MarketWatch, May 20, 2020–Jacob PassyFannie Mae and Freddie Mac issued temporary guidance stipulating that borrowers will be eligible to refinance or buy a new home if they are in a …
Category: Top National News
Mortgage Bankers Renew Push for a Market-Wide Liquidity Facility
National Mortgage News, May 20, 2020–Bonnie Sinnock (subscription)Mortgage Bankers Association President and CEO Robert Broeksmit on Tuesday reiterated his call for a broad coronavirus-related liquidity facility akin to Ginnie Mae’s, …
Refi Boom Fuels Hiring by Mortgage Firms During the Downturn
HousingWire, May 19, 2020–Phil HallAt a time when unemployment levels are rising to heights not seen since the Great Depression, the mortgage industry is among the relatively few sectors outside …
5 Ways the CFPB Has Eased Industry’s Coronavirus Burden
American Banker, May 18, 2020–Kate Berry (subscription)The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished …
$500 Billion Treasury Fund Meant for Coronavirus Relief Has Lent Barely Any Money So Far, Oversight Commission Finds
Washington Post, May 18, 2020–Erica WernerThe money was supposed to be used to help prop up large segments of the U.S. economy at a time when millions of Americans had …
Ginnie Mae Adjusts Deinquency Rate Measure to Address Forbearance
National Mortgage News, May 18, 2020–Bonnie Sinnock (subscription)Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers’ need to fulfill the forbearance requirements in …
Mortgage Relief Was Offered, But at a High Price
Washington Post, May 18, 2020–Michelle SingletaryHomeowners who fell behind on mortgage payments were told they had to come up with enormous lump sums at the end of their forbearance. It …
J.C. Penney Store Closings Coming; Retailer Trying to Avoid Liquidation in Chapter 11 Bankruptcy
USA Today, May 16, 2020–Nathan Bomey, Kely TykoThe department store chain filed for bankruptcy Friday and is asking a federal judge to authorize the rejection of 20 leases in the …
Mortgage Relief That Comes With a $4,000 Bill
New York Times, May 16, 2020–Tara Siegel BernardBorrowers with privately held mortgages don’t have the same options as those with government-backed loans. Some are being told they can skip payments, …
Can Unemployment Numbers Predict the Number of Mortgages That Will Go into Forbearance?
Urban Institute, May 15, 2020–Laurie Goodman, Michael Neal, Jung Hyun ChoiThe authors explain why estimating how many of the 33.4 million borrowers who have government-backed mortgages will ask for forbearance …