A key provision of the CARES Act is the Paycheck Protection Program (PPP), which authorizes small businesses to apply for loans guaranteed by the Small Business Administration. PPP loans can be forgiven, either in whole or part, under certain conditions. This article is intended as an overview of key steps in submitting and obtaining PPP loan forgiveness.
Tag: Coronavirus
FHFA, FHA Extend Foreclosure/Eviction Moratorium to June 30
The Federal Housing Finance Agency said yesterday it would extend its moratorium for Fannie Mae- and Freddie Mac-based single-family mortgages until at least June 30.
FHFA, GSEs Offer Payment Deferral as Repayment Option for COVID-19 Forbearance Plans
The Federal Housing Finance Agency yesterday said Fannie Mae and Freddie Mac will employ a new payment deferral option allowing borrowers in COVID-19 related forbearance, who are able to return to making their normal monthly mortgage payment, the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity.
Paul Fischer of Paradatec on What Mortgage Servicers Can Expect in Months Ahead
Paul Fischer is Director of Professional Services with Paradatec, Cincinnati.
Mark Dangelo: Innovation Thinking—Winning in an Uncertain Future
The financial services and mortgage industries have not felt the full impact and unintended consequences of COVID-19 and the governmental interventions. The result will be that innovation disruption moving forward will be not be kind, will not be benevolent, and will not be industry friendly.
FHFA, GSEs Offer Payment Deferral as Repayment Option for COVID-19 Forbearance Plans
The Federal Housing Finance Agency yesterday said Fannie Mae and Freddie Mac will employ a new payment deferral option allowing borrowers in COVID-19 related forbearance, who are able to return to making their normal monthly mortgage payment, the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity.
Paul Fischer of Paradatec on What Mortgage Servicers Can Expect in Months Ahead
Paul Fischer is Director of Professional Services with Paradatec, Cincinnati.
Purchase Applications Drive Increase in MBA Weekly Survey
Mortgage applications edged up for the second straight week, driven by strong purchase application activity, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending May 8.
Mark Dangelo: Innovation Thinking—Winning in an Uncertain Future
The financial services and mortgage industries have not felt the full impact and unintended consequences of COVID-19 and the governmental interventions. The result will be that innovation disruption moving forward will be not be kind, will not be benevolent, and will not be industry friendly.
MBA Reports Rise in 1st Quarter Mortgage Delinquencies
Mortgage delinquencies rose in the first quarter as the economic effects of the coronavirus pandemic began to take hold, the Mortgage Bankers Association reported this morning.