National Mortgage News, Apr. 6, 2020–Kate Berry (subscription)Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury …
Category: Top National News
Fed Preparing to Purchase New Small Business Payroll Loans
Wall Street Journal, Apr. 6, 2020–Kat Davidson, Nick Timiraos (subscription)The Federal Reserve said Monday it would create a new program to finance loans that banks and other lenders make through …
Wells Fargo Suspends Jumbo Mortgages as Demand Fades
Inman, Apr. 6, 2020–Lillian Dickerson (subscription)In this uncertain market, demand for jumbo mortgages is declining as more homeowners seek forbearances and investors look to more secure loans during the Covid-19 …
PennyMac Warns Mortgage Originators that Forbearance Buybacks Could be Coming
HousingWire, Apr. 6, 2020–Ben LaneLate last week, PennyMac, which grew last year into the largest mortgage aggregator in the country, told its correspondent originators that it will not buy any …
Housing Market Shows First Signs of Trouble from Pandemic
MarketWatch, Apr. 6, 2020–Jacob PassyMarch started out as a strong month for the U.S. housing market — but by the second half of the month, the first indications that the …
Can Housing Construction Lead the Economy Out of Recession?
Mortgage Professional America, Apr. 6, 2020–Candyd MendozaAside from replenishing the national inventory, building new homes might also play a vital role in bringing the US economy back to health once …
Forbearance 2020: Standing on the Precipice
HousingWire, Apr. 5, 2020–David Stevens“By virtually eliminating any barrier to entry to obtain forbearance, policymakers have created outrageous moral hazard with potential costs that are unfathomable,” says former FHA Commissioner …
The ‘Forgotten Cog’ in the Real Estate Machine During Coronavirus
National Mortgage News, Apr. 3, 2020–Paul Centopani (subscription)As the mortgage and real estate industries traverse the challenges of the increasingly digital coronavirus landscape, title agents and their integral part of …
Mortgage Firms Teeter Near Crisis that Regulators Saw Coming
Bloomberg, Apr. 3, 2020–Joe LightNonbank financial firms spent years lobbying against tougher regulation and stricter capital requirements, arguing that their emerging dominance in mortgage lending didn’t pose a risk to …
Homeowners Hurt by COVID-19 Can Delay Mortgage Payments, But Some Say They’re Anxious and Confused about the Real Cost
USA Today, Apr. 6, 2020–Jessica MentonAmericans struggling to pay their mortgages because they’ve lost a job or income during the coronavirus pandemic can put off that bill for up to …