The U.S. House Committee on Financial Services Chairwoman Maxine Waters has been a staunch voice advocating on behalf of, in her words, "current homeowners, renters, potential owners, and more than 19 million prospective millennial homeowners." To that end, Waters Friday ...
Read More »New Challenges for Self-Employed Borrowers
Beginning December 14 it will be a little more difficult for self-employed borrowers to secure a Fannie Mae-backed mortgage loan. As of mid-month, the GSE will require self-employed loan applicants to provide their most recent three months of business bank ...
Read More »Homeowners of Color Benefiting Less From Forbearance Programs
American borrowers in large part are taking advantage of The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which granted up to 12 months of forbearance to homeowners with federally backed mortgages. However, because the CARES Act foreclosure moratorium does ...
Read More »Distressed Property Investing in the Coming Year
As foreclosure moratoria expire in 2021, depending on actual and anticipated extensions, there are a couple of likely scenarios for servicers, says real estate investor and contributor to Millionacres, a Motley Fool publication, Liz Brumer. In the end, she concludes ...
Read More »Increasing Natural Disasters Endanger Affordable Housing Supply
Flooding and other natural disasters are increasing, scientists say, putting the nation's already dwindling affordable housing supply at risk, according to a peer-reviewed environmental research paper entitled, "Sea Level Rise and Coastal Flooding Threaten Affordable Housing," by Climate Central and the National ...
Read More »Real Estate Valuations in a Time of Crisis
On Wednesday, January 20 from 1-2 p.m. CST, a panel of industry pundits will participate in a complimentary virtual roundtable session presented by Clear Capital entitled "Managing Mortgage Servicing Challenges in Uncertain Times: How Modern Real Estate Valuations Will Help." ...
Read More »FHFA Extends Foreclosure Moratorium
FHFA Wednesday announced the fourth extension of its foreclosure and eviction moratorium through "at least" January 31. This extension will continue the moratorium on single-family foreclosures and real estate owned (REO) evictions until at least January 31, 2021, according to ...
Read More »New Forbearance Requests, Re-entries Lead to Overall Increase
Total loans in forbearance during the week ending November 22 increased 6 basis points relative to the prior week—from 5.48% to 5.54%, according to the Mortgage Bankers Association's (MBA) Forbearance and Call Volume Survey published Tuesday. The MBA estimates 2.8 ...
Read More »FHA Raises Single-Family Loan Limits
Federal Housing Administration (FHA) announced higher loan limits for 2021. The guidelines apply to the administration's Single Family Title II forward and Home Equity Conversion (reverse) Mortgage insurance programs. The rise in loan limits correlates with nationwide home price appreciation ...
Read More »The CFPB Adds Five to Its Executive Team
The Consumer Financial Protection Bureau (CFPB) announced additions to its executive team. According to a press release, the bureau—"which helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, ...
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