National Mortgage News, May 13, 2020–Bonnie Sinnock (subscription)While not without its challenges, remote work has largely kept mortgage companies running while minimizing health risks from the coronavirus. It has also …
Category: Top National News
Biden Backs Rent, Mortgage Forgiveness During Coronavirus Pandemic
The Hill, May 13, 2020–Sylvan LaneFormer Vice President Joe Biden, the presumptive Democratic presidential nominee, on Wednesday backed rent and mortgage forgiveness for those struggling to get by during the …
Powell’s Grim Coronavirus Warning Likely to Make Mortgages Even Cheaper
Yahoo! Finance, May 13, 2020–Doug WhitemanFederal Reserve Chairman Jerome Powell is warning that the economy is in for a slow and uncertain recovery from its coronavirus recession — and that …
Mortgage Applications from Buyers Jump 11%, Signaling the Spring Housing Market May Not Be a Total Loss
CNBC, May 13, 2020–Diana OlickBuyer demand kept mortgage application in the positive last week, up 0.3% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. …
Banks Tore up Digital Scripts Once Pandemic Hit
American Banker, May 12, 2020–Allissa Kline (subscription)U.S. Bancorp, Wells Fargo, WSFS and others were already deeply engaged in digital transformations before the coronavirus crisis led them to pivot — quickly.https://www.americanbanker.com/news/banks-tore-up-digital-scripts-once-pandemic-hit
Fed’s Powell to Assess Next Phase of Pandemic Recovery
Reuters, May 13, 2020–Howard Schneiderederal Reserve Chair Jerome Powell, having overseen the rapid creation of the central bank’s massive network of pandemic-era programs, turns his attention Wednesday morning to where …
Non-QM Borrowers Weathering COVID-19 Well
Mortgage Professional America, May 12, 2020–Ryan SmithWhile many non-QM lenders have hit pause on new originations due to the economic impacts of COVID-19, non-QM borrowers seem to have been weathering …
Lenders Race to Keep Up With Requests for Consumer-Debt Relief
Wall Street Journal, May 13, 2020–AnnaMaria Andriotis (subscription)Borrowers face jammed phone lines and overwhelmed customer-service departments.https://www.wsj.com/articles/lenders-race-to-keep-up-with-requests-for-consumer-debt-relief-11589362202?mod=hp_lead_pos5
Forbearance Becomes a ‘Scarlett Letter’ on Credit Reports
HousingWire, May 12, 2020–Kathleen HowleyMortgages in forbearance as a result of COVID-19 have to be reported as “current” on credit reports. But, it turns out there’s a workaround that can …
Next Generation Of Asian American And Pacific Islander Homebuyers To Face Challenges
National Mortgage Professional, May 12, 2020–Navi PersaudThe Asian Real Estate Association of America has published new data that revealed a series of unique challenges that may lie ahead for the …