Mortgage applications edged up slightly from a week earlier as the 30-year fixed interest rate fell to another record low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending May 1.
Category: News and Trends
Industry Briefs
Ginnie Mae, Washington, D.C., issued All Participants Memorandum 20-05 (APM 20-05), announcing expansion of its Issuer assistance programs in response to the coronavirus pandemic.
FHFA Extends Loan Processing Flexibilities for GSE Customers; Offers Tools for Renter Protection
The Federal Housing Finance Agency yesterday extended several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac designed to help borrowers during the COVID-19 pandemic. FHFA also announced the government-sponsored enterprises have created online multifamily property lookup tools designed to assist renters in learning about eviction protections.
MBA Premier Member Profile: DataVerify
(One in a continuing series of profiles of Premier Members of the Mortgage Bankers Association.)
MISMO Issues Standardized Closing Instructions
MISMO, the Mortgage Industry’s Standards Maintenance Organization, announced issuance of standardized closing instructions.
People in the News
Homespire Mortgage, Gaithersburg, Md., announced Shondra B. Jenkins joined its team as Director of Philanthropy and Community Engagement, to further develop and enhance its corporate social responsibility programs and outreach.
Brenda Colter: Branch Advocacy Beyond Onboarding is Just the First Step
We need branch advocates who step in and support branches after onboarding concludes. A branch advocate is an expert on how the company works. They are a single point of contact who collaborates with every department to remove obstacles, provide quick resolutions to requests and help with future growth opportunities.
MBA Education Path to Diversity Scholar Profile: Christa Thomas
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
MBA: Share of Mortgage Loans in Forbearance Increases to 7.54%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed loans now in forbearance increased from 6.99% of servicers’ portfolio volume in the prior week to 7.54% as of April 26. According to MBA’s estimate, 3.8 million homeowners are now in forbearance plans.
For Remodeling Market Outlook, an ‘Abrupt About-Face’
The coronavirus pandemic is taking its toll on many sectors of the housing market—and according to the Joint Center for Housing Studies of Harvard University, the previously solid home remodeling market is about to take a hit as well.