Housing News Podcast: Finance of America Mortgage’s Bill Dallas on innovation and housing supply
The Housing News Podcast is a weekly wrap of the top news stories by HousingWire CEO Clayton Collins.
Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Arch MI.
This week, Bill Dallas, the president at Finance of America Mortgage and co-founder of Cloudvirga, discusses his evolution in the mortgage industry, as well as the importance of creating innovative products for today’s mortgage brokers and lenders.
Additionally, Dallas touches base on the nation’s lack of housing inventory and how the rise of homeowners aging in place is impacting origination volumes.
Here’s more detail on the topics of discussion this week:
Housing professionals and economists repeatedly assert that American homeowners are staying in the same houses longer and provide a few theories as to why. One such theory is the rate lockdown thesis. It claims that Americans are staying in their homes longer to keep their lower mortgage rates.
The month of December saw the largest year over year decline of housing inventory in almost three years, with inventory declining 12%, according to realtor.com. This decline has left the lowest number of homes available for sale since January 2018, according to the December 2019 Housing Trends Report.
And here are links to the topics discussed:
1) Why are people staying in their houses for so long?
2) Housing inventory falls to a two-year low