CNBC, July 24, 2020–Diana Olickefinance volume has been incredibly strong this year, with applications last week up 122% annually, according to the Mortgage Bankers Association.https://www.cnbc.com/2020/07/24/mortgage-rates-just-hit-another-record-low.html
Category: Top National News
Wave of Evictions Could Be Coming for Nation’s Renters
The Hill, July 24, 2020–Niv Elis, J. Edward Moreno The federal moratorium on evictions signed into law in March as part of the CARES Act is set to expire Friday …
Owner of Ann Taylor and Lane Bryant Files for Bankruptcy
New York Times, July 23, 2020–Gillian Friedman Sapna MaheshwariAscena Retail is the latest retailer to fall during the pandemic. The disappearance of 1,600 of its 2,800 stores is a fresh …
Super-Low Mortgage Rates: a Blessing or Ominous Sign of Next Housing Downfall?
Orange County Register, July 23, 2020–Jeff LazersonUnless you are sticking it out for the long haul, sell your house now. Or, refinance into these rock-bottom rates if you are sticking …
Ginnie Mae Mortgage Bonds Saddled by Forbearance and Buyout Risk
Bloomberg, July 23, 2020–Christopher MaloneyHomeowner forbearance requests in Ginnie Mae-backed mortgages have led to elevated buyouts and weighed on their performance, a trend that may continue through summer’s end.https://www.bloomberg.com/news/articles/2020-07-23/ginnie-mae-mortgage-bonds-saddled-by-forbearance-and-buyout-risk?srnd=premium
Senate Amendment Cuts Expansion of VA Mortgage Funding Fee
HousingWire, July 23, 2020–Kathleen HowleySen. Jerry Moran’s amendment reduced some of the spending in the bill and cut the extension of the higher fees to an extra one year and …
CoreLogic Posts Higher Earnings, Hikes Guidance in Wake of Hostile Bid
National Mortgage News, July 23, 2020–Brad Finkelstein (subscription)Other moves it is undertaking include business divestitures and increased dividends while defending against a takeover attempt.https://www.nationalmortgagenews.com/news/corelogic-posts-higher-earnings-hikes-guidance-in-wake-of-hostile-bid
Redfin: Over 27% Of Homebuyers Look To Move Out Of Town
National Mortgage Professional, July 23, 2020–Navi PersaudA report from Redfin found that 27.4% of its website’s users looked to move to another metro area during the second quarter of 2020. …
GOP Won’t Seek Payroll-Tax Cut in Coronavirus Relief Package
Wall Street Journal, July 23, 2020–Andrew Restuccia, Andrew Duehren, Kristina Peterson (subscription)Senate Republicans delayed the release of the party’s coronavirus relief proposal as GOP lawmakers and the White House strained …
More Wells Fargo Customers Say the Bank Decided to Pause Their Mortgage Payments Without Asking
NBC News, July 22, 2020–Gretchen MorgensonBorrowers in at least 14 states have told courts, lawyers or NBC News that they have been forced into forbearance plans by Wells Fargo: Alabama, …