National Mortgage News, May 6, 2020–Bonnie Sinnock (subscription)Some benefits are materializing from Fannie Mae’s pledge to limit servicers’ exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of …
Category: Top National News
FHA Gives Borrowers Another Solution For Mortgage Relief
National Mortgage Professional, May 6, 2020–Navi PersaudFHA has come up with another way to help borrowers who are struggling to pay their mortgages during the COVID-19 pandemic. FHA is giving …
Democrats Revisit Stimulus Bill’s Tax Breaks for Businesses
Wall Street Journal, May 6, 2020–Richard Rubin (subscription)As Congress begins considering the next round of economic-relief legislation, some lawmakers are pressing to revisit a decision to give unprofitable companies more …
Weekly Mortgage Applications Show Recovery in Homebuying, As Interest Rates Hit Another Record Low
CNBC, May 6, 2020–Diana OlickTotal mortgage application volume rose 0.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The gain was driven …
Updated Fannie Mae Lender Letter Suspends Rep and Warrant Relief Through DU, Expands RON
HousingWire, May 5, 2020–Phil HallFannie Mae has issued a Lender Letter to its single-family sellers that updated the temporary policies enacted on March 31 in response to the COVID-19 crisis …
Signals of a Rebound in Buyer and Renter Demand
Washington Post, May 6, 2020–Michele LernerData from Google search traffic and home sales and rental websites indicate that after searches related to apartments and requests to view homes dropped in …
Layoffs Start Turning From Temporary to Permanent Across America
Bloomberg, May 6, 2020–Shawn Donnan, Joe DeauxPlenty of layoffs that just a month ago were labeled “temporary” are now tagged “indefinite” or “permanent.” Alongside announcements of sweeping staff cuts by …
Coronavirus Takes Bite Out of New Residential’s First Quarter Results
National Mortgage News, May 5, 2020–Brad Finkelstein (subscription)But Black Knight and Arch Capital’s mortgage insurance business aren’t as affected, at least so far.https://www.nationalmortgagenews.com/news/black-knight-1q-2020-earnings-analyzed
Agencies are Cutting Access to Mortgage Data for Low-Income Borrowers
Mortgage News Daily, May 5, 2020–Jann SwansonTwo Urban Institute analysts have raised an alarm about changes to federal regulations that threaten to limit access to important data about the mortgage …
U.S. Household Debt Reaches Yet Another Record on Home Loans
Bloomberg, May 5, 2020–Alexandre Tanzi, Shahien NasiripourAmericans increased their borrowing for the 23rd straight quarter to a total of $14.3 trillion, according to the Federal Reserve Bank of New York, …