Philadelphia Inquirer, Aug. 21, 2020–Michaelle BondBorrowers with loans backed by Fannie Mae and Freddie MAc who haven’t locked in their rates can expect an average of $1,000 to $1,500 to …
Category: Top National News
22 Million Renters and Owners of Manufactured Homes Are Mostly Left Out of Pandemic Assistance
Urban Institute, Aug. 21, 2020–Jung Hyun Choi, Laurie GoodmanThe researchers explain that the lower incomes and service-focused jobs of the 22 million people who live in manufactured homes make them …
How to Win a Bidding War
UExpress, Aug. 21, 2020–Lew SichelmanWith mortgage rates falling below 3% for the first time in five decades, would-be homebuyers are chomping at the bit to get out there and find …
More than Three Dozen Fed Alumni Urge Senate to Reject Judy Shelton
The Hill, Aug. 20, 2020–Sylvan LaneIn an open letter published Thursday, 38 former officials of the Fed and its reserve banks asked senators to reject Shelton’s nomination to serve as …
Fannie Mae and Freddie Mac CEOs Address Industry on Refinance Fee Grievances
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. …
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. …