Zillow: Newly Unemployed Service Workers Owe $1.7 Billion/Month in Housing Payments

Zillow, Seattle, said its analysis found more than $1.7 billion in rent and mortgage payments is owed each month by U.S. service-sector workers currently receiving unemployment benefits as a result of the coronavirus pandemic — payments that could be in jeopardy if expanded local and federal unemployment assistance fades or workers remain without incomes longer than expected.

Black Knight: 1 in 10 Homeowners in Forbearance Hold 10% or Less Equity in Their Homes

Black Knight, Jacksonville, Fla., said with its analysis of borrowers in forbearance showing forbearance volumes falling for the first time since the crisis began, industry participants – especially servicers and mortgage investors – must now shift from pipeline growth to pipeline management and downstream performance of loans in forbearance.

MBA Advocacy Update: June 8, 2020

MBA remains actively engaged with decision-makers at all levels of government to help shape the response to the effects of the pandemic on the mortgage market. Last week, the Senate passed legislation that would ease restrictions on the SBA’s Paycheck Protection Program, which President Trump signed into law on Friday.

FHA, CFPB Issue New Guidance on Forbearance

The Federal Housing Administration and the Consumer Financial Protection Bureau yesterday each announced new policies to assist mortgage borrowers impacted by the economic effects of the coronavirus pandemic.

Tom Lamalfa: May 2020 Survey of Secondary Market Executives

What follows are findings from a survey of senior mortgage executives I conducted in the first half of May. Due to cancelation of MBA’s National Secondary Market Conference, this survey was completed over the phone rather than face to face, as has been the case in the 23 preceding surveys done since 2008. Normally the surveys are conducted at the secondary conference as well as at the MBA Annual Convention every October.

Tom Lamalfa: May 2020 Survey of Secondary Market Executives

What follows are findings from a survey of senior mortgage executives I conducted in the first half of May. Due to cancellation of MBA’s National Secondary Market Conference, this survey was completed over the phone rather than face to face, as has been the case in the 23 preceding surveys done since 2008. Normally the surveys are conducted at the secondary conference as well as at the MBA Annual Convention every October.