Mortgage Professional America, Aug. 31, 2020–Ryan SmithRep. Maxine Waters (D-Calif.), chair of the House Financial Services Committee, who together with Rep. William Lacy Clay (D-Mo.) had earlier spoken blisteringly of …
Category: Top National News
Non-Agency Loans are in Need of Forbearance Assistance Too
Mortgage News Daily, Aug. 31, 2020–Jann SwansonAsurvey by the National Housing Resource Center found that 530,000 homeowners have become delinquent since the pandemic began despite being eligible for forbearance. About …
Non-Qualified Mortgages are Coming Back, But with Tighter Guidelines
National Mortgage News, Aug. 28, 2020–Brad Finkelstein (subscription)Non-qualified mortgage originators are crawling back into the marketplace, but the lack of uniformity around forbearance policies is triggering concerns with securities purchasers …
Improvement in Coronavirus Mortgage Bailout Stalls, As More Borrowers Struggle to Make Payments
CNBC, Aug 28, 2020–Diana OlickAfter improving markedly in July, the number of borrowers struggling to make their monthly mortgage payments has essentially flatlined and now threatens to move higher.https://www.cnbc.com/2020/08/28/improvement-in-coronavirus-mortgage-bailout-stalls.html
FHFA Extends Fannie, Freddie COVID-Policies Through September
Connect Media CRE, Aug. 28, 2020The Federal Housing Finance Agency (FHFA) has extended Fannie Mae’s and Freddie Mac’s COVID-19-related policies through Sept. 30. “Both the origination flexibilities and the program …
How Many Refinances are You Allowed in a Pandemic?
Orange County Register, Aug. 27, 2020–Jeff Lazersonhere are no legal limitations. But there are a lot of lender fake-outs and roadblocks that might make it harder for you to become …
With Second Stimulus Checks on Hold, Americans Spend Less at the Grocery Store
Wall Street Journal, Aug. 27, 2020–Annie Gasparro, Jawon Kang (subscription)Grocery shoppers are cutting back on spending, data show, a sign that Americans are hurting for cash as the federal unemployment …
Late Rent and Mortgage Payments Rise
New York Times, Aug. 27, 2020–Michael KolomatskyNearly six months into the pandemic, the share of American homeowners and renters who have missed or been late with their monthly housing payments …
Meadows Predicts No Stimulus Bill Until End of September
Bloomberg, Aug. 26, 2020–Erik Wasson, Justin SinkWhite House Chief of Staff Mark Meadows predicted there will be no stimulus deal with Congress until the end of September. “If we got …