The Mortgage Bankers Association and a broad real estate coalition on Friday commended measures President Biden has taken to stabilize the housing sector and urged the administration to sunset the federal moratorium on evictions on June 30.
Tag: Coronavirus
One-Third of Millennial Homebuyers Using Extra Savings from Pandemic for Down Payment
For nearly one-third (31%) of millennial first-time homebuyers, the ability to save extra money during the coronavirus pandemic helped them accumulate the money needed for a down payment, said Redfin, Seattle.
MBA Asks 6-Month Delay of Debt Collections Proposed Rule Effective Date
The Mortgage Bankers Association, in a May 19 letter, asked the Consumer Financial Protection Bureau to delay the effective date of its final rule amending the Fair Debt Collection Practices Act.
Nick Volpe: A Brief History of Defects; Q3 2020’s Loan Quality Performance Sets Stage for Areas of Concern in 2021
Lenders have a great deal to learn from their post-closing quality control analyses, even more so given the market disruptions and macroeconomic impact of COVID-19.
Millennials, Gen Z More Than Twice as Likely to Delay Financial Milestone Due to COVID-19
Although an increasing number of U.S. adults have been vaccinated and look forward to resuming pre-pandemic activities, a new Bankrate.com survey indicates that nearly two in five (39%) individuals have delayed a financial milestone because of the pandemic.
HUD: FHA Mutual Mortgage Insurance Fund Programs on Track; No Plans to Change Premiums
HUD released its quarterly report to Congress on the FHA Single-Family Mutual Mortgage Insurance Fund Programs. The report said the MMIF stands at more than $80 billion and remains well above the 2% minimum capital reserve required by Congress.
Positive Signs Even as Many Household Incomes Still Negatively Impacted by COVID-19
U.S. consumers continue to be negatively impacted one year since the onset of COVID-19, although TransUnion, Chicago, reported positive signs in its latest Consumer Pulse study.
Rana Fleming of Genworth Mortgage Insurance on Critical Role Homeowner Assistance Programs Play During a Pandemic
Rana Fleming is Director of Homeowner Assistance and Servicer Reporting with Genworth Mortgage Insurance, Raleigh, N.C. She joined Genworth in 2012.
FHFA Extends COVID-19 Multifamily Forbearance through June 30
The Federal Housing Finance Agency announced Thursday that Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners through June 30, subject to the continued tenant protections FHFA imposed during the pandemic. The programs were set to expire March 31.
CFPB Proposes Delay of QM Final Rule Mandatory Compliance Date to Oct. 2022
The Consumer Financial Protection Bureau on Wednesday issued a notice of proposed rulemaking to delay the mandatory compliance date of the General Qualified Mortgage final rule by more than a year, from July 1 to Oct. 1, 2022.