GlobeSt.com, Oct. 22, 2020–Kelsi Maree BorlandThere is tremendous industry support for affordable housing projects. Institute of Real Estate Management, the Mortgage Bankers Association and National Association of Realtors have all …
Category: Top National News
Housing Boom: Sales of Million-Dollar Homes Double
NPR, Oct. 22, 2020–Chris ArnoldA lot more homes would be selling if there was more inventory, says Mike Fratantoni, the chief economist for the Mortgage Bankers Association. “The primary constraint …
Mortgage Servicers Seek to Reach Distressed Borrowers ‘Ghosting’ Them
National Mortgage News, Oct. 22, 2020–Bonnie Sinnock (subscription)“I think we’re all kind of puzzled by customers who haven’t raised their hands for help,” Dana Dillard, executive vice president at Mr. …
Mortgage Rates Fall to Yet Another Historic Low
Washington Post, Oct. 22, 2020–Michele LernerThe average rate on the 30-year mortgage rate fell to another record low last week amid the release of new housing data reinforcing how the …
Why The Mortgage Refinance Window Could Close in the Coming Months
BankRate, Oct. 22, 2020–Jeff OstrowskiAmerican homeowners will refinance mortgages worth nearly $1.8 trillion this year as they lock in historically low rates. However, the window of opportunity for refinancing into …
Uniformity Will be Critical to RON Adoption
HousingWire, Oct. 21, 2020–Kelsey RamírezAs the mortgage industry moves toward increasing adoption of remote online notarization, a panel of experts at the Mortgage Bankers Association Annual conference said uniformity will …
U.S. Economic Recovery Slow and Modest, But Some Sectors Struggling: Fed Survey
Reuters, Oct. 21, 2020–Jonnelle MarteThe U.S. economy continued to recover at a slight to modest pace through early October as consumers bought homes and increased spending, but the picture varied …
Homebuyers’ Wallets Hammered as Prices for Plywood Substitute Spike
Bloomberg, Oct. 21, 2020–Marcy NicholsonAmericans are coughing up $4,600 more on average to buy their dream home than six months ago — thanks to a record run-up in prices for …
In a Bid for Stability, FHFA and FHA Extend Forbearance Policies
HousingWire, Oct. 21, 2020–Alex RohaThe extension means some borrowers may not exit forbearance until Dec. 31.https://www.housingwire.com/articles/in-a-bid-for-stability-fhfa-and-fha-extend-forbearance-policies/
Sorry Lenders: FHFA, GSE Officials Say Mortgage Refi Fee is on Track
National Mortgage News, Oct. 21, 2020–Bonnie Sinnock (subscription)There’s been hope among lenders who sell loans to the government-sponsored enterprises that a pending 50-basis-point refinance fee that’s been postponed could be …