Urban Institute, Dec. 2, 2020–Michael Neal, Caitlin YoungBorrowers who are delinquent but not in forbearance are “unprotected homeowners,” and large share of them live in predominantly Black and Hispanic neighborhoods.https://www.urban.org/urban-wire/delinquent-homeowners-neighborhoods-color-are-less-likely-be-protected-forbearance
Category: Top National News
Mortgage Refinancing Wave is Not Letting Up, to Investors’ Chagrin
Bloomberg, Dec. 2, 2020–Christopher MaloneyMortgage investors will carry unpleasant memories of this year’s surging prepayment speeds, yet as the calendar flips there appears little chance of near-term relief. While this …
The Covid Pandemic Could Cut Business Travel by 36%—Permanently
Wall Street Journal, Dec. 1, 2020–Scott McCartney (subscription)Even if Covid-19 vaccines become widespread, business travel is likely to be changed by the pandemic. Travel budgets have been slashed and some …
A New Mortgage Refinancing Fee Begins Today. Here’s What You Should Know
Forbes, Dec. 1, 2020–Natalie CampisiAlthough the 0.5% fee, known as the “adverse market refinance fee,” will be added to any new refinanced mortgages completed beginning [Dec. 1], some borrowers who …
CFPB Gives Go-Ahead to Firms Seeking Advisory Opinions
National Mortgage News, Nov. 30, 2020–Neil Haggerty (subscription)The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish …
Why VA Loans May be the Best Pathway to Homeownership for Veterans
Washington Post, Dec. 1, 2020–Michele LernerDespite about 8 in 10 VA buyers purchase with $0 down, VA loans have had the lowest foreclosure rate on the market for most of …
CMBS 2020 Volume Clocks In At an Eight-Year Low of $53B
GlobeSt.com, Nov. 30, 2020–Les ShaverCommercial and multifamily mortgage loan originations, including CMBS, commercial banks, life insurance companies and the GSEs, were 47% lower as of Q3 2020 compared to a …
Congress Needs to Provide Eviction and Mortgage Relief Now Before the Coming Crisis
Washington Post, Nov. 30, 2020–Jim Parrott, Mark ZandiThe authors said lawmakers should not simply delay the moment of reckoning for families struggling to cover their housing costs, but help them …
FHFA Extends Endorsements of Mortgages in Forbearance through Year-End
National Mortgage News, Nov. 30, 2020–Bonnie Sinnock (subscription)The extension of the FHA’s willingness to conditionally endorse loans with suspended payments came amid a renewed push by public and private entities …
Verus Mortgage Capital Doubles Down On Confidence In Non-QM Market
National Mortgage Professional, Nov. 30, 2020–Navi PersaudIn early August, Verus Mortgage Capital decided to re-enter the non-QM lending space. Since then, the company has introduced a number of new products …