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Housing industry readies to meet fast-growing demand

Housing industry readies to meet fast-growing demand

FromHousingWire Daily


Housing industry readies to meet fast-growing demand

FromHousingWire Daily

ratings:
Length:
6 minutes
Released:
Jun 2, 2020
Format:
Podcast episode

Description

In today’s Daily Download episode, HousingWire Digital Producer Alcynna Lloyd covers an announcement from the Mortgage Industry Standards Maintenance Organization.For some background on the story, here’s a summary of the article:The Mortgage Industry Standards Maintenance Organization, or MISMO, a subsidiary of the Mortgage Bankers Association that sets rules for handling the registration of home loans, announced Monday it would assess a new fee for every origination.The fee is just 75 cents per mortgage, but that would add up to more than $4.4 million a year if all purchasers used a home loan, based on Fannie Mae’s projection of 5.8 million sales of new and existing homes in 2021. And, that doesn’t include refinanced mortgages.The fee will be collected by the Mortgage Electronic Registration Systems when it registers a new loan on its system The announcement cited the COVID-19 pandemic and the need to advance technology for electronic mortgages, including remote notarization, although the new fee was approved by the MBA board in October. Following the main story, Housingwire discusses a report from PropertyNest that indicates more New York renters are falling behind on rent, three mortgage lenders that are pumping up their hiring volume, and a survey from the National Association of Realtors that claims homebuyers and sellers are ready to return to open houses. But before you listen, here’s a brief word from our sponsor.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:MISMO will charge a new fee for every loan registered on MERSThe number of New Yorkers who can’t pay rent this month has doubledThree mortgage leaders pump up the hiring volumeHomebuyers and sellers are ready to return to open houses
Released:
Jun 2, 2020
Format:
Podcast episode

Titles in the series (100)

HousingWire Daily examines the most compelling mortgage, real estate, and fintech articles reported across HW Media. Each afternoon, the HW team provides our listeners with a deeper look into the stories that are helping Move Markets Forward. Hosted and produced by the HW Media team.