MReport June 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 3 M R EP O RT | 3 CO NTE NTS SPECIAL REPORT 13 COVID-19: THE INDUSTRY RESPONDS MReport continues to follow the spread of the virus and its impact on the mortgage industry. FEATURES 20 THE TWO SIDES OF AFFORDABILITY Low-interest rates are giving many a boost in achieving homeownership, however, the spread of COVID-19, rising home prices, and falling inventory are turning the American Dream into a nightmare. 26 A HOMEBUYER'S MINDSET AMIDST A PANDEMIC How have attitudes toward the homebuying process changed due to the coronavirus, and what does this mean for lenders moving forward? 29 EXPERT INSIGHTS 2020 Had 'So Much Momentum': The onset of COVID-19 disrupted what was turning into a productive year for housing. 30 EXPERT INSIGHTS Preparing for a Crisis: Carissa Robb, President and COO of Constant, discussed how the Great Recession differs from the current downturn and how AI, automation, and technology can assist in the hardship process. 32 THE RIGHT TO A HOME Military veterans seeking homeownership received relief in the form of the Blue Water Navy Vietnam Veterans Act of 2019. 34 LESSONS LEARNED FROM THE GREAT RECESSION How looking back at the last recession can help the housing and mortgage industries to better prepare the industry moving forward. 39 REFINANCE BOOM TO CONTINUE? Could record-low rate drop further, possibly near 3%? Joe Tyrrell, COO, Ellie Mae, delves into the current refinance boom and if millennials can achieve homeownership in this market. DEPARTMENTS 4 MTECH Lending in a Digital World 9 MDWELL Metros Where Inventory is Falling 10 MCROWD Who's moving on and who's moving up in the industry.

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