Orange County Register, Aug. 20, 2020–Jeff LazersonLast week came announcements from mortgage giants Fannie Mae and Freddie Mac that an “adverse market fee” of one-half point will be added to …
Category: Top National News
HUD to Extend Foreclosure Ban Protecting 8.1 Million People Until 2021
Politico, Aug. 18, 2020–Katy O’DonnellThe ban applies to the roughly 8.1 million homeowners with single-family mortgages insured by the FHA, a HUD agency that backs loans to low- and moderate-income …
Banks Uncover Loophole to Buy Home Loans at Below-Market Prices
Bloomberg, Aug. 20, 2020–Joe LightBanks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it …
Refi Fee Will Wipe Out Millions in Mortgage Profits
American Banker, Aug. 20, 2020–Kate Berry, Bonnie Sinnock (subscription)Banks, mortgage lenders and brokers could easily end up paying hundreds of millions of dollars on refinanced loans whose fixed rates have …
1 in 4 Hotels Can’t Pay Their Mortgage
CNN Business, Aug. 19, 2020–Jordan ValinskyThe report, sent to Congress this week and compiled by Trepp, shows that the percentage of hotel loans 30 or more days delinquent is 23.4% …
A Troubling Tale of a Black Man Trying to Refinance His Mortgage
CNBC, Aug. 19, 2020–Diana OlickAkili Akridge had all the right stats: a steady six-figure salary, an 800 FICO credit score, and 20% equity in a home. He experienced firsthand the …
How are Homeowners Coping with the Coronavirus Economy? The Mortgage Market is Giving Clues
MarketWatch, Aug. 19, 2020–Sanjiv DasThe author, with Caliber Home Loans, says the decline in mortgage forbearance applications is a positive sign.https://www.marketwatch.com/story/how-are-homeowners-coping-with-the-coronavirus-economy-the-mortgage-market-is-giving-clues-2020-08-19
Struggling Businesses Push Commercial Real Estate Into the Red
Fox13 (Tampa), Aug. 19, 2020–Briona ArradondoNearly one in four hotel owners have fallen behind on paying their debts since COVID-19 reached pandemic levels. Now, commercial real estate owners and managers …
Loans For 1st-Time Homebuyers See Record Delinquencies
NPR, Aug. 18, 2020–Chris ArnoldFHA mortgages are a path to homeownership for many lower-income, minority and first-time homebuyers. But many are clearly in financial trouble. The Mortgage Bankers Association says …
Across American Cities, Evictions are Down
Bloomberg, Aug. 18, 2020–Kriston CappsBelow-average evictions during the pandemic suggest a housing crisis might look different than a projected “tsunami.”https://www.bloomberg.com/news/articles/2020-08-18/u-s-evictions-are-down-during-the-coronavirus-pandemic?srnd=premium