NEWS: MBA Says Buyers Will Return by Summer as Lockdown Ends

Buyers Will Return

Jann Swanson May 15, 2020 The Mortgage Bankers Association (MBA) says applications for financing new home purchases were down 25 percent in April compared to March and by 12 percent year-over-year. This data from MBA’s Builder Application Survey (BAS) does not include any adjustment for typical seasonal patterns. “New home purchase applications severely weakened in April, which…

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NEWS: What does the mortgage industry’s post-pandemic future hold?

Post Pandemic

Three prominent mortgage industry leaders predict pent-up demand and a still-percolating purchase market will blossom in the post-pandemic weeks Phil Hall April 24, 2020 The challenges facing the mortgage industry were raised by three prominent industry leaders during a webinar sponsored by the National Association of Minority Mortgage Brokers of America. Kristy Fercho, president of mortgage…

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NEWS: Home Prices Rising Despite Coronavirus

Home Prices Rising

Mike Sorohan April 22, 2020 Several reports this week suggest despite the crippling effect the coronavirus has had on the spring housing market, home prices continue to increase. Below is a quick summary: Radian: Home Prices Up 5.8% Annually in March Radian, Philadelphia, said its Home Price Index showed home prices across the United States…

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NEWS: FHFA, CFPB Announce Borrower Protection Program

Borrower Protection

MBA Newslinks April 16, 2020 The Federal Housing Finance Agency and the Consumer Financial Protection Bureau announced the Borrower Protection Program, a joint initiative that enables CFPB and FHFA to share servicing information to protect borrowers during the coronavirus national emergency. Under the program, the CFPB will make complaint information and analytical tools available to…

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NEWS: IMBs are the path to recovery, not the problem

IMB are path to recovery

David Stevens April 10, 2020 This has been an alarming thing to watch play out in real time. In the middle of a global pandemic, the administration and Congress passed sweeping legislation that could rock the foundation of the nation’s nonbank mortgage servicing for years to come. And while all of us “arm chair quarterbacks”…

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NEWS: New York state reverses prohibition on in-person showings, appraisals

Reverse Prohibition

Sarah Wheeler April 1, 2020 New York state announced Wednesday that it will allow those in real estate to resume providing some services, such as in-person showings, appraisals and inspections, something that had been forbidden by New York’s stay-at-home order on March 22. The Real Deal reported late Wednesday that New York Gov. Andrew Cuomo’s administration reversed…

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