National Mortgage Professional, May 29, 2020Black Knight’s latest McDash Flash Forbearance Tracker shows that forbearance volumes have flattened over last week’s totals, as of May 26, 4.76 million homeowners are …
Category: Top National News
Federal Reserve Ramps Up Deliberations on Asset Purchases, Rate Guidance
Wall Street Journal, May 29, 2020–Nick Timiaros (subscription)Federal Reserve officials head into their next policy meeting deliberating how to assist an economy in a deeper hole than it faced after …
Demand for Mortgage Bailout Slows to a Trickle Despite Continuing Coronavirus Fallout
CNBC, May 29, 2020–Diana OlickDespite record-high unemployment and massive economic fallout from the coronavirus pandemic, fewer homeowners appear to be struggling to make their monthly mortgage payments now than at …
Housing Market is Unexpected Stalwart in Pandemic Shutdown
Bloomberg, May 29, 2020–Prashant GopalStuck day and night in their homes, a surprising number of Americans are deciding the pandemic is a great time to upgrade.https://www.bloomberg.com/news/articles/2020-05-29/housing-market-is-unexpected-stalwart-in-the-pandemic-shutdown
Most Lenders Have Tightened the Rules
UExpress, May 29, 2020–Lew SichelmanMortgage rates have slipped even lower. But lenders have tightened their underwriting rules to the point where only the best prospects — those with the most …
How Coronavirus Could Alter Fed’s Thinking about Stress Tests
American Banker, May 28, 2020–Hannah Lang (subscription)The general structure of this year’s reviews is unchanged despite the pandemic. But a supplemental analysis of banks’ response to the downturn could weigh …
Hurricane Season and Coronavirus Could Compound Mortgage Distress
National Mortgage News, May 28, 2020–Paul Centopani (subscription)In addition to the potential wave of mortgage defaults resulting from coronavirus-driven forbearances, hurricane season could put nearly 7.4 million homes worth $1.8 …
These Lenders Made it Confusing for Many to Get Coronavirus Relief, Watchdog Says
Los Angeles Times, May 28, 2020–Erin B. LoganMillions of American homeowners who are eligible for relief under the CARES Act were provided inconsistent or confusing information by more than two …
Hopeful Homeowners Should Watch Mortgage Market, Not Treasuries
Bloomberg, May 28, 2020–Christopher MaloneyFor Americans hoping to buy a home or refinance the one they’re in at ever-lower rates, the mortgage TBA (to-be-announced) market is where one must look. …
Quicken, United Shore Hiring Thousands Amid Low Interest Rates
Detroit News, May 28, 2020–Breana NobleDetroit-based Quicken Loans Inc. and Pontiac-based United Shore Financial Services LLC — the largest originators of home mortgages in the United States — said Thursday …