a plan to address any measurable bias. Following the main story, HousingWire covers a report from TransUnion that indicates the percentage of accounts in financial hardship began to level off in June, and a report from ATTOM Data Solutions that claims profits on home sales rose 16% in the second quarter of this year. 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: HUD to abolish Obama-era AFFH fair housing rule TransUnion: the percentage of accounts in financial hardship began to level off in June Seller’s market: Profits on home sales climb 16% in second quarter for a total ROI of 36%

In today’s Daily Download episode, HousingWire covers Freddie Mac’s latest Primary Mortgage Market Survey that shows an uptick in mortgage rates. For some background on the story, here’s a summary of the article: Mortgage interest rates rose from a record low this week, increasing above the 3% threshold, as a resurgence in COVID-19 infections in the U.S. caused lenders to worry about the jobs market.The average rate for a 30-year fixed mortgage is 3.01%, Freddie Mac said on Thursday, up from 2.98% last week, which marked the first time the rate fell below 3%. The 15-year rate averaged 2.54%, up from last week when it was 2.48%, the lowest in a data series going back almost 30 years, according to the mortgage financier.Mortgage rates rose as lenders reacted to news of record-setting COVID-19 infections in some of the nation’s biggest states. The resurgence of the pandemic caused jobless claims to rise this week for the first time since late March, the Labor Department said in a report on Thursday.“The concern is that the pause in economic activity will cause unemployment to remain elevated, which will lead to longer-term labor market distress,” said Sam Khater, Freddie Mac’s chief economist.Following the main story, HousingWire covers the National Association of Realtors announced support of the First Time Homebuyer Pandemic Savings Act and Realtor.com’s newly launched iBuying partnership site. 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: Mortgage rates rise on job-market concerns NAR lends support to First Time Homebuyer Pandemic Savings Act com launches new iBuying partnership site to show home sellers all their options

In today’s Daily Download episode, HousingWire covers a forecast from Fannie Mae’s Chief Economist Doug Duncan that projects mortgage lending is set to top $3 trillion this year. For some background on the story, here’s a summary of the article: Mortgage lending is set to reach $3.14 trillion this year, the highest since 2003, as the annual average rate for a 30-year fixed home loan falls to a record low of 3.2%, according to Doug Duncan, chief economist of Fannie Mae. Next year, rates are heading even lower, he said.In 2021, the annual average rate probably will fall to 2.8%, said Duncan, who spoke to HousingWire via a video conference call on Monday in an exclusive interview. That would be the lowest ever recorded.Duncan said his forecast is based on the open-ended commitment by the Federal Reserve to purchase $40 billion a month in mortgage-backed securities, coupled with the expectations that “margins” – meaning the difference in the yields for 10-year Treasury yield and mortgage bonds – will continue to shrink as the lending industry adjusts to doing business amid the COVID-19 pandemic. Mortgage rates are set by bond investors who decide what yield, or return on investment, they’re willing to accept. Market-watchers compare rates between long-term Treasuries and MBS to see what kind of “risk premium” lenders are adding, meaning a buffer to protect profits in case some loans go bad or other problems arise. Following the main story, HousingWire covers a report from The Mortgage Bankers Association that claims the forbearance rate has dropped to a 2-month low and a report from Unison that shows a direct correlation between a housing market’s performance and its economic resilience. 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: Mortgage lending set to top $3 trillion as mortgage rates tumble Forbearance rate drops to 2-month low Housing market performance directly correlates with economy’s resilience

Today’s Daily Download episode features an interview with Varci Media CEO Shondell Varcianna. In this episode, Varcianna explains why content strategy is important for mortgage and real estate companies as they try to reach more consumers. During the interview, Varcianna also discusses why companies in the housing space need to “bridge the gap” when educating customers. According to her, as more consumers rely on the internet for answers to their homebuying questions, financial institutions will need to reach them online. “While working on the inside [as a mortgage originator], I found that a lot of financial institutions have a lot of information inside, but that information doesn't always make it out to the public,” Varcianna said. “For example, a lot of homebuyers will ask questions in Facebook groups and on forums online. Sometimes they get answers from people who are real estate investors or people who have bought a few properties. But they're not usually from the experts.” Varcina says this discrepancy inspired her to create Varci Media as she believes that bridging the educational gap between consumers and housing companies will lead to more sales. “The content you provide to your audience needs to speak them. So, whether that be answering questions or solving problems online, you've got to know your audience extremely well so you're able to provide content that resonates with them,” Varcianna said. “Financial institutions need to be providing the answers to the questions consumers are searching on Google or social media, and that's where good content comes in.” To listen to the rest of the interview, make sure to catch today’s Daily Download episode! 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.

In today’s Daily Download episode, HousingWire covers a 10-year study by QuestSoft that reveals since 2019, the percentage of “Outstanding” ratings on Community Reinvestment Act performance evaluations has dropped across the board. For some background on the story, here’s a summary of the article: A 10-year study by QuestSoft revealed that since 2019, the percentage of “Outstanding” ratings on Community Reinvestment Act performance evaluations dropped across the board for large, intermediate and small institutions.However, the decline was greatest for large institutions, which saw a 10.4% drop, compared to a 2.32% drop for intermediate institutions and a 4.44% drop for small institutions.The 2010 to 2020 study reviewed 14,765 CRA performance evaluations on large, intermediate and small institution exams from the Federal Reserve Bank, Federal Deposit Insurance Corporation, Office of the Thrift Supervision and Office of the Comptroller of the Currency with recently appointed acting head, Brian Brooks.Even with their 10% drop, the report revealed large institutions were more than three times as likely to receive an “Outstanding” rating on CRA performance evaluations when compared to small institutions.Large institutions were also more than twice as likely to receive an “Outstanding” rating compared to intermediate institutions, though nearly 79% of large institutions received a “Satisfactory” rating.Following the main story, HousingWire covers a report from Ellie Mae that claims the average FICO score rose across the board in June and data from the U.S Census Bureau that indicates new home construction continued to recover from April’s five-year low in June. 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: It’s getting harder to get an “Outstanding” rating on CRA performance evaluation Average FICO scores rise across the board, according to Ellie Mae New home construction jumps 17.3% in June

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire columnist Logan Mohtashami discuss why the U.S. housing market is winning in spite of the COVID-19 pandemic’s economic impact. For some background on the interview, here’s a brief summary of Mohtashami’s latest HousingWire column: The U.S. economy started the year off in an expansionary mode. Retail sales were positive year over year, job openings were roughly at 7 million and the housing data for the first time in a long time started to outperform other sectors of the economy. Existing and new home sales hit cycle highs, purchase application data showed steady double-digit year over year growth and housing starts had almost 40% year over year growth in February. Then we were hit with COVID-19, and the fear of this virus along with the economic decline due to the stay-at-home orders whipped the housing bubble boys into a frenzy of crash calls.My long-standing core thesis has been that the housing market would have the weakest recovery from a crash in the years 2008 to 2019, but it would improve in years 2020-2024 because U.S. demographics would become favorable for housing. This is the time frame where we should see 1.5 million total housing starts and the purchase application index will get over 300. 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: It’s official: The U.S. won’t see a housing bubble crash anytime soon

In today’s Daily Download episode, HousingWire covers Freddie Mac’s weekly Primary Mortgage Market Survey that shows mortgage rates have now fallen below 3% for the first time ever. For some background on the story, here’s a summary of the article: The average mortgage rate fell to 2.98% this week, breaking the 3% threshold for the first time, as investors concerned about a resurgence of the COVID-19 pandemic fled to the safety of the bond markets and the Federal Reserve continued to scoop up securities backed by home loans.The average rate for a 30-year fixed mortgage fell to the lowest in almost five decades of data, down from 3.03% last week, Freddie Mac said in a statement Thursday. The average 15-year rate fell to 2.48%, the lowest in a data series going back almost 30 years, according to the mortgage financier. Mortgage rates have hit a series of new lows in recent weeks as investors poured money into U.S.-dollar-denominated bonds – mainly Treasuries and mortgage-backed securities. Money managers are reacting to a stream of bad news about the coronavirus pandemic, with some of the nation’s biggest states setting records for new infections this week.The Federal Reserve has continued to support the mortgage markets by purchasing about $4.5 billion a day of securities containing home loans packaged by Fannie Mae, Freddie Mac and Ginnie Mae.Following the main story, HousingWire covers a report from Buildfax that claims June’s construction activity experienced the greatest annual decline since 2015 and data from Clever that indicates 34% more homes sold within two weeks in June this year. 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: Average U.S. mortgage rate falls below 3% for the first time June’s new construction activity sees greatest year-over-year decline since 2015 34% more homes sold within two weeks in June this year

In today’s Daily Download episode, HousingWire covers a request from Quicken Loans and the National Association of Realtors for the Department of Housing and Urban Development to take a look at deeper causes of systemic discrimination. For some background on the story, here’s a summary of the article: In recent days, both Quicken Loans, the nation’s largest lender, and The National Association of Realtors, the nations’ largest trade organization, have called on the Department of Housing and Urban Development to withdraw its proposed rule to amend the HUD interpretation of the Fair Housing Act’s disparate impact standard.Bill Emerson, vice chairman of Quicken Loans, expressed his company’s concern about the impact of the proposed rule changes during the pandemic in a letter sent to HUD Deputy Secretary Brian Montgomery on Friday.“We recognize that the proposed changes are intended to clarify the use of disparate impact in housing discrimination cases. We agree that unclear rules in the housing and mortgage markets can, and often do, constrain lending and investment in the space, harming those the rules are intended to help. “However, legitimate concerns have been raised about how the proposed rule proposed would make it difficult to address some of the more challenging systemic issues of discrimination that the Fair Housing Act should be used to address,” the letter continues.Following the main story, HousingWire covers the Mortgage Bankers Association’s weekly mortgage applications survey and a survey from the Pew Research Center that claims young adults are more likely to have moved because of COVID-19. 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: Quicken and NAR ask HUD to withdraw proposed amendments to Fair Housing Act Mortgage applications increase 5% from last week Young adults are more likely to have moved because of COVID-19

In today’s Daily Download episode, HousingWire covers a report from the Mortgage Bankers Association that claims the share of mortgage loans in forbearance has fallen for the fourth consecutive week. For some background on the story, here’s a summary of the article: The share of mortgage loans in forbearance fell for the fourth week in a row to 8.18% according to the Mortgage Bankers Association’s Forbearance and Call Volume survey. The MBA approximates 4.2 million homeowners are now in forbearance. Broken down by investor type, Fannie Mae and Freddie Mac loans fell for the fifth week in a row to 6.07%, according to the report.Ginnie Mae mortgages – primarily backed by the Federal Housing Administration and the Veterans Administration – fell to 10.56%. As loans were brought out of Ginnie Mae pools and into bank portfolios, the share of portfolio loans and private-label securities in forbearance increased to 10.93%.“These buyouts enable servicers to stop advancing principal and interest payments, and to work with borrowers in the hope that they can begin paying again before they are re-securitized into Ginnie Mae pools,” said Mike Fratantoni, MBA’s senior vice president and chief economist.Following the main story, HousingWire covers data from Redfin that indicates more than half of home offers were in a bidding war in June and an announcement from Apple that it will spend $400 million this year to support affordable housing in California. 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: Redfin: Over half of home offers were in a bidding war in June Share of mortgage loans in forbearance falls for the fourth week in a row Apple spending $400 million to support affordable housing in California this year

In today’s Daily Download episode, HousingWire covers an announcement from the Federal Housing Administration that it has expanded its menu of loss mitigation options in succession with the U.S Department of Housing and Urban Development’s eviction prevention and stability toolkit. For some background on the story, here’s a summary of the article: The Federal Housing Administration announced on Wednesday an expanded menu of its loss mitigation options in succession with the U.S Department of Housing and Urban Development’s eviction prevention and stability toolkit in an effort to help homeowners avoid foreclosure. The FHA’s loss mitigation options employ a “waterfall method” to assess a homeowner’s eligibility if they do not qualify for its COVID-19 National Emergency Standalone Partial Claim. FHA compared the waterfall method to that of a filter, meaning when homeowners fail to meet the qualifications of servicing interventions they are moved down the waterfall of options as servicers attempt to get the borrower into a sustainable mortgage payment.“Due to the fact that servicers are facing an unprecedented number of loss mitigation actions on the backside of this, we want to make it as easy for them as possible to get borrowers in a feasible situation on the other side of forbearance,” said a HUD official.Following the main story, HousingWire covers plans by Wells Fargo to loosen its jumbo lending requirements for current customers and a report that claims apartment vacancies in New York have reached record-high levels as more people migrate to rural areas and larger living spaces. 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: FHA employs “waterfall method” to expand home retention measures Wells Fargo loosens jumbo lending requirements for current customers New York City apartment vacancy rates reach record highs

Today’s Daily Download episode features two change agents at the Quicken Loans and the Rock Family of Companies who are not only making an impact in our industry but in the nation for their work on diversity, inclusion and systemic change. Those two change agents are Trina Scott, chief diversity officer at Quicken Loans, and Laura Grannemann, vice president of strategic investments at the Quicken Loans Community Fund. Both women share tangible tips on how listeners can create impactful change in their own communities or companies. This interview spotlights the Kudos feature for HousingWire Magazine's August issue, which covers the impact people are having in our industry that goes beyond the four walls of the office. These two interviews, in particular, are extra special too, so be sure to check out the August issue when it comes out to learn more. While both of these interviews are condensed for the podcast, they still showcase the work they're doing and ways listeners can implement change in their own world. Here’s a sneak peak of the August Kudos feature: As Quicken Loans’ first chief diversity officer in a dedicated diversity and inclusion role, Scott leads the charge in aligning strategic leadership efforts with overall strategy around key initiatives: diverse recruits and team members; engaging, retaining and developing all team members; community impact; and what they’re doing in the marketplace. To Scott, diversity and inclusion begins with culture.“Oftentimes, when people are in the diversity, equity and inclusion space, the knee jerk reaction is to turn to programming,” she said. “I'm proud to say that while we have programmatic things that are in place, we really started to do some self-reflecting of our organization.”Meanwhile, leading another company within the Quicken Loans and Rock FOC that shares the same ISMs and drive as Scott, is Laura Grannemann. As vice president of strategic investments at the Quicken Loans Community Fund, Grannemann oversees the philanthropic arm of Quicken Loans and the Rock FOC, helping drive systemic change through investing $30 million annually.“The opportunity that we saw when we first founded this organization was that we have such a dramatic influence across several different spheres,” she said. “It's not just our philanthropic capital, although our philanthropic capital is really important. The best way to make an impact in our communities has been to pull all of those different resources together and leverage them at the same time towards one mission.”The August issue is also the official relaunch of HousingWire Magazine, and Kelsey Ramírez, HousingWire Magazine editor, left no section untouched. The deadline to get a physical copy of the August issue is Friday, July 10. Act fast and subscribe today to HW+ today to be one of the first people to experience the new HousingWire Magazine. Also, for every subscriber that takes a picture of the August issue, posts it on social media and tags HousingWire, HousingWire will donate $5 to the MBA Opens Doors Foundation. 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.

In today’s Daily Download episode, HousingWire covers Freddie Mac’s weekly Primary Mortgage Market Survey that shows mortgage rates have fallen to a new all-time low. For some background on the story, here’s a summary of the article: Rates for a 30-year and 15-year fixed mortgage fell to all-time lows this week as a resurgence in the pandemic caused investors to buy more bonds, including mortgage-backed securities.The average rate for a 30-year fixed mortgage was 3.03%, down from 3.07% last week. That marks the lowest in a data series that goes back to 1971, Freddie Mac said in a statement Thursday. The average 15-year rate fell to 2.51%, the lowest in almost 30 years of data, according to the mortgage financier. Mortgage rates fell as investors reacted to news of a record-setting COVID-19 resurgence in some of the nation’s biggest states. The surges erased optimism from last month’s economic reports showing the jobs market recovering quickly from the virus-induced recession.The low mortgage rates will boost demand for housing, but it’s a delicate balance, said Sam Khater, chief economist of Freddie Mac. Bad economic news pushes mortgage rates down. However, if states are forced to close businesses again and job losses mount, it will eat into the reservoir of people eligible to purchase properties.Following the main story, HousingWire covers a study from the Urban Institute that claims gentrification comes from a lack of housing supply, and a report from the Mortgage Bankers Association that shows the forbearance rate continues to decline. 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: Mortgage rates fall to all-time lows Gentrification comes from lack of housing supply, Urban Institute says Forbearance rate declines after June’s economic improvements, but will it hold?

In today’s Daily Download episode, HousingWire interviews OJO Labs Chief Marketing Officer Karen Starns, who was recently named a HousingWire 2020 Woman of Influence winner, about marketing in the housing industry's changing landscape. Here’s some background on the conversation: This year the unprecedented outbreak of COVID-19 and the response from local, state and even the national government changed how business operate, where they operate from and importantly, their marketing strategies. The housing industry fluctuates quickly, creating the need for consistent changes in marketing strategy, but with the onset of COVID-19 many companies were forced to pivot with little to no notice. Spoiler alert: HousingWire 2020 Woman of Influence Karen Starns spoke with us about the role marketers played in the COVID-19 crisis. She explained that marketers need to find out what works for them and double down on it, however they should always have an experimental campaign in the works. “Never be afraid to try something new,” Starns said in the interview. Starns is a force within the consumer tech space. As chief marketing officer at OJO Labs, Starns focuses her attention on the revamping of OJO Labs’ brand to better reach a rapidly increasing number of consumers through the company’s proprietary AI advisor for homebuying. Starns is featured heavily in our 2020 HousingWire Magazine redesigned August issue. To sign up for our all-new magazine and access our HW+ premium content, sign up here. 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: HW Women of Influence Program Details

In today’s Daily Download episode, HousingWire covers Goldman Sachs’ warning that the U.S. will suffer economic consequences for not containing the COVID-19 Virus. For some background on the story, here’s a summary of the article: The U.S. has failed to contain the COVID-19 virus, alone among developed economies, and will suffer the economic consequences, Goldman Sachs economists said in a report issued on Independence Day.“Over the last few weeks, the covid situation in the U.S. has worsened significantly to the point where the US is now a notable outlier among advanced economies,” the report said. “Other advanced economies show that it is clearly feasible to resume economic life to or beyond current US levels without triggering a spike in virus cases.”Instead, the virus in the U.S. is spiralling out of control, the report said. In part, it blamed the lack of national leadership – what it called a “bottom-up approach.” The resultant pull-back in consumer spending, which accounts for about three-quarters of U.S. GDP, will likely cause job losses and a steeper recession than expected, the economists said.“The U.S. took a more bottom-up approach to reopening than most countries, with policy set mostly at the state and city level, and there were bound to be setbacks in at least a few parts of the country as the economy reopened,” the report said. Following the main story, HousingWire covers a report from the Federal Reserve Bank of Atlanta that indicates the danger of mortgage forbearances turning into foreclosures is rising as COVID-19 infections surge, and an announcement from Zillow that it will resume buying homes via Zillow Offers in five more markets, bringing the total to 20 out of 24 markets. 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: Goldman Sachs warns of economic fallout from U.S. virus response Foreclosure threat grows as COVID-19 surges, Fed says Zillow Offers resumes in five more markets, bringing the total to 20 out of 24 markets

Today’s Daily Download episode features an interview with United Wholesale Mortgage CEO Mat Ishbia. In this episode, Ishbia shares UWM’s journey to becoming the top wholesale lender, his goal to be the top lender in the nation and how UWM has managed to successfully navigate COVID-19. This episode digs deeper into the main feature from the July issue of HousingWire Magazine, which spotlights how UWM captured the wholesale market. During the interview, Ishbia also gives an update on how the company is performing now and their plans for the rest of the year. One of the biggest updates from UWM was the launch of its Conquest program for new UWM customers. The new loan program offers borrowers an interest rate as low as 2.5% for both purchase mortgages and refinances. “If you go back to May 11, the day before we rolled out Conquest, nobody was talking about 30-year fixed in the 2s. A lot of people said you could never go below 3%, and all of a sudden, now we’ve done almost 100,000 loans since that day, with a 30-year fixed-rate mortgage in the 2s,” said Ishbia. Ishbia wraps up the podcast by commenting on the journey of the broker channel, looking back at the fall and rise of brokers since the financial crisis more than a decade ago. “The big thing here is that the broker channel is back and is stronger than ever,” he said. “With what UWM has done and a lot of other great wholesale lenders, it makes it so that you can be an independent mortgage broker – you’re not captive to a retail lender – with access to the best lenders in America with different turn times, different products, different service levels, different pricing, and basically take care of your clients, make the same if not more money and do more business as an independent broker.” 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: How UWM captured the wholesale market (HW+) UWM CEO Mat Ishbia promises no layoffs during coronavirus slowdown UWM now offering mortgage interest rates as low as 2.5%

In today’s Daily Download episode, HousingWire covers Freddie Mac’s Primary Market Mortgage Survey that shows mortgage rates have now fallen to a new all-time low. For some background on the story, here’s a summary of the article: Mortgage rates dropped to a new all-time low in the U.S. this week as a resurgence of COVID-19 infections caused investors to pile into the bond markets.The average rate for a 30-year fixed mortgage was 3.07%, the lowest in a data series that goes back to 1971, and down from 3.13% last week, Freddie Mac said on Thursday. The average 15-year rate fell to a seven-year low of 2.56%, according to the mortgage financier. Bond yields, used as a benchmark by mortgage investors, have fallen to near-record lows over the last week on news of a resurgence in COVID-19 infections, erasing hopes for a V-shaped recovery that would have the economy rebounding quickly from the virus-induced recession. States including Texas, California and New York have either paused reopening plans or reversed course to stem the spread of COVID-19. “The spread of the virus is worsening in almost every state,” Goldman Sachs economists said on Tuesday. “Over half of the US has now reversed or placed reopening on hold.” Following the main story, HousingWire covers a prediction from the Federal Open Market Committee that the COVID-19 pandemic will worsen in the second half of 2020, and Realtor.com’s weekly Housing Market Recovery Index that shows signs of recovery in the housing market. 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: Mortgage rates fall to new all-time low this week FOMC worried virus resurgence will trigger new spike in layoffs, minutes show Housing market recovery: things are looking up

In today’s Daily Download episode, HousingWire covers a report from Moody’s Investors Service that claims the COVID-19 pandemic has delayed the mortgage industry’s efforts to transition away from LIBOR. For some background on the story, here’s a summary of the article: The COVID-19 pandemic has slowed the transition from the London Interbank Offer Rate, or LIBOR, an interest-rate benchmark once known as the world’s most influential number.Some loans and other instruments are still being written using LIBOR as an index for the interest rate, adding to the legacy stock of financial products that will have to be dealt with when benchmark expires at the end of 2021, according to a Tuesday report from Moody’s Investors Service. The pandemic has slowed efforts to transition to another benchmark, the report said.“The global coronavirus crisis is only delaying solutions to LIBOR’s end,” the report said. “For many market participants, addressing liquidity needs has been a higher near-term priority than addressing their existing LIBOR exposures or launching non-LIBOR initiatives.”LIBOR is being phased out about a decade after regulators discovered traders were manipulating the rate set by Britan’s biggest banks. Before details of the scandal were unveiled by investigative journalists, LIBOR was the most popular index for U.S. adjustable-rate mortgages.Following the main story, HousingWire covers the Mortgage Bankers Association’s weekly applications survey that shows mortgage applications fell 1.8% last week despite mortgage rates staying low, and a report from the National Association of Realtors that shows U.S. pending home sales surged a record 44% in May. 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: COVID-19 pandemic delays efforts to transition away from LIBOR, Moody’s says Mortgage applications continue to slow despite low-rate environment S. pending home sales surged a record 44% in May

In today’s Daily Download episode, HousingWire covers an announcement from Freddie Mac Multifamily that it has created three additional forbearance options to assist multifamily borrowers who have been impacted by COVID-19. For some background on the story, here’s a summary of the article: Freddie Mac Multifamily announced Monday that it has created three additional forbearance options to assist multifamily borrowers who have been impacted by COVID-19. Those options also extend tenant protections.The options include delaying the start of the repayment period following forbearance; an extension of the repayment period; and, an extension of the forbearance period with an optional extended repayment period.“Many borrowers are still facing hardship even though they may soon exhaust the 90-day forbearance granted in the initial iteration of our COVID-19 relief program,” said Debby Jenkins, executive vice president and head of Freddie Mac Multifamily. “These additional relief options will provide more flexibility to borrowers and extend tenant protections for renters who also continue to struggle with the economic effects of the pandemic.” According to Freddie Mac, any extension of the forbearance period will also extend the prohibition on evicting tenants solely for nonpayment of rent, which was part of its original forbearance program established in response to Hurricane Harvey in 2017.Following the main story, HousingWire covers a survey from Fannie Mae that shows mortgage servicers want clarity on post-forbearance options for borrowers, and a report from the Mortgage Bankers Association that shows the forbearance share of mortgages backed by Fannie Mae and Freddie Mac has dropped for the third consecutive week. 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: Freddie Mac Multifamily offers new forbearance options and tenant protections Fannie Mae survey shows mortgage servicers want clarity on post-forbearance options for borrowers GSE forbearance rate drops for third week, MBA says

In today’s Daily Download episode, HousingWire covers data from the Consumer Financial Protection Bureau that highlights 2019’s top mortgage lenders. For some background on the story, here’s a summary of the article: The Consumer Financial Protection Bureau released its annual report on Home Mortgage Disclosure Act data on June 24 with reports from 5,496 financial institutions.The report stated banks collectively originated 32.4% of all reported originations in 2019 with 2.6 million loans. Credit unions followed with 714,000 loans making up 8.8% of originations. Independent mortgage companies took the lion’s share in 2019, originating 4.4 million loans. That accounts for 54.5% of all reported loans. Overall, the top 25 lenders accounted for 37.2% of all loan originations in 2019, a slight increase from 33.8% in 2018’s report.“These same firms also provided additional funding by purchasing approximately 922,000 loans from other lending institutions during 2019 (these loans could have been originated prior to 2019), equal to 44.5% of total purchased loans,” the CFPB said. Following the main story, HousingWire covers data from CoreLogic that claims 7.4 million homes will be at risk during hurricane season and a report from Black Knight that indicates mortgage forbearances have risen after three consecutive weeks of decline. 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: Here are the top 10 mortgage lenders of 2019 CoreLogic: 7.4 million homes are at risk during hurricane season Mortgage forbearances rise after three weeks of decline

In today’s Daily Download episode, HousingWire interviews the National Association of Real Estate Brokers President Donnell Williams about the organization’s mission as well as a recent town hall meeting NAREB conducted to gauge strategies that are aimed to increase black homeownership. For some background on the episode: In a town hall meeting hosted by the National Association of Real Estate Brokers on Thursday, members of the real estate community came together to discuss inequalities in Black homeownership and how to remedy them.Strategizing Black homeownership, down payment assistance and fair housing were just some of the topics brought up in the hour-long video discussion. Another large portion of the conversation was directed to Black homeowners with mortgages underwater.Nikitra Bailey, executive vice president at the Center for Responsible Lending, said that Black homeowners lack the same amount of equity as white homeowners due to being in an underwater mortgage, owing more than the home is worth.“We are at a point of reckoning in our country,” Bailey said. “Our nation’s discriminatory practices and how they are at the root of many of the injustices that we see people, leading protests calling for repair for, we know that the COVID-19 pandemic is falling disproportionately on Black communities because of the structural discrimination. So structural and historic discrimination has left our families more vulnerable.”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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: NAREB town hall: Here are strategies to improve Black homeownership

Today’s Daily Download episode features an interview with housing data analyst and expert Logan Mohtashami. In this episode, Mohtashami not only provides unique insight into the latest housing numbers, but he shares the information in a way that leaders are able to understand. Mohtashami also discusses the biggest trends he is following in the housing market data, along with what listeners can expect from housing for the rest of the year. And with the latest purchase application now out from the Mortgage Bankers Association, he digs into how the housing market has officially experienced a V-shaped housing recovery. When asked what trends he is following right now and why, Mohtashami responded saying, “The first and the most important thing is that the United States housing market just had a legitimate V-shaped housing recovery, and we see that in the purchase application data.” “We’ve had the hottest four-week period on a year-over-year average in the purchase application data,” he said. “If you actually follow housing data, the year-over-year data for purchase applications matters more than anything because it gives you the trend. It doesn’t exactly give you a percentage of sales measure, but it gives you the trend,” Mohtashami said. “After today, we can legitimately say that the United States of America’s V-shaped recovery in housing is complete.” 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: The Good, the Bad and the Ugly of the housing market 5 months into the pandemic Purchase apps fall for the first time in 10 weeks

In today’s Daily Download episode, HousingWire covers the Mortgage Bankers Association’s weekly applications survey. For some background on the story, here’s a summary of the article: Purchase applications fell 3% last week, according to a report from the Mortgage Bankers Association. This marks the first decline for purchase applications in 10 weeks following the highest level of purchase applications in over 11 years the week prior.According to the report, mortgage applications decreased 8.7% from last week. Applications for refinancings dropped to their lowest level in three weeks after they fell 12% from the previous week. However, that is still 76% higher year-over-year, according to the report.“Even with high unemployment and economic uncertainty, activity has climbed above year-ago levels for five straight weeks and was 18% higher than a year ago last week,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.The refinance share of mortgage activity fell to 61.3% of total applications from 63.2% the week prior. But, the MBA is anticipating refinance originations to increase to $1.35 trillion in 2020 – putting it at the highest level since 2012, according to the report.Following the main story, HousingWire covers data from RealPage that indicates rent prices are dropping across the country and a survey from Qualia that claims remote online notarizations have surged 40% during the pandemic. 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: Purchase apps fall for the first time in 10 weeks Rent is dropping across the country Remote online notarizations surge 40% during pandemic

In today’s Daily Download episode, HousingWire covers the share of loans in forbearance falling for the first time since March. For some background on the story, here’s a summary of the article: The share of mortgage loans in forbearance plans fell to 8.48% last week from 8.55% the week prior, according to the Mortgage Bankers Association’s Forbearance and Call Volume survey. This marks the first time the total number of loans in forbearance decreased since the survey’s inception in March.The MBA approximates 4.2 million homeowners are now in forbearance, a decline from the almost 4.3 million estimated the prior week.Broken down by investor type, Ginnie Mae mortgages – primarily backed by the Federal Housing Administration and the Veterans Administration – had the largest overall share of loans in forbearance at 11.83% for the third week in a row, the MBA reported. Following the main story, HousingWire covers a forecast from the Mortgage Bankers Association that claims mortgage lending will surge to a 14-year high this year and an announcement from the Consumer Financial Protection Bureau about limiting the DTI requirement from qualified mortgage standards. 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: Share of loans in forbearance falls for the first time since March Mortgage lending will surge to a 14-year high this year, MBA says CFPB to eliminate DTI requirement from qualified mortgage standards

In today’s Daily Download episode, HousingWire interviews the National Association of Realtors’ Chief Economist Lawrence Yun on the organization’s five-point plan for supporting Black homeownership. For some background on the episode, here’s a brief summary of the article:The National Association of Realtors laid out a five-point plan for how the real estate industry can step up to provide support in increasing the number of Black American homeowners. While the homeownership rate for Black households has slightly improved and now sits at 44%, compared with an overall U.S. rate of 65.3%, it was only a year ago that it fell to 40.6%, which not only was the lowest level in the Census Bureau’s quarterly data going back to 1994 but was also the smallest share recorded for Black households since the 1950 decennial Census when it was 34.5%The five-point plan includes: Build more homes to increase supply: Yun stated that since the pool of potential first-time buyers is higher in the minority population, if the industry can increase supply, it could help minority households lock in a home. Build more homes in Opportunity Zones: Yun posed the question: “Since the industry needs to build so many homes, why not build or sell homes in the Opportunity Zones to help revive some of those areas?” He added that there is even a tax break in certain geographically defined opportunity zones for developers to go in and build homes, helping the revitalization of economically-distressed areas. Increase access to down payment assistance: While family members are stepping in to help address affordability issues, NAR stated that it is still much more difficult for Black Americans to obtain substantial financial assistance from family members. They added that increased access to federal down payment assistance based on a certain income threshold is vital, particularly for Black Americans. Strengthen FHA’s loan program: Yun explained that many minority households are able to become first-time buyers by using FHA mortgages, making the product an important source of financing. NAR stated that shifting federal dollars to strengthen the FHA program could lower mortgage insurance premiums and monthly mortgage payments. Expand alternative credit scoring models:NAR outlined that expanding credit scoring models to include rent and utilities payments would help Black Americans boost their credit score. Yun also shared an estimate from the National Association of Real Estate Brokersthat alternative credit scoring would open up buying to 115,000 Black Americans annually. The Daily Download examines the most captivating articles reported from the HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.HousingWire articles covered in this episode: NAR’s plan to help increase Black American homeownership</

In today’s Daily Download episode, HousingWire covers data that shows the real estate market is beginning to heat back up to pre-pandemic levels. For some background on the story, here’s a summary of the article: Demand for houses continues to skyrocket, according to a report from Redfin CEO Glenn Kelman. Seasonally adjusted demand for houses during the week of June 1 through June 7 was 25% above pre-pandemic levels. Kelman said that bidding wars have caused listings to move quickly, and sales prices are up 3.1% year over year. The percentage of newly listed homes to accept an offer within 14 days increased from 42% in May to 47% in June.“Our abiding concern in May was about the number of homes for sale, but that’s improving too,” Kelman said. “After falling to 21% below last year’s level the week of May 25-31, new listings last week continued their recovery; last week’s new listings were 15% below last year’s level.”Following the main story, HousingWire covers data from Realtor.com that indicates housing markets in tech hubs are likely to recover faster from the COVID-19 pandemic and a survey from 72Point and the National Association of Realtors that claims 47% of homeowners have considered selling their home due to the pandemic. 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: The real estate market heats up: Housing demand is 25% above pre-pandemic levels Housing markets in tech hubs likely to recover faster from pandemic Even with mortgage assistance, 47% of homeowners have considered selling their home due to pandemic

In today’s Daily Download episode, HousingWire covers the Federal Housing Finance Agency’s extension of its foreclosure mortarium. For some background on the story, here’s a summary of the article: The Federal Housing Finance Agency on Wednesday extended the foreclosure and eviction moratorium for borrowers with mortgages backed by Fannie Mae and Freddie Mac until “at least” Aug. 31, the federal watchdog said.“During this national health emergency no one should worry about losing their home,” said FHFA Director Mark Calabria, who oversees the two mortgage companies that back more than half of the outstanding mortgages in the U.S.The FHFA will continue to monitor the COVID-19 pandemic and “update policies as needed,” the agency said in a statement.The moratorium would primarily apply to the 2 million mortgages that were in default at the end of February, as measured by Black Knight. Both the delinquency rate and foreclosure rate for mortgages reached multi-decade lows before the pandemic began hitting the U.S. at the end of February.Borrowers with Fannie Mae and Freddie Mac mortgages are eligible for forbearance of up to one year if they are impacted by COVID-19, as mandated by the CARES Act passed by Congress. But, borrowers have to be current on their mortgage payments to qualify.Following the main story, HousingWire covers Federal Reserve Chairman Jerome Powell’s plea for examiners to go easy on forbearances, and Freddie Mac’s Primary Mortgage Market Survey that indicates rates have now fallen to another all-time low. 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: FHFA extends foreclosure moratorium to end of August Powell urging examiners to go easy on forbearances Mortgage rates tumble to another all-time low

In today’s Daily Download episode, HousingWire covers Federal Reserve Chairman Jerome Powel’s statements to Congress about the nation’s economic vitality. For some background on the story, here’s a summary of the article: Failure to provide additional legislative support to an economy reeling from COVID-19 will worsen the inequality that has led to mass protests in America in recent weeks, lead to more small-business failures, and extend the recession, Federal Reserve Chairman Jerome Powell told the Senate Banking Committee on Tuesday.Powell said he wouldn’t comment on whether or not specific programs should be enacted or extended, including the beefed-up unemployment benefits scheduled to expire at the end of next month. But he did say more help was needed from Congress. “If a small or medium-sized business becomes insolvent because the economy recovers too slowly, we lose more than just that business,” Powell said. “The small businesses of America, that’s where the jobs are created on net, and while there are people going in and out of business all the time, what you don’t want is a wave of insolvency that will weigh on the economy for years.”Following the main story, HousingWire covers a forecast from Fannie Mae that claims mortgage rates will remain at record lows throughout 2021, the Mortgage Bankers Association’s Weekly Applications Survey that indicates purchase applications now sit at an 11-year high, and a forecast from the National Association of Realtors that projects home building will continue to lag household formation. 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 that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: Economy needs more help from Congress, Powell says Fannie Mae sees record-low mortgage rates through 2021 Purchase applications reach highest level in over 11 years Here’s why there aren’t enough homes to buy right now

In today’s Daily Download episode, HousingWire Digital Producer Alcynna Lloyd interviews Movement Mortgage’s Director of Corporate Strategy Montell Watson about his HousingWire [PULSE] article, titled 3 ways to increase and empower black homeownership. For some background on the story, here’s what Watson had to say in the article: Over the last several months, I’ve read many articles talking about the homeownership gap for black Americans. Each article fuels me to speak with more families to bring awareness to the importance of homeownership and how owning a home can have a positive generational impact on their households. Although the current gap is staggering, I believe we have an opportunity to change the systemic long-term trust issues black households have with financial institutions while empowering all potential homeowners to believe homeownership is for them.Today, the homeownership gap for black households stands at 44%. This rate has ticked up from a recent staggering 50-year low that traces back to the passing of the Fair Housing Act. This gain is positive, but we have a long way to go. Homeownership is still one of the best ways to grow wealth and low homeownership rates in black communities has a direct correlation to net worthThis results in a lack of opportunity for home equity growth and a natural built-in savings account earned by making mortgage payments vs. a rental payment. According to “The Road to Zero Wealth” report by Prosperity Now, the median wealth of black Americans will fall to zero within 23 years if current trends continue. This is daunting. The Daily Download examines the most captivating articles reported from the HousingWire newsroom. HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: [PULSE] 3 ways to increase and empower black homeownership The Urban Institute’s Alanna McCargo on black homeownership after COVID-19

IIn today’s Daily Download episode, HousingWire Digital Producer Alcynna Lloyd discusses and announcement from Google that the company will now make it impossible for lenders and Realtors to target consumers based on ZIP code and other demographics. For some background on the story, here’s a summary of the article: Google announced it is tightening its policies, prohibiting employment, housing and credit advertisers from targeting or excluding ads based on certain demographics and ZIP codes.The company explained that it has long prohibited advertisers from targeting users based on “sensitive categories” related to their identity, beliefs, sexuality or personal hardships. This means the company doesn’t allow targeting based on categories like race, religion, ethnicity, sexual orientation, national origin or disability.But now, Google is adding several new categories to that list to improve access to housing, employment and credit opportunities. The new policy will prohibit impacted advertisers from targeting or excluding ads based on gender, age, parental status, marital status or ZIP code. The company expects these changes to take effect by the end of 2020.Following the main story, HousingWire covers data from Black Knight that indicates U.S. mortgage forbearances declined last week for the second consecutive week, and an announcement that Ithaca, New York has become the first city in the U.S. to cancel rent payments in response to COVID-19. The Daily Download examines the most captivating articles reported from the HousingWire newsroom. HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd. HousingWire articles covered in this episode: Google will make it impossible for lenders and Realtors to target consumers based on ZIP code, demographics Mortgage forbearances fall for the second straight week Ithaca, New York says it will cancel rent payments