MReport May 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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64 | TH E M R EP O RT FINAL THOUGHTS Ups and Downs From an inventory shortage and intensifying competition to temporary loan-origination flexibilities and remote workforces, industry leaders are talking about victories and challenges. "severe shortage" Ed Brady, Home Builders Institute President and CEO, on roadblocks to fulfilling housing demand due to a lack of skilled workers. "forced to compromise" Daryl Fairweather, Redfin's Chief Economist, regarding increased competition from out-of-town home shoppers. "saved lives" Mark Calabria, Federal Housing Finance Agency Director, on the results of provisional COVID-19-related loan flexibilities and foreclosure moratoria. "rooted in fairness" Marcia Fudge, Secretary of the U.S. Department of Housing and Urban Development, on goals for HUD in 2021. "siloed" Mark Palim, Fannie Mae's VP and Deputy Chief Economist, on the drawbacks of lending professionals working remotely, as they begin to feel cut off from their teams.

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