MBA: Home Equity Lending Growth Hindered by Alternative Products and COVID-19
Home equity loan debt outstanding and borrower utilization rates declined in 2019 and mortgage lenders anticipate originations to fall again this year before increasing modestly in 2021, the Mortgage Bankers Association reported.
FHFA: Multifamily Owners in Forbearance Must Inform Tenants of Eviction Suspension, Tenant Protections
The Federal Housing Finance Agency announced Thursday multifamily property owners with mortgages backed by Fannie Mae or Freddie Mac who enter into a forbearance agreement must inform their tenants about protections during the property owner's forbearance and repayment periods.
One-Quarter of Homebuyers Are Moving–Or Moving Sooner Than Planned–Due to Pandemic
Redfin, Seattle, said three-quarters of homebuyers who plan to buy a home within the next 12 months say the coronavirus pandemic has changed their homebuying plans.
MBA, Others Ask Congress to Avoid Adding New Credit Reporting Provisions
The Mortgage Bankers Association joined other associations to ask Congress to refrain from adding new credit reporting provisions that may negatively affect consumers as Congress considers new COVID-19 response legislation.
