Wall Street Journal, May 14, 2020–David Harrison (subscription)The economic shock stemming from the coronavirus pandemic hit lower-income households first and immediately left them much worse off, according to a new …
Category: Top National News
Fannie-Freddie Forbearance Rule Sows Fears of Mortgage Hangover
Bloomberg, May 14, 2020–Joe Light, Shahien NasiripourThe snafu has been triggered by the hastily drafted $2.2 trillion stimulus bill that Congress passed in March. But the law didn’t address long-standing …
Biden Backs Rent, Mortgage Forgiveness During Coronavirus Pandemic
The Hill, May 13, 2020–Sylvan LaneFormer Vice President Joe Biden, the presumptive Democratic presidential nominee, on Wednesday backed rent and mortgage forgiveness for those struggling to get by during the …
MBA: ‘Inevitable’ Increase in Mortgage Delinquency Rate Is Upon Us
MortgageOrb, May 13, 2020–Michael BatesThe delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.36% of all loans outstanding at the end of …
Lenders Race to Keep Up With Requests for Consumer-Debt Relief
Wall Street Journal, May 13, 2020–AnnaMaria Andriotis (subscription)Borrowers face jammed phone lines and overwhelmed customer-service departments.https://www.wsj.com/articles/lenders-race-to-keep-up-with-requests-for-consumer-debt-relief-11589362202?mod=hp_lead_pos5
Non-QM Borrowers Weathering COVID-19 Well
Mortgage Professional America, May 12, 2020–Ryan SmithWhile many non-QM lenders have hit pause on new originations due to the economic impacts of COVID-19, non-QM borrowers seem to have been weathering …
Forbearance Becomes a ‘Scarlett Letter’ on Credit Reports
HousingWire, May 12, 2020–Kathleen HowleyMortgages in forbearance as a result of COVID-19 have to be reported as “current” on credit reports. But, it turns out there’s a workaround that can …
Mortgage Delinquency Rate Jumps with Forbearance Tallied as Overdue
HousingWire, May 12, 2020–Kathleen HowleyThe U.S. mortgage delinquency rate jumped during the first quarter in a report from the Mortgage Bankers Association that counts forbearances as late payments. The share …
Some Homeowners are Getting Mortgage Bailouts by Mistake, and It’s Keeping them from Refinancing
CNBC, May 12, 2020–Diana OlickMore than 4 million homeowners are now delaying their monthly mortgage payments as part of both government and private lender relief programs – but some have …
Why the Most Affordable Homes Increased the Most in Price Between 2000 and 2019
Urban Institute, May 12, 2020–Jung Hyun Choi, John Walsh, Laurie GoodmanThe report said nationally, from January 2000 to December 2019, prices for the lower-priced homes increased 126.2 percent, compared to …