Bloomberg, July 23, 2020–Christopher MaloneyHomeowner forbearance requests in Ginnie Mae-backed mortgages have led to elevated buyouts and weighed on their performance, a trend that may continue through summer’s end.https://www.bloomberg.com/news/articles/2020-07-23/ginnie-mae-mortgage-bonds-saddled-by-forbearance-and-buyout-risk?srnd=premium
Category: Top National News
Senate Amendment Cuts Expansion of VA Mortgage Funding Fee
HousingWire, July 23, 2020–Kathleen HowleySen. Jerry Moran’s amendment reduced some of the spending in the bill and cut the extension of the higher fees to an extra one year and …
Super-Low Mortgage Rates: a Blessing or Ominous Sign of Next Housing Downfall?
Orange County Register, July 23, 2020–Jeff LazersonUnless you are sticking it out for the long haul, sell your house now. Or, refinance into these rock-bottom rates if you are sticking …
Are Servicers Ready for When Forbearance Ends?
HousingWire, July 23, 2020–Robyn A. FriedmanWith the Mortgage Bankers Association reporting that 7.8% of all mortgage loans were in forbearance as of July 12 – translating into 3.9 million homeowners …
FHFA’s Capital Rule Is a Step Backward
Urban Institute, July 22, 2020–Jim Parrott, Bob Ryan, Mark ZandiThe authors summarize and critique FHFA’s recent capital proposal for Fannie Mae and Freddie Mac, concluding that it misapplies the bank …
Cracks Begin to Show in Multifamily Lending
American Banker, July 22, 2020–Laura AlixMultifamily has been one of the most reliable and best-performing commercial real estate sectors in recent years, benefiting from mass migration to cities and a …
Democratic Bills Would Bar GSEs from Charging Forbearance Fees
National Mortgage News, July 22, 2020–Neil Haggerty (subscription)Sen. Bob Menendez, D-N.J., unveiled the Promoting Access to Credit for Homebuyers Act on Wednesday. The bill would require the two government-sponsored enterprises, …
The Feared Jumbo Mortgage Debacle is Here–Thanks to the Coronavirus…
MarketWatch, July 22, 2020–Keith JerowWhat has been largely overlooked are the mounting problems of wealthier homeowners with jumbo mortgages. They have also been slammed by the lockdowns.https://www.marketwatch.com/story/the-feared-jumbo-mortgage-debacle-is-here-thanks-to-the-coronavirus-and-ready-to-pound-the-housing-market-2020-07-22
Commercial/Multifamily Mortgage Debt Increased 1.7 Percent in the First Quarter of 2020
Commercial Property Executive, July 22, 2020–Jamie WoodwellAccording to the Mortgage Bankers Association’s most recent Commercial/Multifamily Mortgage Debt Outstanding quarterly report, the level of commercial/multifamily mortgage debt outstanding rose by $61.0 …
Over Half Of Mortgage Borrowers Lost Income During Pandemic
National Mortgage Professional, July 21, 2020–Keith GriffinLending Tree said 53% of mortgage borrowers in the United States have lost income during the pandemic. About 4 in 10 mortgage borrowers said …