HousingWire, Apr. 5, 2020–Sarah WheelerFifteen financial industry trade associations and affordable housing advocate groups issued a joint statement on Saturday calling on the Federal Housing Finance Agency, the Federal Reserve …
Category: Top National News
Number of Homes Taken Off Market Doubles Due to Coronavirus
HousingWire, Apr. 3, 2020–Julia FalconIn the midst of record-high unemployment claims and economic uncertainty, supply is declining now more than ever, according to a report from Redfin, as homeowners are …
Certain Mortgage Jobs are Bearing Up as Coronavirus Spreads
National Mortgage News, Apr. 3, 2020–Bonnie Sinnock (subscription)Nonbank mortgage employment estimates show payrolls in February leveled off after an unusually strong winter, but anecdotal reports of selective hiring persisted through …
Jumbo Mortgage Market Disappearing as Lenders Shun Risk
Bankrate.com, Apr. 3, 2020–Ellen ChangThe jumbo loan market is shrinking as some mortgage lenders are facing a liquidity crunch. It’s the perfect storm for lenders as millions of homeowners are …
Thanks To COVID-19, FHA Mortgage Lending Gets Stricter
Forbes, Apr. 3, 2020–Aly J. YaleThe COVID-19 pandemic has forced lenders’ hands when it comes to FICO score minimums. As more and more Americans lose their jobs or see reduced …
Struggling Borrowers Want To Pause Their Mortgage Payments. It Hasn’t Been Easy
Wall Street Journal, Apr. 3, 2020–Orla McCaffrey, Andrew Ackerman (subscription)Struggling homeowners are flooding their mortgage companies with requests for help as the coronavirus pandemic wrecks the economy. Many are having …
Kushner Company Stands to Benefit from Freeze on Federal Mortgage Payments
Politico, Apr. 3, 2020–Maggie StevensWith more than $800 million in federally backed properties, Kushner Companies could reduce its payments to zero under provisions of the recovery bill.https://www.politico.com/news/2020/04/03/jared-kushner-company-benefit-recovery-bill-162652
The Role of IMBs in the U.S. Mortgage Market
International Banker, Apr. 3, 2020–Robert Broeksmit, CMBMBA President and CEO writes about how independent mortgage bankers filled the void when large banks and community banks pulled away from the mortgage …
Property Bets Lose Curb Appeal in the Age of Coronavirus
Wall Street Journal, April 3, 2020–Stephen Wilmot (subscription)Landlords face protracted negotiations with tenants over rent payments while the doors to shops, restaurants, hotels and gyms remain shut.https://www.wsj.com/articles/property-bets-lose-curb-appeal-in-the-age-of-coronavirus-11585906227
Public-Private Partnerships are Key to Helping Consumers Navigate Confusing Times
HousingWire, Apr. 2, 2020–Bill EmersonFormer MBA Chairman says when functioning at its best, the mortgage industry works in partnership with lenders, servicers, real estate agents and housing counselors, all collaborating …