In the News

Barbara Corcoran: Inventory Is the Housing Market’s “Biggest Problem”

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On a recent appearance with Fox Business, Shark Tank star and veteran real estate expert Barbara Corcoran made headlines by calling out the housing market’s most urgent challenge: lack of inventory.

“We don’t have a price problem—we have a supply problem,” Corcoran said.

She emphasized that despite affordability concerns tied to higher mortgage rates, buyer demand remains strong—particularly in suburban and mid-market areas. What’s stopping the market from recovering, in her view, is a systemic shortage of listings.

Additional points from her remarks:

• Sellers with sub-4% mortgage rates are staying put, creating a “lock-in effect.”
• Homebuilders can’t ramp up fast enough to meet the demand, especially in entry-level price ranges.
• Inventory constraints are pushing prices higher, even in markets where buyer activity has cooled.

Takeaway for LOs: Use this as a talking point with agents—“What are you doing to encourage hesitant sellers to list this spring?” It also creates urgency for preapproved buyers—low inventory means the best homes go fast.

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Reno Housing Inventory Sees Largest Jump Since Pandemic

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In some regions, the tide may be starting to turn. According to new data from the Reno/Sparks Association of Realtors, Reno just experienced its largest month-over-month inventory increase since the COVID-19 pandemic.

Highlights from the report:

• Active listings rose 28% in March compared to February.
• Homes priced between $400,000 and $800,000 saw the largest influx of inventory.
• Days on market increased slightly, giving buyers a bit more breathing room.

Local agents say this shift reflects a gradual thawing of seller hesitation, with more homeowners deciding to list ahead of the busy spring season. While prices remain firm, the rising supply is expected to moderate bidding wars and give preapproved buyers better leverage.

Why this matters: Reno can be viewed as a microcosm of what could happen in other mid-sized U.S. metros. If inventory trends like this expand nationwide, we may see a more balanced market by mid-2025.

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NAR Appoints New Executive to Drive Innovation in Real Estate Education

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The National Association of Realtors (NAR) has named Dr. Jonathan Nichols as the new head of its Center for REALTOR® Development (CRD), signaling a renewed focus on innovation and education.

Dr. Nichols brings experience in both real estate technology and adult education, and is expected to lead several new initiatives:

• Revamping CE and pre-licensing courses to include more interactive and on-demand formats.
• Expanding microcredential and certificate programs for specialty niches (e.g., investment properties, green building, and proptech).
• Deepening partnerships with brokerages and MLSs to align training with real-time market needs.

Loan officer tie-in: This appointment is part of a larger push to modernize how agents are trained—and could lead to higher-quality conversations and expectations between agents and lenders. It’s a great time to offer value to Realtors through co-branded webinars, market updates, or CE partnerships.

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AI Adoption in Mortgage More Than Doubled in 2024, Report Shows

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A new report from Stratmor Group reveals that AI use in the mortgage industry more than doubled in 2024, with 38% of lenders now using artificial intelligence or machine learning tools, up from just 15% in 2023.

The surge in adoption includes:

• Automated income and asset verification
• Underwriting risk detection using machine learning
• Bots to handle routine processing tasks like credit pulls, VOEs, and appraisal ordering

Additionally, 48% of lenders now use robotic process automation (RPA) to streamline workflows and reduce file touches, up from 30% just a few years ago.

Nicole Yung, senior partner at Stratmor, commented:

“We’re seeing lenders prioritize front-end tech that improves borrower experience, while also investing in internal AI to increase profitability.”

For LOs, this means expect more speed—and more accountability. AI tools are improving loan file quality and shrinking the margin for error. Embrace it, or get outpaced.

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Loan Officer’s Perspective: Friday – Work On Your Business

It’s Friday, and that means we shift gears. Instead of grinding through outbound calls, you’re working ON your business today—not just in it.

Here’s how to make the most of it with today’s news:

• Review your tech stack: With AI adoption booming, take a moment to assess your CRM, lead gen tools, and automation. Are you maximizing efficiency?
• Revisit agent partnerships: With NAR reworking their educational programs, it’s a great time to plan a CE course or value-added lunch & learn. Reach out to one or two top partners.
• Evaluate your market strategy: In areas like Reno, inventory is rising. Are your buyers positioned to take advantage? What markets in your footprint are trending similarly?
• Sharpen your content: Use Barbara Corcoran’s quote about supply being the biggest issue as part of a short social media post or client email. Repurpose with your own insight to build authority.

Most importantly: make space today to plan, improve, and optimize. Next week will be about execution. Today is about strategy.

Need a proven roadmap to grow faster with structure?
Visit DailySuccessPlan.com to learn how we help loan officers generate consistent business with a simple, powerful daily system.

Mortgage Rate Forecast: Fewer Fed Cuts Ahead, Rates May Stay Higher for Longer

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This week’s update from Yahoo Finance offers a sober outlook on mortgage rates: a meaningful drop may be farther off than many hoped, as the Federal Reserve tempers its expectations for rate cuts in 2025.

According to Freddie Mac, the average 30-year fixed mortgage rate now sits around 6.64%, a modest improvement—but still well above pandemic-era lows. Market experts now predict:

• Only 1 or 2 potential rate cuts this year, versus the 3–4 previously expected.
• Sticky inflation and stronger-than-anticipated job numbers are delaying the Fed’s ability to ease.
• The Fed is watching wage growth and consumer spending closely, which are still running above the central bank’s target for easing policy.

Mortgage-backed securities (MBS) are also facing reduced demand from international buyers, adding upward pressure on mortgage rates. Even if the Fed begins to cut the benchmark rate later this year, lenders may not pass the full savings on to borrowers immediately.

What this means for borrowers: Waiting for 5% rates may not be realistic in 2025. For buyers on the fence, loan officers should help them understand what “buy now and refi later” could look like in this environment.

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Mortgage Rates Dip Slightly, Offering a Window of Opportunity for Buyers

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According to this week’s industry update, mortgage rates have dipped slightly—averaging 6.64% on the 30-year fixed—offering buyers and refinancers a window of opportunity as we move deeper into spring.

This marks the ninth straight week under 7%, a signal that while rates remain elevated, they are stabilizing in a more favorable range. Experts say:

• Kara Ng of Zillow expects rates to hold in the mid-6s throughout much of 2025, and notes this could bring more hesitant buyers off the sidelines.
• NAR’s Lawrence Yun encourages buyers to act before market pressure builds later this quarter, warning that geopolitical tensions and inflation could reverse recent progress.
• Holden Lewis at NerdWallet highlights volatility as a factor to watch—particularly around employment data and Fed language during upcoming meetings.

Inventory is also beginning to rise slightly in some markets, offering a more balanced playing field for buyers. But most analysts agree: waiting for a dramatic drop in rates could be a missed opportunity. Instead, smart buyers should focus on locking in affordability and strong terms today—and look to refinance later if conditions improve.

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Lenders Quietly Reviewing Borrower LinkedIn Profiles for Employment Verification

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In a subtle but growing trend, mortgage lenders are beginning to check borrowers’ LinkedIn profiles to verify employment history, cross-reference job titles, and detect red flags that may not appear in traditional documents.

While not a formal part of underwriting, loan officers report that LinkedIn checks are increasingly used as a supplemental verification tool, especially when:

• Pay stubs or tax returns raise questions about consistency.
• A borrower is self-employed or working in gig/freelance arrangements.
• There’s a gap in employment or recent job switch that needs clarification.

According to industry insiders, some lenders have flagged mismatches between loan files and LinkedIn data—such as differing job titles, outdated employment dates, or indications of unemployment. These inconsistencies can slow down approvals or trigger additional documentation requests.

In addition, borrower social media posts—like announcing a new job, job loss, or financial hardship—have the potential to influence perception of borrower stability, even informally.

Takeaway for loan officers: It’s worth advising clients to ensure their LinkedIn profiles are accurate, up-to-date, and aligned with their loan applications—especially for non-W-2 borrowers.

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Real Estate-Related Stock Performance (as of April 17, 2025)

• Zillow Group (ZG): $62.15 ▲ 0.5%
• Redfin Corp (RDFN): $10.02 ▲ 1.3%
• Rocket Companies (RKT): $12.76 ▼ 0.3%
• United Wholesale Mortgage (UWMC): $4.65 ▼ 0.4%
• Lennar Corp (LEN): $105.22 ▼ 0.7%
• D.R. Horton (DHI): $119.40 ▼ 0.6%

Zillow and Redfin stocks are seeing continued modest gains following their aggressive policy stances on listing transparency. Meanwhile, builders and lenders are trading slightly lower amid ongoing rate and policy uncertainty.

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Loan Officer’s Perspective: Thursday – Preapproved and Looking

It’s Thursday, and that means your focus should be on preapproved buyers—the ones actively house hunting and closest to getting under contract.

Here’s how to use today’s news to guide your calls and texts:

• Mortgage Rate Forecasts: Let borrowers know that while rates are down slightly, they’re likely to stay in the 6.5%–7% range for a while. Acting now might secure them better terms than waiting for rate drops that may never come.
• Fed Caution: Educate them on the reality—fewer rate cuts expected, and pricing pressures remain. If they’re “waiting for 5%,” help them adjust strategy.
• Borrower Profile Consistency: Especially for your self-employed clients, mention that lenders are looking more closely at LinkedIn and other professional signals. Encourage them to keep things tidy and up to date.

And of course, keep your energy high and your calls consistent. The pipeline is always built on daily discipline.

Want to simplify your outreach and build a bigger pipeline?
Visit DailySuccessPlan.com to see how we help loan officers grow with structure, focus, and a winning daily strategy.

Big Banks Advocate for Simplified Mortgage Regulations Amid Market Slowdown

Major U.S. banks are urging the federal government to streamline mortgage regulations in response to a cooling housing market. They argue that current complex rules on loan origination, servicing, and securitization are hindering lending activities. Simplifying these regulations could potentially make mortgage processes more efficient and accessible for borrowers.

The banks’ proposal includes:

• Reducing compliance burdens: Simplifying documentation and reporting requirements to expedite loan approvals.
• Enhancing clarity in guidelines: Providing clearer instructions for loan servicing to prevent defaults.
• Facilitating securitization: Making it easier to bundle and sell mortgages, thereby increasing liquidity in the housing market.

Industry experts believe that these changes could invigorate the housing market by making mortgages more accessible, especially for first-time homebuyers.

Read the full story →

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Redfin Aligns with Zillow in Banning Privately Marketed Listings

Redfin has joined Zillow in prohibiting the display of “pocket listings”—homes marketed privately before being listed on the Multiple Listing Service (MLS). This move aims to promote transparency and equal access in the housing market. While some brokerages argue that pocket listings offer flexibility for sellers, critics contend they can limit exposure and disadvantage certain buyers.

The implications of this policy shift include:

• Increased transparency: Ensuring that all potential buyers have equal access to new listings.
• Potential legal challenges: Brokerages that rely on pocket listings may contest these bans, citing seller rights.
• Market dynamics: The move could influence how homes are marketed and may lead to changes in listing strategies across the industry.

This development reflects a broader trend towards standardizing listing practices to foster fairness and openness in the real estate market.

Read the full story →

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Bay Area Housing Market Remains Resilient Despite Economic Challenges

The Bay Area housing market continues to show strength, with home prices in San Francisco rising by 2% year-over-year and sales increasing by 8.5%. Inventory levels have improved, particularly in the inner East Bay, where listings are up 48% compared to last year. Despite high mortgage rates, the market remains competitive, with homes selling faster than the national average.

Key factors contributing to this resilience include:

• Strong demand: The region’s robust job market and desirable living conditions continue to attract buyers.
• Limited supply: Despite recent inventory increases, the overall housing supply remains constrained, supporting price stability.
• Investor interest: The Bay Area remains a focal point for real estate investors seeking long-term appreciation.

These dynamics suggest that, even amid broader economic uncertainties, the Bay Area housing market maintains its vitality.

Read the full story →

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Real Estate-Related Stock Performance (as of April 16, 2025)

• Zillow Group (ZG): $61.97 ▲ 0.4%
• Redfin Corp (RDFN): $9.85 ▲ 0.6%
• Rocket Companies (RKT): $12.80 ▼ 0.4%
• United Wholesale Mortgage (UWMC): $4.67 ▼ 0.8%
• Lennar Corp (LEN): $105.96 ▼ 0.1%
• D.R. Horton (DHI): $120.69 ▼ 0.3%

Stock movements reflect ongoing adjustments in the housing market and investor responses to regulatory developments.

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Loan Officer’s Perspective: Wednesday – Engage with Past Clients and Sphere of Influence

Wednesdays are ideal for reconnecting with your past clients and broader network. Use the latest industry news to spark meaningful conversations:

• Discuss the shift in listing practices: “Have you heard about the recent changes with Zillow and Redfin banning pocket listings? It’s reshaping how homes are marketed.”
• Highlight market resilience: “Despite economic uncertainties, the Bay Area housing market remains strong. It’s a good time to consider your real estate goals.”

These discussions not only provide value but also position you as a knowledgeable resource.

For a structured approach to daily outreach and business growth, visit DailySuccessPlan.com to learn how we can help you achieve consistent success.

CoStar CEO Targets Zillow in Open Letter, Escalating Industry Battle Over Listings and Leads

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CoStar Group CEO Andy Florance has taken a bold step in the ongoing battle for dominance in the residential real estate space, sending a sharply worded letter to tens of thousands of real estate agents across the U.S. The message positions CoStar’s Homes.com platform as a clear alternative to Zillow—and paints Zillow as a threat to agent-client relationships.

In the letter, Florance outlines several key concerns:

• Lead redirection: He accuses Zillow of diverting leads away from listing agents and selling them to competing agents. This long-standing practice is a top complaint among Realtors who feel undermined by the very platforms showcasing their listings.
• Data monetization: Florance argues that Zillow’s business model is built on exploiting MLS data provided by agents, then reselling access back to the same professionals who supplied it.
• The Homes.com difference: He emphasizes that Homes.com will never sell leads and instead uses a “your listing, your lead” model—meaning all inquiries go directly to the listing agent, with no middleman or rerouting.
• Rapid growth: CoStar reports that Homes.com has now reached 100 million monthly unique users, putting it in a stronger position than ever to compete with Zillow’s estimated 200+ million.

This letter comes at a time when listing transparency and control are already under the microscope due to policy changes tied to the Clear Cooperation Policy and the aftermath of the NAR commission lawsuits.

Industry implications: Florance’s message is both a sales pitch and a rallying cry—urging agents and brokerages to choose platforms that support agent-centric models. It’s also a direct shot across Zillow’s bow, signaling that Homes.com intends to claim a much larger share of market influence in 2025 and beyond.

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Seattle Startup ‘Friday Harbor’ Raises $6M to Arm Independent Lenders with AI Tools

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Friday Harbor, a fintech startup based in Seattle, just raised $6 million in seed funding to help small and mid-sized mortgage lenders keep pace with industry giants like Rocket Mortgage and United Wholesale Mortgage. The company’s flagship platform uses artificial intelligence to automate loan file reviews and detect underwriting issues earlier in the origination process.

Founded by fintech veteran Theo Ellis, Friday Harbor’s mission is to level the playing field in mortgage lending by giving independent lenders access to enterprise-grade technology without the need for massive internal development budgets.

What Friday Harbor’s platform does:

• Automated issue detection: The system analyzes documents, income history, deposits, and credit reports to flag potential problems—such as large deposits, unverified income, or inconsistent employment data—before the file reaches underwriting.
• Reduced file “touches”: By surfacing issues earlier, loan officers and processors can reduce the back-and-forth typically needed to clear conditions, improving turn times and reducing stress.
• Enterprise traction: Friday Harbor is already working with lenders like PRMG, NewFed Mortgage, and Developer’s Mortgage Company. The startup has secured $8 million in total funding and plans to expand its integrations with LOS platforms later this year.

Why it matters: In today’s high-cost, low-margin lending environment, operational efficiency is a competitive advantage. Friday Harbor’s AI engine gives smaller lenders a way to cut costs, improve speed, and reduce repurchase risk—three factors that can make or break performance in today’s market.

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Real Estate-Related Stock Performance (as of April 15, 2025)

• Zillow Group (ZG): $61.97 ▲ 0.4%
• Rocket Companies (RKT): $12.80 ▼ 0.4%
• United Wholesale Mortgage (UWMC): $4.67 ▼ 0.8%
• Lennar Corp (LEN): $105.96 ▼ 0.1%
• D.R. Horton (DHI): $120.69 ▼ 0.3%

Markets are quiet overall, but Zillow is seeing a slight bump following the CoStar story and ongoing attention around listing control and platform dynamics.

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Loan Officer’s Perspective: Tuesday = Active Transaction Updates + Realtor Conversations

Tuesdays are the perfect time to strengthen your Realtor relationships while also making sure your active loans are moving forward smoothly.

Here’s your focus today:

• Provide status updates to all parties in current transactions—buyers, listing agents, and selling agents.
• Set expectations and proactively manage timelines on appraisal, conditions, and closings.
• Use today’s Zillow/CoStar story to spark conversations with your Realtor partners:

Suggested script:
“Hey, did you see that open letter CoStar sent out about Zillow? It’s really sparking a lot of conversation about who controls the client relationship and how platforms are treating agents these days. What are your thoughts on it? Are you seeing more activity from Homes.com in your market?”

This kind of industry-relevant discussion can:

• Deepen your value as a knowledgeable partner.
• Set you apart from loan officers who only talk about rates.
• Position you as someone who’s tuned into what matters to them.

And if you’re unsure how to structure your day or what to say, don’t forget that the Mortgage Marketing Animals’ Daily Success Plan gives you the roadmap.

Visit DailySuccessPlan.com to learn how we can help you get more business on a consistent basis—by doing the right activities, the right way, every day.

Fannie Mae has revised its mortgage rate forecast, now expecting the 30-year fixed rate to average 6.5% by year-end, higher than the previously anticipated 6.2%. This change comes as inflation continues to run hotter than expected and the Federal Reserve remains cautious about cutting interest rates too quickly.

Several economic factors are influencing the updated outlook:

• Persistent core inflation is limiting the Fed’s flexibility.
• Recent tariff expansions are adding upward pressure on consumer prices and supply chains.
• Bond yields remain high, keeping mortgage rates elevated even as home sales data softens.

This signals that mortgage rate relief may be slower and more uneven than previously hoped, with temporary dips rather than a sustained downward trend.

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China’s Retreat From U.S. MBS Market Raises Red Flags for Mortgage Rates

Analysts are sounding alarms over China’s ongoing reduction in U.S. mortgage-backed securities (MBS) holdings, which have declined nearly 9% year-over-year. This strategic move by China could reduce demand for MBS, which in turn may increase rates for U.S. borrowers.

What’s driving the change:

• China is reallocating reserves to domestic priorities and away from U.S. dollar-denominated debt.
• The shift is part of broader diversification away from U.S. assets due to geopolitical and economic concerns.
• Lower demand for MBS leads to higher yields, pushing up mortgage rates.

If this trend continues—and is followed by other global investors—it may limit how far and how fast U.S. mortgage rates can fall, even if the Fed begins to ease.

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Berkshire Hathaway Offers Key Housing Market Insights for 2025

Warren Buffett’s Berkshire Hathaway HomeServices division has shared its latest take on the state of the housing market. While the market remains challenged by affordability and inventory, there are important behavioral and structural shifts underway that loan officers should be aware of.

Key takeaways from their report:

• Buyers are adjusting expectations. Many are opting for smaller homes, fixer-uppers, or moving farther from urban cores in search of affordability.
• Financial preparedness is essential. With tighter underwriting and elevated rates, only well-qualified buyers are moving forward.
• Patience and flexibility are key. Consumers are taking longer to shop and close, often waiting for rate dips or price reductions.

This data reinforces that buyers aren’t disappearing—they’re adapting. And smart loan officers are meeting them with education, guidance, and clarity.

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Real Estate-Related Stock Performance (as of April 14, 2025)

• Zillow Group (ZG): $49.65 ▲ 1.1%
• Rocket Companies (RKT): $11.92 ▲ 0.6%
• United Wholesale Mortgage (UWMC): $6.38 ▼ 0.6%
• Lennar Corp (LEN): $105.80 ▼ 0.4%
• D.R. Horton (DHI): $92.45 ▼ 0.6%

Zillow continues to gain investor confidence through its leadership in listing transparency and consumer tools, while homebuilders dip slightly amid global uncertainty and cost concerns.

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From the Loan Officer’s Perspective: Monday = Realtor Outreach

It’s Monday, which means it’s time to kick off your week with Realtor partner calls. These are the professionals who fuel your pipeline—and they need your insight and support more than ever.

With mortgage rate uncertainty, global financial shakeups, and headlines about affordability dominating the news, now is the perfect time to:

• Check in with your Realtor partners.
• Offer them updated market talking points and rate forecasts.
• Ask them who they’re working with this week that needs financing.
• Remind them that you’re available, reliable, and proactive.

If you’re not sure who to call or what to say, reach out to the Mortgage Marketing Animals. Their Daily Success Plan gives you everything you need to hit your numbers and stay top of mind with referral partners.

Remember: The market doesn’t dictate your momentum—your consistency does.

A major front has opened in the ongoing transformation of how real estate listings are managed, shared, and accessed across the country. At the heart of it: Zillow, eXp Realty, and a renewed push to enforce the Clear Cooperation Policy (CCP)—a National Association of Realtors (NAR) rule that’s becoming increasingly controversial in the post-lawsuit era of real estate.

What Is the Clear Cooperation Policy?

Originally implemented in 2020 by NAR, the Clear Cooperation Policy requires agents who publicly market a listing to also post that listing to their local Multiple Listing Service (MLS) within one business day. The idea behind CCP is simple: ensure equal access to property listings and eliminate “pocket listings” that are quietly shopped around to private networks before going public.

However, after years of legal scrutiny, shifting business models, and evolving consumer expectations, CCP is once again in the spotlight—especially after NAR’s recent antitrust settlement and the DOJ’s ongoing review of its practices.

What Zillow Just Announced

Zillow, which controls the largest real estate listing portal in the U.S., just announced a policy change that will take effect in May 2025. Under the new rule, Zillow will no longer allow listings on its platform that are publicly marketed but not posted to an MLS within 24 hours.

In other words: if a property is advertised in any public way (signs, social media, email blasts, etc.), it must be posted to the MLS—or it will be removed from Zillow.

This is a clear alignment with NAR’s CCP, but it also signals Zillow’s growing influence as not just a listing aggregator, but a policy enforcer in the digital real estate landscape.

eXp Realty Signs On First

eXp Realty, one of the largest and fastest-growing brokerages in the country, has become the first to publicly commit to Zillow’s new listing transparency standard. eXp agents will be required to follow the 24-hour rule or risk having their listings removed from Zillow.

This sets eXp apart from some other national brokerages—notably Compass, which has continued promoting its controversial “three-phase” marketing model:

1. First market listings privately to Compass agents.
2. Then share on Compass.com.
3. Finally, post to the MLS and broader platforms.

Critics argue that this approach reduces access and favors insiders, hurting buyers and agents who aren’t plugged into these exclusive networks. Supporters say it allows sellers more control and strategic timing.

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Why It Matters: Lawsuits, Policy Shifts, and the DOJ

This new chapter in listing transparency comes in the wake of massive commission lawsuits that rocked the real estate industry in 2023 and 2024. NAR recently agreed to settle some of those cases and step back from certain cooperative compensation rules. But that’s far from the end.

The U.S. Department of Justice is actively reviewing the Clear Cooperation Policy for potential antitrust violations. If CCP is deemed overly restrictive or anti-competitive, it could be dismantled—leading to more broker-controlled, selective marketing strategies.

Meanwhile, NAR has introduced a “Delayed Marketing Exempt Listings” policy, allowing sellers to delay syndicating their listings publicly while still keeping them in MLS systems. It’s a nod to flexibility, but not a full embrace of pocket listings.

The result? A fractured industry—some firms pushing for open access, others pushing for privacy—and platforms like Zillow stepping in to fill the policy vacuum.

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What’s the Impact on Agents, Buyers, and the Industry?

• For buyers: This could lead to broader access to listings sooner—but only if large brokerages follow suit. Hidden listings reduce buyer visibility and hurt affordability by limiting choice.
• For agents and brokerages: There’s a growing divide. Firms like eXp are betting on transparency and compliance. Others, like Compass, continue to defend seller-controlled listing strategies.
• For the industry: Zillow’s decision has teeth because of its reach. With 200+ million monthly users, being removed from Zillow is a major consequence. Brokerages now face real pressure to align.

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Real Estate-Related Stock Performance (as of April 11, 2025)

• Zillow Group (ZG): $49.65 ▲ 1.1%
• Rocket Companies (RKT): $11.92 ▲ 0.6%
• United Wholesale Mortgage (UWMC): $6.38 ▼ 0.6%
• Lennar Corp (LEN): $105.80 ▼ 0.4%
• D.R. Horton (DHI): $92.45 ▼ 0.6%

Zillow’s stock continues to rise as its leadership role in listing transparency gains momentum. Builders show slight declines, tracking broader material cost concerns.

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From the Loan Officer’s Perspective: Friday = Follow-Ups and Clean-Up

It’s Friday, and that means it’s time to go back through your week and close the loop:

• Respond to leads who asked to “circle back”
• Follow up on preapprovals that stalled
• Check in with agents who’ve sent referrals or gone quiet

Today’s market is filled with noise—from lawsuits and listing rules to commission changes and platform power grabs. But your job hasn’t changed.

Guide your clients. Stay top of mind. And always be asking for the business.

If you’re unsure how to structure your outreach or what to say in today’s changing landscape, get in touch with the Mortgage Marketing Animals. Their Daily Success Plan keeps you focused and consistent—even when the industry isn’t.

Markets evolve. Policies shift. But your prospecting is always in your control.

Mortgage Rates Tick Down Slightly – Experts Predict Modest Relief Ahead

The 30-year fixed mortgage rate has dipped to 6.64%, marking its lowest point since November 2024, according to Freddie Mac. This is the ninth consecutive week that rates have remained under 7%—a stretch that’s slowly re-energizing the market.

Key insights from mortgage experts:

• Greg McBride (Bankrate): Expects rates to stay in the 6.5%–7% range unless economic indicators shift significantly.
• Kara Ng (Zillow): Predicts mid-6% rates through the remainder of 2025, with early buying activity already increasing.
• Lawrence Yun (NAR): Encourages buyers to act now, noting the current dip is the lowest in months. Warns of volatility due to GSE reform chatter.
• Holden Lewis (NerdWallet): Believes that any rate cooling may be reversed if inflation is re-ignited by trade policy or supply chain issues.

The bottom line: rates may not plummet, but modest decreases are adding momentum in both the purchase and refinance markets.

Read the full MarketWatch article →

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Fannie Mae Fires Over 100 Employees for Ethical Violations

Fannie Mae has confirmed the termination of over 100 employees following an internal investigation into unethical behavior, including cases of fraud and conduct violations. While the full details have not been disclosed, the firings reflect a firm stance from leadership on restoring integrity within the government-sponsored enterprise.

The development comes as pressure grows around the role of Fannie Mae and Freddie Mac in the housing finance system. Although operations are continuing as normal, loan officers should watch for further updates tied to regulatory or structural reforms.

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Is a New Real Estate Juggernaut Is Forming?

In March 2025, Rocket Companies, the parent company of Rocket Mortgage, announced significant acquisitions aimed at expanding its footprint in the real estate and mortgage sectors. These strategic moves include plans to acquire Redfin, a digital real estate brokerage, for $1.75 billion, and Mr. Cooper Group, the nation’s largest mortgage servicer, for $9.4 billion. ​

Understanding the Acquisitions

The acquisition of Redfin is designed to integrate Rocket’s mortgage services with Redfin’s real estate platform, creating a seamless home-buying experience. Varun Krishna, CEO of Rocket Companies, emphasized that this move aligns with their goal of building an integrated platform encompassing home search and mortgage origination. ​

Similarly, the purchase of Mr. Cooper Group aims to bolster Rocket’s mortgage servicing capabilities. This merger will result in a combined servicing portfolio of over $2.1 trillion, representing approximately one in six mortgages in the United States. The integration is expected to generate annual synergies of around $500 million through increased revenue and cost savings. ​

Market Share Considerations

While these acquisitions significantly enhance Rocket’s market presence, it’s essential to contextualize their impact:​

• Mortgage Origination: In 2024, Rocket Mortgage originated $101 billion in loans, while Mr. Cooper originated $22.8 billion. Even combined, this total remains below United Wholesale Mortgage’s $139 billion in originations during the same period.
• Mortgage Servicing: Post-acquisition, Rocket will service approximately $2.1 trillion in mortgages. However, this still accounts for only about 16% of the total U.S. mortgage market, indicating that a substantial portion remains serviced by other entities. ​

Implications for Loan Officers

The consolidation of services under Rocket Companies may raise concerns among independent loan officers about increased competition from a vertically integrated giant. However, several factors suggest that the impact may be less disruptive than feared:​

1. Market Fragmentation: The real estate and mortgage industries remain highly fragmented, with numerous players and localized dynamics. Rocket’s expanded platform represents a significant entity but does not dominate the entire market.​
2. Consumer Preferences: Many homebuyers value personalized service and local expertise, areas where independent loan officers excel. Building strong relationships within local communities can provide a competitive edge that large, centralized platforms may lack.​
3. Adaptation and Differentiation: Independent loan officers have the opportunity to differentiate themselves by offering tailored solutions, exceptional customer service, and leveraging local market knowledge. Emphasizing these strengths can help maintain and even grow market share despite the entrance of larger competitors.​

Conclusion

While Rocket Companies’ acquisitions of Redfin and Mr. Cooper represent notable shifts in the real estate and mortgage landscape, they do not signal an immediate or overwhelming threat to independent loan officers. By focusing on personalized service, local expertise, and adaptability, loan officers can continue to thrive and meet the diverse needs of homebuyers.

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Real Estate-Related Stock Performance (as of April 10, 2025)

• Rocket Companies (RKT): $11.85 ▲ 1.3%
• United Wholesale Mortgage (UWMC): $6.42 ▲ 0.9%
• Zillow Group (ZG): $49.10 ▲ 0.7%
• Lennar Corp (LEN): $106.20 ▲ 0.7%
• D.R. Horton (DHI): $93.00 ▲ 0.8%

Investors are responding favorably to rate relief and early signs of a more active spring market.

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From the Loan Officer’s Perspective: Thursday = Preapproved and Looking

There’s a lot happening—rates dipping, GSE leadership shakeups, and major tech shifts. But through it all, your power lies in action.

It’s Thursday, which means your focus is on your preapproved and actively shopping clients. These borrowers are the most likely to fund in the next 30 to 60 days—but only if you stay in touch.

If you’re unsure who to call or what to say, connect with the Mortgage Marketing Animals. Their Daily Success Plan and proven scripts will keep your activity high and your pipeline full.

Need some help with call reluctance and building confidence to make your call? We’ve got you covered. Grab a free consultation with our team. CLICK HERE.

Markets shift. Conditions change. But consistency always wins.

In its newly updated forecast, Forbes provides a detailed outlook on where the U.S. housing market stands as of spring 2025. The report outlines both persistent challenges—such as high prices, tight inventory, and affordability concerns—and potential turning points that could create new opportunities for homebuyers and real estate professionals in the coming months. Read the full Forbes article →

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Key Takeaways from the Forbes Report:

Home Prices Continue to Rise, But the Pace Is Slowing

U.S. home prices posted a 4.1% annual gain in January, according to the S&P CoreLogic Case-Shiller Index—up slightly from 3.9% in December. While this represents ongoing growth, experts say the pace is decelerating, particularly in areas with stronger construction activity like the South and West.

Importantly, many Midwestern markets remain relatively affordable due to their modest pandemic-era appreciation. Regional variations are creating localized affordability pockets, offering opportunity for strategic buyers and real estate professionals targeting those areas.

Affordability Is Still a Barrier for Many Buyers

Although mortgage rates have cooled slightly—averaging 6.76% in late February—the typical monthly payment for a new homeowner sits at $1,854, up from $1,841 just a year earlier. Over a 30-year loan, that modest $13 monthly difference equates to nearly $7,200 more in payments.

According to Attom’s Q1 2025 data, homes are considered unaffordable in 97% of U.S. counties, with the average homeowner now spending 32% of their income on housing—well above the 28% benchmark lenders prefer. In short, affordability remains a serious hurdle, especially for first-time buyers and lower-income households.

Existing and New Home Sales Show Early Signs of Life

There are encouraging signs of market movement. Existing-home sales jumped 4.2% in February as inventory rose 5.1% month-over-month and 17% year-over-year. However, activity still hovers near 30-year lows, according to NAR chief economist Lawrence Yun.

New home sales also ticked up in February, rising 1.8% month-over-month and 5.1% from a year earlier. But builders are cautious. Tariffs and rising construction costs threaten to slow momentum unless resale inventory continues growing—forcing builders to compete on pricing and incentives.

Pending home sales, a forward-looking indicator, rose 2% in February, hinting at a thaw—but annual pending sales remain down 3.6%, reflecting continued buyer hesitation.

What Would It Take for a True Recovery?

According to industry experts quoted in the article, two key shifts must happen for a housing recovery to take hold:

1. A Significant Inventory Increase: More listings—either from new construction or from homeowners willing to sell—would ease price pressure and give buyers more negotiating power.
2. Lower Mortgage Rates: Experts suggest a return to the 4–5% range would dramatically loosen the market. However, this is unlikely in the near term, especially given persistent inflation and the weight of national debt, which could keep rates elevated.

As Keith Gumbinger of HSH.com warns, if rates fall too quickly, a surge in demand could negate inventory gains and drive prices back up—a delicate balance the market will need to manage.

External Events Are Already Influencing Local Markets

Some markets are shifting faster due to external pressures. For example, wildfires in the Los Angeles metro have pushed up both rents and home prices. In Washington, D.C., job cuts and return-to-office mandates have increased listings, altering supply dynamics.

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From the Loan Officer’s Perspective: Discipline Wins, Regardless of Market Conditions

It’s clear from this detailed Forbes report that the housing market remains complex. Rates are high. Prices are rising. Inventory is tight. And affordability remains a national concern.

But here’s the good news: your business doesn’t depend on perfect conditions. It depends on your consistency.

Whether the market heats up or cools down, your most important job is to stay connected to your referral partners, leads, and clients. Stick to the Mortgage Marketing Animals’ Daily Success Plan.

This is what separates top performers from those waiting for the “right” market. Because top producers know:

It’s not about the market. It’s about your actions. Let others obsess over headlines. You focus on your pipeline—and you’ll win no matter what the market does.

Mortgage Rates Experience Fluctuations Amid Tariff Uncertainty

Mortgage rates have seen notable fluctuations recently, influenced by economic uncertainties stemming from new tariffs. The average 30-year fixed-rate mortgage increased from 6.60% to 6.82% on Monday, marking the most significant single-day rise this year. These changes reflect market reactions to ongoing trade tensions and their potential impact on the economy.

Tariffs Expected to Increase New Home Construction Costs

Recent tariffs imposed by the U.S. government are projected to raise the cost of building new homes by an average of $9,200. This increase is attributed to higher prices for imported construction materials, including lumber and gypsum. The National Association of Home Builders (NAHB) estimates that these tariffs will significantly impact housing affordability and supply, particularly in states with a high volume of new constructions.

Counterpoint: Exemptions and Market Adjustments May Mitigate Cost Increases

However, some developments may help offset these cost increases. The U.S. government has confirmed exemptions from new tariffs on Canadian and Mexican construction materials, notably softwood lumber, which is a critical component in homebuilding. Canada supplies about 85% of U.S. softwood lumber imports, and this exemption is seen as a significant benefit by the NAHB. Additionally, exemptions for Mexican imports cover essential materials like gypsum, concrete, and appliances. These exemptions have led to a positive response in the market, with leading homebuilders experiencing stock gains between 3-5%

Furthermore, a recent decline in mortgage rates offers a potential counterbalance to the increased construction costs. The 30-year fixed-rate mortgage has fallen to its lowest point since October 2024, driven by investor shifts to safe-haven Treasury bonds amid economic uncertainty. This decrease in borrowing costs could enhance home affordability, potentially offsetting some of the price increases resulting from higher construction expenses.

Public Sentiment and Reactions

The public reaction to these developments is mixed. While there is concern over the potential rise in home prices due to increased construction costs, the exemptions on certain materials and the drop in mortgage rates provide some optimism. Prospective homebuyers and industry professionals are closely monitoring these factors to assess their combined impact on housing affordability and market dynamics.

Real Estate-Related Stock Performance

As of April 8, 2025, publicly traded real estate and mortgage companies have shown varied performance:​

• Lennar Corporation (LEN): Trading at $105.50, down 1.2% from the previous close.​
• D.R. Horton (DHI): Trading at $92.30, down 0.9%.​
• Zillow Group (ZG): Trading at $48.75, up 0.5%.​

These movements reflect investor responses to current housing market conditions and economic policies.​

Positive Insights for Loan Officers

Despite the challenges posed by increased construction costs due to tariffs, loan officers can identify opportunities to assist clients:​

• Leverage Lower Mortgage Rates: The recent decline in mortgage rates enhances affordability for potential homebuyers. Loan officers can guide clients to take advantage of these favorable borrowing conditions.​
• Highlight Exempted Materials: Inform clients about the exemptions on certain construction materials, which may help moderate overall building costs and keep some new homes within reach.
• Emphasize Long-Term Investment Value: Despite short-term cost fluctuations, real estate remains a valuable long-term investment. Loan officers can reassure clients about the enduring benefits of homeownership.​

By focusing on these areas, loan officers can navigate the current market landscape effectively and provide valuable services to their clients.

If you’re not tapping into the First Time Home Buyer market, you’re leaving a huge opportunity on the table. They make up about 35% of all mortgage loans every year—that’s a ton of business you could be grabbing.

Today on The Complete Loan Officer hosted by Carl White at Mortgage Marketing Animals, Carl is going to break down exactly how to find and market to First Time Home Buyers. And here’s the kicker:

Carl’s also giving away his First Time Home Buyers Guide—a powerful resource you can brand to yourself or co-brand with your realtor partners. It’s a killer way to attract new clients and strengthen your referral relationships.

When: Today at 2pm ET (for MMA members)
Where: MortgageMarketingAnimals.com > Classes

Also, if you missed yesterday’s State of the Mortgage Industry webinar, you’ll want to catch the replay ASAP. Over 2,000 LOs registered and it maxed out the Zoom meeting—the information couldn’t be more timely.

 Watch the replay here: Watch it here

And don’t forget—tomorrow on the Loan Officer Breakfast Club, we’ve got Chris Johnstone from LoanOfficerCRM.ai showing us how to build systems and processes within your CRM to skyrocket your efficiency.

Jump on our free Zoom call tomorrow from 8:30am to 9:00am ET at LoanOfficerBreakfastClub.com.