HousingWire, Aug. 20, 2020–Julia Falcon“Contrary to much of the criticism we have received since making this announcement, this will generally not cause mortgage payments to ‘go up.’” the letter states. …
Category: Top National News
Buyers Will Spend More, But Probably Be Stressed Out
National Mortgage Professional, Aug. 19, 2020–Keith GriffinOriginators take note: you might be able to convince your clients to take out bigger mortgages. A new survey shows almost two-thirds of Americans …
Multifamily Loan Originations Expected to Fall By 40%
GlobeSt.com, Aug. 21, 2020–Kelsi Maree BorlandWhile the capital markets are moving again, loan activity has been significantly impacted by the pandemic. Multifamily loan originations will likely fall by 40% this …
Coming Soon to Your Refi: A Half-Point Fee that Could Add $2,500 or More to Costs
Orange County Register, Aug. 20, 2020–Jeff LazersonLast week came announcements from mortgage giants Fannie Mae and Freddie Mac that an “adverse market fee” of one-half point will be added to …
HUD to Extend Foreclosure Ban Protecting 8.1 Million People Until 2021
Politico, Aug. 18, 2020–Katy O’DonnellThe ban applies to the roughly 8.1 million homeowners with single-family mortgages insured by the FHA, a HUD agency that backs loans to low- and moderate-income …
Americans Mixed On Buying A Home In 2020
National Mortgage Professional, Aug. 20, 2020–Navi PersaudDespite record unemployment, 30% of Americans say 2020 is the ideal time to purchase a home, according to a report from The Simple Dollar. …
Banks Uncover Loophole to Buy Home Loans at Below-Market Prices
Bloomberg, Aug. 20, 2020–Joe LightBanks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it …
Mortgage Rates Move Higher for Second Straight Week But Remain Below 3 Percent
Washington Post, Aug. 20, 2020–Kathy OrtonMany factors influenced mortgage rates this week — the Federal Reserve minutes, U.S. Treasury auction and encouraging economic data in retail sales and home builder …
How Economic Data Has Been Distorted During COVID-19
Marketplace, Aug. 2020–Janet NguyenThroughout the COVID-19 crisis, there’s been a proliferation of data as people pay greater attention to the monthly jobs reports and unemployment claims during this time of …
Refi Fee Will Wipe Out Millions in Mortgage Profits
American Banker, Aug. 20, 2020–Kate Berry, Bonnie Sinnock (subscription)Banks, mortgage lenders and brokers could easily end up paying hundreds of millions of dollars on refinanced loans whose fixed rates have …