Morning Roundup (2/1/2022)– Crowded Out Of The Market, New Home Record

Good Morning! Today is February 1, 2022. Moderna’s Spikevax won full FDA approval for adults 18 and up, making it the second fully approved Covid-19 vaccine. Pfizer is planning to ask the FDA to authorize its vaccine for children under 5. A prosecutor dropped the last criminal inquiry into sexual misconduct allegations against Andrew Cuomo.

The Mortgage Note Reports

Getting Pushed Out Of The Housing Market? You’re Not Alone: Low-income and minority buyers will continue to be crowded out of the housing market in 2022, according to the director of research at the AEI Housing Center.

Home Showings Skyrocket: Showing traffic rose 11.5% YOY in December 2021 as buyers continued scouring the market for a new home.

New Construction Record: More than a third of US single-family homes for sale in December were newly built, the highest share ever recorded, Redfin reported.

And in other mortgage and housing news…

Challenges Ahead: 2022 may shape up to be a busy and challenging year for mortgage lenders. “Finding the right loans for their clients might become more challenging this year compared to last,” Paresh Raja, chief executive of Market Financial Solutions, said.

MultiGen Homes: A new study ranks the best US cities for multigenerational families looking for a new home.

Freddie’s Offer: Freddie Mac announced that it has commenced a fixed-price cash tender offer for the purchase of STACR Debt Notes.

Letter To HUD: Housing advocacy groups, mortgage lenders, and banks sent a letter to Lopa Kolluri critiquing HUD’s proposed policies on defect taxonomy for loan servicing reviews. 

Effects Of “Easy Money”: The Fed’s decision to step back is rippling through the mortgage market, driving up the cost of buying a home, the Wall Street Journal reports.

Calabria Accused: Former FHFA director Mark Calabria allegedly paid a Fannie Mae executive an illegal $250,000 “bonus” under the guise of a retention award.

Forced To Move: Recent rental price increases have been sharper and more widespread, forcing millions of Americans to reassess their living situations.

“A Shell Game”:Why are manufactured homes underperforming in an affordable housing crisis?

PropTech: ATTOM lists four of the best property technology solutions for the housing industry in 2022.