This article is intended as an overview of key steps in submitting and obtaining PPP loan forgiveness. It is based on guidance from the SBA, current as of the date of publication, and is merely a general overview. Lenders should always consult with their own legal advisor and check for new or updated guidance.
Category: News and Trends
With Elections Looming, Sharp Divisions in the Political Landscape, But Hope for Common Ground
The 2020 elections are less than six months away—and political divisions in America appears to be more prevalent than ever. Judging from appearances yesterday at MBA Live: State of the Industry, that won’t change soon.
Paul Fischer of Paradatec on What Mortgage Servicers Can Expect in Months Ahead
Paul Fischer is Director of Professional Services with Paradatec, Cincinnati. The company’s website is https://www.paradatec.com/.
Commercial/Multifamily Briefs
Hudson Oak Development, New York and Greenville, S.C., launched an opportunity fund targeting development opportunities and value-add to core-plus properties in southern and Mid-Atlantic markets with strong fundamentals that will support sustained occupancy and rent growth.
Mortgage Applications Drop in MBA Weekly Survey
Mortgage applications fell for the first time in three weeks—although purchase applications remained strong—the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending May 15.
April Housing Starts Follow Now-Familiar COVID-19 Pattern
Housing starts, which fell by more than 22 percent in March, fell by another 30 percent in April to the lowest level since 2013 as the economic effects of the coronavirus pandemic slammed home.
FHFA Announces Refi/Home Purchase Eligibility for GSE Borrowers in Forbearance
Fannie Mae and Freddie Mac issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.
FHFA Announces Refi/Home Purchase Eligibility for GSE Borrowers in Forbearance
Fannie Mae and Freddie Mac issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.
Dealmaker: M&T Realty Capital Corp. Closes $59M for Multifamily, Office Assets
M&T Realty Capital Corp., Baltimore, closed a $51.2 million Freddie Mac Optigo conventional loan for The Elms at Arcola, a 248-unit Sterling, Va. apartment property.
‘MBA Is Meeting this Crisis Head-On’
WASHINGTON, D.C.—“These are no normal times.” With those words, Mortgage Bankers Association Robert Broeksmit, CMB, not only described the past few months, but also set the tone for the future of the real estate finance industry and life in general.