HousingWire Daily – Details, episodes & analysis

On today’s episode, Editor in Chief Sarah Wheeler talks with Reporter Brooklee Han about four title companies settling kickback charges, more problems with real estate forms, and the companies looking to replace agents with AI. Related to this episode: Four title firms settle kickback charges in D.C. But they’re not RESPA violations | HousingWire Are AI real estate agents the future for homebuyers? These firms think so | HousingWire HousingWire | YouTube Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about home prices hitting an all-time high even while mortgage rates stay elevated. Related to this episode: Home prices hit another record high in June | HousingWire HousingWire | YouTube Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, managing editor James Kleimann talks to reporter Brooklee Han about the impending NAR settlement changes going into effect this weekend. Related to this episode: Commission Lawsuit | HousingWire America’s top listing agents don’t want to deal with the buyer’s agent commission mess | HousingWire To sue or not to sue: How buyer's agents should prepare for commission disputes with clients | HousingWire HousingWire | YouTube Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, Editor in Chief Sarah Wheeler talks with Chris McEntee, vice president of product and corporate development at ICE Mortgage Technology, about the current state of digital adoption as seen in the use of eNotes, and what the next stage of adoption might look like. Related to this episode: Ice Mortgage Technology The Gathering HousingWire’s YouTube Channel Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

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

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

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

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

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

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