HousingWire Daily

In today’s HousingWire Daily interview, Adam Constantine, the owner and CEO of Ace Creatives and former digital content strategist for Movement Mortgage, joins HousingWire Digital Media Manager Alcynna Lloyd to discuss Martin Luther King Jr’s impact on housing equality.

During the interview, Constantine also explains why the industry needs to focus on evoking intentional change rather than launching lackluster initiatives. 

Today’s HousingWire Daily features a Housing News podcast crossover episode with MBS Highway and CEO Barry Habib. In this episode, HousingWire Editor in Chief Sarah Wheeler and Habib launch season 5 of the podcast by discussing MBS Highway’s 2021 housing market forecast.

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

Today’s HousingWire Daily episode features an interview with HousingWire Managing Editor James Kleimann and William Raveis Mortgage Executive Mortgage Banker Melissa Cohn. In this episode, Kleimann and Cohn talk about the surprising group of people who are now buying in Manhattan, the rebounding state of mortgage finance in the Big Apple, what’s slowing down turn-times, and what to make of all the IMBs going public. 

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

In today’s HousingWire Daily interview, Alex Tapp a real estate advisor with Compass explains why Austin, Texas, dubbed the Silicon Hills, is now one of the most competitive housing markets in the nation.  

During the interview, Tapp also explains what the uptick in competition means for Austin’s housing inventory and affordability. 

The Housing News podcast explores the most important topics happening in mortgage, real estate and fintech. Each week a new mortgage or real estate executive joins the show to add perspective to the top stories crossing HousingWire’s news desk. Hosted by Sarah Wheeler and produced by Alcynna Lloyd.

In today’s Mortgage Desk segment of HousingWire Daily, Mayer Brown Partner Ori Lev, a founding member of the CFPB where he served as a deputy enforcement director for litigation, talks about the future of the bureau and what this most recent ruling means. 

In today’s HousingWire Daily episode, HW+ Managing Editor Brena Nath joins HousingWire newsroom Managing Editor James Kleimann to discuss the hottest topics coming across the HousingWire news desk. In this episode, the pair review Kleimann’s recent article that discusses wholesale lender Homepoint’s IPO filing on Friday. Nath and Kleimann also dig deep into his scoop on Guaranteed Rate’s acquisition of Stearns Holdings, and what this could mean for the mortgage companies going forward.

Today’s HousingWire Daily features a crossover episode from HousingWire’s Girlfunds. During the episode, Colorado Springs-based Real Estate Agent Scott Sanchez and Girlfunds host Brena Nath go through a list of Bankrate’s top home-buying questions and explain how to determine your total purchasing budget. The pair also discuss how much you should care about your potential future neighbors and examine what really goes into a home’s closing costs. 

Today’s HousingWire Daily episode features an interview with HousingWire Managing Editor James Kleimann. In this episode, Editor-in-Chief Sarah Wheeler and Kleimann talk about his promotion to managing editor, what he has planned for the newsroom in 2021, and the big deal Guaranteed Rate struck to acquire Stearns Holdings. Kleimann shares what he’s learned about Stearns’ operations, why the deal makes sense for Guaranteed Rate, what this does for the spectre of an IPO, and how two very different company cultures might gel.

Today’s HousingWire Daily focuses on some of the housing topics that shaped 2020. In this episode, we take a look back at last year’s biggest housing concerns and hear industry experts’ commentary on what’s to come in 2021.

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles related to this episode:

·      Black Knight’s Walden on mortgage delinquencies in 2021

·      Redfin’s Daryl Fairweather on whether or not there will be a foreclosure crisis

·      TIAA Bank’s John Pataky on homebuyer demand

·      MBA’s Mike Fratantoni on next year’s purchase market

Today’s HousingWire Daily episode features an interview with HousingWire Lead Analyst Logan Mohtashami. In this episode, Mohtashami takes a deeper look at topics covered in HousingWire’s economist Q&A series on the top housing market forecasts for 2021. Mohtashami discusses housing demand in the years 2020-2024, mortgage rate projections for 2021 and why he believes new homes sales can’t compete with the existing market as it did decades ago.

In today’s HousingWire Daily episode, HW+ Managing Editor Brena Nath joins HW Media Founder and CEO Clayton Collins to discuss the hottest topics coming across HousingWire’s news desk. In this episode, Nath and Collins reflect on 2020, discussing everything from the pivot to remote work to HW Media’s acquisition of REAL Trends. The pair also talk about what’s next for the housing industry as it enters 2021 and the recent announcement of Mortgage Editor James Kleimann’s promotion to HousingWire managing editor.

Today’s HousingWire Daily features a rerun episode Realtor.com’s Senior Economist George Ratiu. In this interview, Ratiu discusses how student loan debt is impacting the nation’s financially strained borrowers.

Today’s HousingWire Daily features an exclusive rerun interview with Redfin’s Daryl Fairweather. In this episode, Fairweather explains why she believes the U.S. housing market is likely to withstand a wave of foreclosures once mortgage forbearance comes to an end.

Today’s HousingWire Daily features a rerun Housing News Podcast interview that features Frank Nothaft, the chief economist at CoreLogic.  In this interview, Nothaft discusses how the COVID-19 pandemic has impacted the housing market’s vitality as well as the economy. Notably, Nothaft also offers his housing market predictions for 2021. As we wrap the year, we are rerunning our favorite episodes from 2020.

Today’s HousingWire Daily features a crossover episode from HousingWire’s Girlfunds. In this episode, Portside Real Estate Group Founder and HousingWire 2020 Woman of Influence, Dava Davin discusses everything from her best financial tip to her No. 1 piece of advice to people starting the home-buying process.

Here is a small preview of today’s interview with Dava Davin. The transcript below has been lightly edited for length and clarity:

Brena Nath: We are obviously passionate about home buying and purchasing tips and insight. As someone who is regularly helping people achieve their dream of homeownership, I have a basic entry-level question, how do you recommend people start the home buying process and where do you think they often go wrong when it comes to buying a home? 

Dava Davin: Going back to our first question about youth, I think the younger, the better when thinking about homeownership. It’s important to start having good behaviors when you are young. Simple things like paying your bills on time, budgeting, saving for that down-payment and speaking with a trusted loan officer can help folks start the homebuying process a year or two in advance. They're not bothering anyone; a loan officer will be happy to have their business and help set them up. I think the typical scenario for homeownership is that you are in a long-term relationship, and then maybe you want to solidify that relationship or have a family. So, you buy a house but it doesn't have to be in that order. I think that sort of thinking is where people go wrong. They think, ‘oh, this is how I'm supposed to do it, I'm supposed to graduate from college, get the job and do it in this way.' You don't necessarily have to. 

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

In today’s episode, Digital Producer Alcynna Lloyd joins HousingWire Editor in Chief Sarah Wheeler to discuss the hottest topics coming across HousingWire’s news desk. During the episode, Lloyd and Wheeler review the recent news  that President Donald Trump signed the second COVID-19 stimulus bill and how it could impact homeowners. 

The pair also highlight what some economists say we should expect for the housing market in 2021 and discuss the housing inventory shortage and whether it will impact potential homebuyers.

For more background on what is discussed, here is a preview of today’s interview, lightly edited for length:

HousingWire: Sarah, what stories really caught your eyes last week?

Sarah Wheeler:  The stimulus bill was really the talk of all last week and then, of course, this weekend, with Trump finally signing the $900 billion stimulus bill. We were focused on both the bill and the implications for our industry as we knew it had quite a bit of an impact for renters and homeowners. Notably, we learned that many people who may have been in a good financial position prior to the pandemic could have saved the money they got from the last stimulus bill, which is really interesting. They didn’t travel, and they weren’t able to do many things they normally do, so they might be saving the funds. Currently, we’re looking at the $600 one-time stimulus checks and the unemployment benefits that are going through. That being said, the House is also voting today on increasing those checks to $2,000. However, it’s unclear if the Republican-led Senate will even vote on the amount or if it will pass. 

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Trump signs stimulus bill: Here’s what you need to know
• The good, the bad, and the likely for housing in 2021
• FHFA extends multifamily forbearance through March 31

Today’s HousingWire Daily features a rerun episode with HW Media Founder and CEO Clayton Collins and Lead Analyst Logan Mohtashami.  In this interview, which was conducted at HousingWire’s Annual Conference, Mohtashami delves into the chaos theory applied to housing in 2020.

Today’s HousingWire Daily features a rerun episode of an exclusive interview with Mike Fratantoni, the Mortgage Bankers Association’s chief economist. In this episode, Mike discusses the MBAs Mortgage Forecast, which includes revised estimates for the third and fourth quarter of 2020, as well as predictions for next year’s purchase market.

Today’s HousingWire Daily features a rerun Monday Morning Cup of Coffee interview with HW+ Managing Editor Brena Nath and Magazine Editor Kelsey Ramirez. In this interview, Nath and Ramirez review the HousingWire December/January Magazine issue, which is a part of HW+ Premium Content, and also highlights what the HousingWire editorial team believes could happen for each sector of the housing industry in next year’s market. 

Today’s HousingWire Daily features a crossover episode from HousingWire’s Girlfunds. In this episode, LA-based Real Estate Agent Xio Sandoval discusses how she is helping her clients lock in a home in today’s competitive market, along with some creative financial ways she has helped people buy a home, such as renting out the basement.

Here is a small preview of today’s interview with Sandoval. The transcript below has been lightly edited for length and clarity:

Sarah Wheeler: You know, we did want to ask you one question about market competition. Currently, Brena Nath is in  the process of buying a house and I just bought a second house. I know you value creating long term relationships with clients, but in today's fast paced market, how are you helping them lock in their dream home?

Xio Sandoval: I have a couple of buyers right now that are just being rejected and we're submitting very aggressive offers. So, I just make sure they understand and remind them they have to be patient. I'm here for them. I don't care if I show them two houses, 20 houses or 30 houses, we're going to get in and I'm not giving up on them. Right now, a house I’m working on is paying two and a half commission to the MLS agent. I'm giving up 0.5% or 0.75% back to the seller as a credit, so they can consider my buyers offer because I rather work in volume than make money in one deal.  This means that buyer is going to stay with me. In fact, right now I'm selling houses to the children of former clients from 10-15 years ago, which is unreal. The market is crazy but that will eventually slow and that’s why maintaining your relationships is important. If the agents know that you are like minded, they will eventually want to work with you.

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

In today's HousingWire Daily episode HW+ Managing Editor Brena Nath joins HousingWire Editor in Chief Sarah Wheeler to discuss the biggest topics coming across the HousingWire news desk. Nath and Wheeler review the recent announcement of approval for another round of stimulus checks and examine how this could impact the housing market. The pair also discuss why three brokers are gearing up for a potential battle in court with United Wholesale Mortgage and highlight what economists say is ahead in 2021.

For more background on what is discussed, here is a preview of today's interview. The transcript below has been lightly edited for length:

HousingWire: What is something that we should all be watching right now regarding the news?

Sarah Wheeler: I think the biggest news over the weekend was the stimulus bill going through. There was a lot of hand-wringing over the last month as many wondered the eventual shape of the bill. However, they did get it done, and we now have a stimulus bill. I think many people have focused on the $600 coming through to American households, which is certainly a big part of it, and that's just a stimulus check. But for our audience, we really want to examine the impact on homeowners or renters looking to become homeowners, which is what we're doing a deep dive on today. Jonathan Reckford, CEO of Habitat for Humanity, wrote an op-ed piece for HousingWire last week discussing what he hoped the stimulus bill would include. One of the interesting things in his take on that was that he felt like there should be money for low-income homeowners. There have been quite a few things for unemployed renters but not so much for homeowners based on how much money they make, yet that could greatly impact our industry. I don't see that in this particular stimulus bill, but we haven't dug into it all the way yet.

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• How the latest stimulus impacts renters and homeowners
• Three brokers go to war with United Wholesale Mortgage
• The next coronavirus front: evictions and foreclosures
• The pandemic's impact on housing market in 2021

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

Today’s HousingWire Daily episode features an exclusive interview with NotaryCam’s CEO Rick Triola. In this episode, Triola delves into why more title industry professionals have adopted remote online notarization in 2020 and shares why he believes RON is here to stay in 2021.

Here is a small preview of today’s interview with Triola. The transcript below has been lightly edited for length and clarity:

HousingWire: Let's get started with the main question of RON adoption; as we all know, states have changed a lot this year when it comes to RON acceptance due to COVID-19. Do you think these policies will stick around in 2021?

Rick Triola: I think so. RON is pretty much here to stay. It's proven over the last couple of years for the offices that have used us as far back as three or four years ago that it has become very sticky.  Sadly, during this pandemic there's a greater need for it today than there was three or four years ago. I think going forward I think going forward; it makes a lot of sense that all of this will become sticky. I can't imagine any legislation reversal.

HousingWire: Looking at a national level, what is the state of the Senate’s SECURE Notarization Act?

Rick Triola: It's an interesting, timely question because as of [Wednesday] the American Land Title Association has put together a letter to Congress, and I signed off on that. It's needed, as it just gives a standard that everybody could abide by. I think the challenge faced when it first came out, with the pandemic, it was a good idea. But there were a lot of things going on in the world that kind of put that on the back burner. But there's no question that in 2021 and as far as I'm aware of, there are no objections to national RON standards. I think it should go through pretty well in 2021.

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles related to this episode:

• These are the top RON trends to watch for in 2021
• This is the single greatest factor standing in the way of RON
• 2020 HW Vanguard: Rick Triola

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

In today’s HousingWire Daily episode, the HousingWire Digital Team focuses on one of the hottest housing markets in the country, Austin, Texas. The episode takes a look at the city’s hot housing market and examines a recent HW+ article that delves into what contributing factors could be making this red-hot market a magnet for tech companies.

This article is part of our HW+ premium membership community. When you go to sign up, use the code “hwpluspodcast100” to get $100 off your annual membership.

For some background on the story, here’s a summary of the article: 

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles related to this episode:

• News of Tesla factory revs up hot Austin housing market
• Austin now a magnet for tech workers wanting to buy homes
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In today’s HousingWire Daily episode HW+ Managing Editor Brena Nath joins Mortgage Editor James Kleimann to discuss the most compelling articles reported from the HousingWire newsroom. The pair review Kleimann’s recent article, which is part of HW+ Premium Content, that digs deeper into the latest mortgage application pull-through rate and why LOs say some applications aren’t making it to the finish line.

For some background on the interview, here’s a snippet of the article:

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles related to this episode:

• After 2020's IPOs, 2021 might be the year of MSR
• CFPB finalizes rules on qualifying mortgages
• Why 28% of mortgage applicants never close the loan

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

Today’s HousingWire Daily episode features an exclusive interview with First American’s Chief Economist Mark Fleming. In this episode, Fleming discusses his recent report that examines the U.S. housing market’s lack of housing inventory and why he believes this historic housing supply shortage is likely to continue into 2021. 

Here is a small preview of today’s interview with Fleming. The transcript below has been lightly edited for length and clarity:

HW: As this is something we've been looking at closely, let's discuss housing supply, given how hot the housing market has been this year. Your report highlights that the average homeowner's tenure length is at an all-time high of 10.5 years. How does tenure length impact would-be homebuyers, and are there any other factors to be considered?

Mark Fleming: The unfortunate truth is you can't buy what's not for sale. Supply inventory comes almost entirely from existing homeowners. If that existing homeowner chooses to stay in their home longer, the tenure length measures the amount of time people are not moving or selling their home. If there's nothing to sell, there's nothing to buy. Inventory is tight; tenure length is up, existing homeowners aren't bringing their homes to market, so the potential first-time homebuyer has a really hard time finding something to buy. That then plays into house prices and becomes significant bidding wars for what is for sale, which escalates prices. We have to remember that house prices result from the supply and demand dynamic, but not something else. They're a reflection of the imbalance. As the post's title suggests, The Big Short is a significant shortage and historic shortage in housing in the United States today.

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles related to this episode:

• Increase in housing starts has construction playing catch-up
• Builder confidence reaches 35-year high in November
• Mortgage rates fall to another record low at 2.71%

Today’s HousingWire Daily features an exclusive interview with Redfin’s Daryl Fairweather. In this episode, Daryl discusses why she believes the U.S. housing market is likely to withstand a wave of foreclosures once mortgage forbearance comes to an end.

Here is a small preview of today’s interview with Fairweather. The transcript below has been lightly edited for length and clarity:

HousingWire: Alright, now I want to focus on Redfin’s latest report, which focuses on the nation’s forbearance and foreclosure activity. In the article, Redfin highlights that more than 3.3. million U.S. homeowners will be on the hook for delinquent payments when mortgage forbearance ends, and while some of them will contribute to a wave of foreclosures, most will be able to work with their lenders to either refinance their mortgage or sell to cash in on rising home values. Can you explain this more in detail for our listeners? 

Daryl Fairweather:  During the pandemic, we've had mortgage forbearance, which has been a really great option for people who are worried about a job loss or declining income. For many, not having a mortgage payment has been one less thing to worry about. While there's uncertainty about where the economy is headed not all of those who have chosen to defer their loans are going to end up in foreclosure. The good news for them is that home values have gone up quite a bit during the pandemic. In fact, they've risen over 6%, and most people have a lot of equity in their homes. These people have options. They can refinance their mortgages, which means they'll be able to refinance to lower interest rates, potentially even reducing their payments below what they were initially paying prior to the pandemic. 

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles related to this episode:

·      Mortgage delinquencies expected to remain above pre-pandemic levels until 2022

·      Here’s why we won’t see a housing crisis after COVID-19

·      Pandemic may lead to foreclosure crisis, CoreLogic says

·      Despite moratoria, foreclosures increase 20% in October

In today’s HousingWire Daily interview, Matt Tully, Sagent’s vice president of agency affairs and chief compliance officer, discusses how a Biden administration will likely impact housing regulation. During the interview, Tully also explores what the overall change in government administration means for banks and lenders when it comes to housing.

For some more background on what is discussed, here’s a brief summary of a recent HousingWire article on The Office of the Comptroller of the Currency's recent announcement of its' appointment of two executives to the Executive Committee: 

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Industry gives mixed reviews of FHFA's Final Capital Rule
• Coleman, Menefee selected to OCC executive committee

In today’s HousingWire Daily episode, HW+ Managing Editor Brena Nath joins Magazine Editor Kelsey Ramirez to discuss the most compelling articles reported from the HousingWire newsroom. Brena and Kelsey review HousingWire Magazine’s latest issue, which features several 2021 economic forecasts. The issue, which is part of HW+ Premium Content, also highlights what the HousingWire editorial team believes could happen for each sector of the housing industry in next year’s market. 

For some background on the interview, here’s a brief summary of a recent HousingWire article on the 2021 housing market forecast:

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Even with low inventory, expect a strong 2021 housing market

In today’s HousingWire Daily interview, Selma Hepp, CoreLogic’s deputy chief economist, discusses findings in the latest S&P CoreLogic Case Shiller home price index, which indicates the nation’s home prices are climbing.  

During the interview, Hepp also explains what an uptick in mortgage delinquencies means for the overall health of the housing market. 

Here is a small preview of the interview with Hepp. The transcript below has been lightly edited for length and clarity.

HW: Let’s start out with the latest S&P CoreLogic Case Shiller home price index. Are you concerned at all as you see the home-price growth over the last several months?

Selma Hepp: That's an excellent question, and I'm going to start by saying no, I'm not. And there's a reason for that. So obviously, this time around, the price growth we're seeing is very much different than what we saw prior to the Great Recession. Housing fundamentals are much different, and the way we are going about our home purchase and refinance market is much different. The reason we're seeing home price growth accelerate so much is because of the low inventory we had coming into this current pandemic. In fact, even prior to the pandemic we had low supply. So, we would probably still be in this situation.

On the other hand, if you look at the last two decades of new home construction, and the overall number of housing units in the market, we added only 20 million units but welcomed 46 million people. So, in a 40 year period, there has been a huge imbalance in the number of people in the housing market versus housing units. The low inventory amid this strong demand was a natural occurrence for home prices, as they were going to grow this fast at this point in time.

The Housing News podcast explores the most important topics happening in mortgage, real estate and fintech. Each week a new mortgage or real estate executive joins the show to add perspective to the top stories crossing HousingWire’s news desk. Hosted by Sarah Wheeler and produced by Alcynna Lloyd.

In today’s HousingWire Daily episode, John Pataky, TIAA Bank’s executive vice president, discusses the nation’s lack of housing inventory and how it’s impacting homebuyer demand and home prices.

For some background on the interview, here’s a brief summary of HousingWire’s coverage on the latest housing starts report:

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Increase in housing starts has construction playing catch-up

Today’s HousingWire Daily features an exclusive interview with Forbes reporters David Jeans and Noah Kirsch. The pair join Mortgage Editor James Kleimann to discuss their recent article published at the end of November, titled “Mortgages, Fraud Claims and ‘Dumb Dolphins.’” The article dives into Better.com CEO Vishal Garg’s controversial workplace culture and how he leads the $4 billion fintech startup that’s preparing for IPO in 2021.

Here is a snippet that sums of the interview with Jeans and Kirsch. The transcript below has been lightly edited for length and clarity:

Noah Kirsch: I think it's important for readers or listeners to understand that our story really is two-pronged. One is that on the top layer, you have a really successful CEO leading a really successful company who's gotten a ton of positive press. And then our story is really about what's happening beneath the surface. And part of it is about the tangle of lawsuits from many different high-profile parties that have followed Vishal for a long time. The other element is what is it actually like to work for [Vishal]. In some cases, some say that it's worth it, and in some cases, some say that it was a pretty horrifying place to work. I think that's the summary.

For background on Better.com, it was founded in 2016 and is a digital homeownership company whose services included mortgage, real estate, title and homeowners insurance. To date, Better.com has funded $25 in home loans and provided over $7 in cumulative coverage through Better Cover and Better Settlement Services.

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Better.com, valued at $4B, prepares for IPO in 2021

Today’s HousingWire Daily episode features an interview with HousingWire Lead Analyst Logan Mohtashami. In this episode, Mohtashami discusses his recent article that focuses on rapid home-price growth in the 2020 housing market and delves into factors that he believes could be driving home prices up. 

For some background on the story and how COVID-19 has impacted the housing market, here’s a snippet of the article: 

Demand for housing was strong in early 2020, before the COVID-19 crisis hit. Mandated shut-down measures and the fear of what COVID would do to our economy temporarily immobilized the housing market, evinced by nine weeks of declines in the weekly purchase applications data on a year-over-year basis. Then it was as if the Housing Demographic God exerted her chronokinetic powers to snap demand back to pre-COVID levels of growth. The frozen market thawed and resumed its steady pace of growth, even making up for lost time. 

Instead of a housing crash, as many others predicted would be the lasting consequence of shut-down policies and massive job losses across the nation, the opposite happened as the 2020 U.S. housing market has been the most out-performing economic sector in the world.

However, we now have another issue to worry about — that home prices will accelerate too quickly, unrestrained by an increase in mortgage rates. 

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• The downside of the hot 2020 housing market: rapid home-price growth
• The housing market is hot, but not in a bubble

In today’s HousingWire Daily episode HW+ Managing Editor Brena Nath joins HousingWire Editor in Chief Sarah Wheeler to discuss the most compelling articles reported from the HousingWire newsroom. Brena and Sarah review the announcement that conforming loan limits for Fannie Mae and Freddie Mac are now expected to rise, and examine what record low mortgage rates and recent forbearance numbers could mean for the housing market.

For more background on what is discussed, here is a preview of today’s interview. The transcript below has been lightly edited for length:

Q: What other pieces of news should we be watching out for right now?

Sarah Wheeler: Even though it was a holiday, Black Knight put out their recent forbearance numbers on Friday and notably, the Mortgage Bankers Association is expected to do the same soon. Black Knight's recent numbers do show a small uptick, but just week over week and  the forbearance numbers we can see right now are still really good. That's great news for all of us. Nobody wants to see a big uptick in forbearances, but also, it just feels like a lot of the people who are in forbearance now have extensions. Those are some things that we're looking at. We're also looking at delinquencies and seeing how its progressing. It's worth mentioning, we have seen an uptick in the amount of interest in distressed properties, which are vacant properties that were probably foreclosed on before COVID-19. We're discovering some really interesting things on that, but forbearance is something we're going to be examining from here until this time next year or longer. Currently, HousingWire has a forbearance FAQ that we've done in coordination with Freddie Mac. It's just to give our industry and consumers information because we still see people coming out of forbearance who have never talked to their servicer. I mean, there's just no reason for that, and that may not be the best move. I think forbearance is always going to be something we're looking at.

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Fannie, Freddie conforming loan limits increase for 2021
• Demand for distressed housing returning
• What is mortgage forbearance? Here's everything you need to know

Today’s HousingWire Daily features an interview with Zillow Economist Matthew Speakman. In this episode, Speakman discusses Zillow’s recent report that indicates strong homebuyer demand drove home sales in October.

Here is a small preview of today’s interview with Speakman. The transcript below has been lightly edited for length and clarity:

Q: I want to start by discussing Zillow’s recent report that states existing home sales continued to surge in October on the strength of buyer demand. The report, which uses data from the National Association of Realtors, indicates existing home sales rose to 6.85 million in October, climbing 4.3% from September and 26.6% from a year ago. What does this tell us about the current state of the housing market?

Matthew Speakman: It's pretty remarkable. It's another strong stretch of reports on the housing market. The report says it's the strongest annual growth in more than a decade and the best pace in overall existing sales since before the Great Recession. Again, it's a reiteration that housing market activity is really strong and healthy. There is elevated buyer demand and market competition for the few homes listed on the market. Mortgage rates and other factors have enabled some people to take the leap into the housing market and offered more attractive buying conditions. Overall, it's just an emphasis that the housing market has fared really well throughout the pandemic, and that continues into the fall.

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Mortgage rates break record again, down to 2.72%
• Existing home sales increase for the fifth month in a row

In today’s HousingWire Daily episode, Mike Fratantoni, the Mortgage Bankers Association’s chief economist, discusses the MBAs Mortgage Forecast, which includes revised estimates for the third and fourth quarter of 2020, as well as predictions for next year’s purchase market.

For some background on the interview, here’s a brief summary of HousingWire’s coverage on MBA’s predictions:

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• MBA predicts record purchase mortgage volume in 2021
• Mortgage forbearance rate falls 20 basis points to 5.47%

In today’s HousingWire Daily episode Digital Producer Alcynna Lloyd joins HousingWire Editor in Chief Sarah Wheeler to discuss David Stevens' recent article that examines what the housing market could look like in a Biden administration. The pair also review the Federal Housing Finance Agency’s Final Capital Rule and explore what it means for the GSEs.

For some background on the interview, here’s a brief summary of Stevens’ recent article that addresses who Biden is likely to appoint for key positions:

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Here's what to expect from a Biden administration regarding housing
• FHFA issues Final Capital Rule for Fannie, Freddie
• What a Biden victory would mean for housing

Today's HousingWire Daily features an exclusive interview with Bankrate's Senior Vice president and Chief Financial Analyst Greg McBride. In this episode, McBride discusses Bankrate's recent survey on refinancing appetite and explains why many homeowners have not considered refinancing their homes. 

Here is a small preview of today's interview with McBride. The transcript below has been lightly edited for length and clarity:

Q: According to the survey, 52% of homeowners have not considered refinancing their homes. That's a pretty high percentage. Can you explain some of the top reasons they haven't?

Greg McBride: That's a very high percentage considering this has been a year of record-low mortgage rates. There are really three reasons that people point to; one is they feel it's not going to save them enough money, second, is they say that the fees or closing costs are too high and the third most common is paperwork. They say there is too much paperwork and hassle involved in the refinancing process.

Q: Let's discuss the recently introduced refi fee that will be implemented on December 1. Bankrate's survey determined this fee is now impacting whether or not homeowners are choosing to refinance. Can you expand on this for our listeners?

Greg McBride: There's definitely a big outrage factor as far as this fee is concerned. We found that 57% of those who haven't refinanced this year claimed the fee is why they would not refinance, including 42% who said they're much less likely to refinance as a result of the fee. We've seen most lenders reflect this in pricing by tacking on about an eighth of a percentage point to the rate. It's not something that's necessarily going to have to be paid out of pocket via a fee, it's already reflected in pricing. And that pricing is such that we're still seeing record low rates. Yes, it's out there, but it doesn't dilute the benefit of refinancing, given how low rates are today.

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• FHFA delays refinance fee start date to Dec. 1
• Mortgage rates break record again, down to 2.72%

In today’s HousingWire Daily interview, features Tendayi Kapfidze, LendingTree’s chief economist, discusses how the COVID-19 pandemic has altered the nation’s home buying trends.

Here is a small preview of the interview with Kapfidze. The transcript below has been lightly edited for length and clarity.

Q: The COVID-19 pandemic has left millions of Americans financially strained as unemployment rates have climbed and job markets have shrunken. What are some impacts you’ve been following?

Tendayi Kapfidze: Around 40 million or so Americans lost their jobs or had a negative shock to their income, and as of the most recent data, there are around 20 million Americans who are still receiving some form of income support in terms of the various unemployment benefits that are out there.

 So, a lot of Americans are really under a significant financial strain. And, for many who had hoped their jobs would be coming back after a few months, that's not turning out to be the case.

 A lot of the job losses that we saw in March, April and May, are what are called temporary job losses, which means that the person who loses their job expects to get their job back within, say, six months or so. Now, even though we're seeing fewer job losses, a lot of those original jobs didn't come back and people that are losing jobs now are enduring what is called permanent job losses.

 So, we've seen a transition from temporary to permanent job losses. And that means a weak economy, going forward.

Q: According to LendingTree, 46% of those who responded to its survey indicated they were thinking about relocating within the next year. Of this total, 27% said they wanted to move to a new place in their current market, while 12% said they wanted to move to another city and 8% said they wanted to move to a new state entirely. Why are some homebuyers either choosing to remain at home or relocate to a different market?

Tendayi Kapfidze: There are a variety of reasons. For some, it’s now realizing that maybe they need more space at home, especially if they’re working from home and their kids are in remote school. The home may not offer enough space for everybody to do their work without interruptions from the rest of the family.

A lot of home buyers or home seekers, even people who are renting are looking for more space for activities they’re not doing at home. I think even after this health crisis is over, a lot of these work from home policies are going to remain. So, you know, it's a long-run view that people are probably going to need more space at home.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

Today’s HousingWire Daily episode features an interview with HousingWire Lead Analyst Logan Mohtashami. In this episode, Mohtashami discusses his recent article that examines how the recent surge in Coronavirus cases could impact the housing market this winter. In addition to sharing his thoughts on his article, Mohtashami also gives a refresher on the five indicators that show when the housing market is rebounding from COVID-19 and where they stand now.

For some background on the story and how COVID-19 has impacted the housing market, here’s a snippet of the article:

The HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• What the surge in COVID cases means for the housing market this winter
• 5 indicators that will show when the housing market is rebounding from COVID-19

In today’s HousingWire Daily episode, Realtor.com’s Senior Economist George Ratiu discusses how student loan debt is impacting the nation’s finically strained borrowers.

For some background on the interview, here’s a brief summary of HousingWire’s coverage on the student debt crisis:

HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Student loans hinder saving for a down payment, NAR finds
• With Biden win, the future of forbearance and student loans

In today’s HousingWire Daily episode HW+ Managing Editor Brena Nath joins HousingWire Editor in Chief Sarah Wheeler to discuss the most compelling articles reported from the HousingWire newsroom. Brena and Sarah discuss the recent announcement on the progress of a 2nd coronavirus vaccine and its potential impact on the housing market.

For more background on what is discussed, here is a preview of today’s interview. The transcript below has been lightly edited for length:

Q: Outside of the big news that’s trending now, is there any other piece of news right now that's piquing your interest?

Sarah Wheeler: I'm interested in how a COVID vaccine might affect interest rates, especially mortgage rates. We know we're in a low-rate environment, which is what's fueling our origination boom right now. So, I wonder if we get this under control, is the Fed still going to stick to that really low-interest rate through the end of 2021 into 2022, which is what they've said and what people are really banking on? I know they don't want to do anything. And, they've been really careful and cautious, so it's not like they want to shake anything up. I think it's going to be interesting because if in fact this vaccine makes a huge difference very quickly, which is still to be seen, I will be interested to see what that looks like for mortgage rates.

The other thing that we're really keeping an eye on is forbearance, especially with FHA forbearance. While there are a lot of people exiting forbearance with agency loans, that's not true with FHA, so we are keeping a close eye on that. I think forbearance will be the story and possibly foreclosure, but I think there's going to be more forbearance in the next six months.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• What the surge in COVID cases means for the housing market this winter
• Mortgage technology is key for lenders and title companies in 2021

In today’s Daily Download episode, Dana Wade, housing commissioner for the Federal Housing Administration and the assistant secretary for housing at the U.S. Department of Housing and Urban Development, discusses the administration’s newly released annual report, which analyzes the financial status of the mutual mortgage insurance fund for fiscal Year 2020.

For some background on the interview, here’s a brief summary of HousingWire’s coverage on the report:

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• FHA Commissioner on the MMI fund capital ratio growth to 6.1%

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss what a Biden presidency could mean for housing, as well as what the housing market could look like in 2021.

For some background on the interview, here’s a brief summary of HousingWire’s latest article on Biden’s housing agenda:

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• What a Biden victory would mean for housing
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In today’s Daily Download episode, the digital team interviews James Kleimann, HousingWire’s mortgage editor, on loanDepot’s announcement that it plans to go public.

For some background on the story, here’s a summary of the article:

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.

HousingWire articles covered in this episode:

• LoanDepot says it’s going public (for real this time)
• LoanDepot could make public debut this year at up to $15B
• Will loanDepot finally file for IPO?

In today's Daily Download episode, EasyKnock CEO Jarred Kessler joins the HousingWire Digital Team to discuss hot housing market trends in the U.S., how he thinks a second stimulus bill will impact Americans, and what may be ahead in 2021.

In this episode, Kessler also explains why he does not anticipate trends like mortgage rates rising in the upcoming year. According to him, given a struggling economy, coupled with a delayed stimulus bill which projects another four million jobs estimated to be lost, the trend may not reverse anytime soon.

Later in the episode, Kessler discusses The Commerce Department's recent home sales data and his thoughts on the housing market's lack of inventory.

"I do believe there's a low supply, but I think that drop is not as much of a result of the supply in the market," Kessler said. "It's more that you just had better months prior."

Kessler said while the housing market is on fire, he does not think the two dynamics of low-interest rates and low supply are necessarily sustainable.

"A lot of people in this country, their biggest assets are in their home, and they're going to look to have to find ways to monetize that because they're going to have no choices," Kessler said. "So those two movies, of a good housing market and a very struggling economy are going to converge, and I think people need to pay close attention to that."

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Without another stimulus package, rent delinquencies could rise
• Why is the housing market thriving in a pandemic?

In today’s Daily Download episode HW+ Managing Editor Brena Nath joins Mortgage Editor James Kleimann to discuss the most compelling articles reported from the HousingWire newsroom. Brena and James discuss president-elect Joe Biden’s election win and how it could impact the mortgage industry, as well as Rocket Mortgage’s upcoming earnings call.

For more background on what is discussed, here is a preview of today’s interview. The transcript below has been lightly edited for length:

Q: What were some of the top stories that stood out to you last week?

James Kleimann: There was only one story that happened in my mind last week and also, it happened to be one of the most well-read pieces, which is the story I did with Tim Glaze about what a Biden administration would mean for housing. There are a lot of national publications and talking heads on cable news, and they talk about the presidency, but there are very few outlets that look at it from the housing goals.

What we really wanted to do was to talk to some experts in housing and in the mortgage industry as well, and really try to get a sense of what Biden would prioritize and what would actually be achievable during his term. And that really depends primarily on what happens with the Senate. Last week, we had a lot of clarity on how the electoral votes were shaping up, but we didn't know until Saturday that it would, in fact, absolutely be Biden. But at that point, we sort of operated on the premise that we were probably going to have Joe Biden at 1600 Pennsylvania Avenue, and very likely we were going to have a Republican-controlled Senate. Unless they're able to flip Georgia, which could happen but I don't think people expect it to happen.

We really wanted to ask people what is going to happen in the first year or two of a Biden presidency, and for the most part, they said they expect a much more active CFPB, just in terms of enforcement. Another key point is Biden in particular, has talked a lot about using the strength of the federal government to push forward affordable housing initiatives, and in some cases, he might use Fannie Mae and Freddie Mac to strengthen affordable housing. In others, it could be public, private partnerships, kind of like what NYCHA is doing with private ownership in New York City.

Q: What is one article or piece of news that you think people need to be paying attention to right now?

James Kleimann: I think a lot of companies are going to be paying very close attention to what Rocket Mortgage does in their earnings call coming tomorrow at 4:30 EST. They were projecting record volume and record originations, probably a little bit lower again on sales margin this quarter, but this could be the biggest quarter for Rocket ever. It’s just a funny time because you had all of these minor events in the stock market, it was up 600 and it was down 800, it's all over the place and it spooked a lot of the other independent mortgage banks that were looking to go public.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

In today’s Daily Download episode, HousingWire’s digital team interviews HousingWire Reporter Tim Glaze and Magazine Editor Kelsey Ramirez on their respective articles that discuss how the 2020 presidential election will affect the U.S. housing industry.

The reporters examine the likely impact President Donald Trump or Former Vice President Joe Biden could have on the U.S. housing ecosystem if elected president.

During the interview, Glaze addresses how Biden's proposed $15,000 tax credit could help financially strained first-time homebuyers, while  Ramirez examines how homebuilding, housing regulation, and the fate of the GSEs will be impacted if Trump were to win a second term.

According to her, a Trump presidency would mean a continued effort toward moving the GSEs out of conservatorship.

“When Trump first came to office four years ago, he issued a declaration that he wanted the GSEs out of conservatorship and he wanted it to happen now,” Ramirez said. “He appointed FHFA director Mark Calabria, who has worked to make that happen and he's consistently said that by the time he ends his term, he wants the GSEs either out of conservatorship or well on their way out.”

Under a Trump win, Ramirez says housing regulation would continue to be a scaled-back approach.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• What a Biden victory would mean for housing
• What would a Trump win mean for housing?
• Mark Calabria: New director changes course for FHFA
• Trump signs executive order to massively roll back regulation
• The fate of Fannie and Freddie hangs in the balance