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 …
Category: Top National News
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 …
Seniors Turn to Reverse Mortgages as a Lifeline During the Coronavirus Crisis
CNBC, May 11, 2020–Ilana PolyakAccording to the Reverse Mortgage Insight, which gathers data on the industry, applications for home equity conversion mortgage, or HECM, the most common type of reverse …
Stewart’s Layoffs, Other Cost-Cutting Measures Expected to Save $60M
National Mortgage News, May 11, 2020–Brad Finkelstein (subscription)Stewart Information Services, the smallest of the four national title insurance underwriters, initiated some cost-cutting measures that will save it $60 million on …
Lenders Worry They Could be Stuck with Billions in PPP Loans
American Banker, May 11, 2020–Jim Dobbs (subscription)Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed …