6 things homeowners need to know about mortgage forbearance plans
The Mortgage Bankers Association's Sara Singhas explained how mortgage forbearance and repayment works and what homeowners should do if they need more time
by Marian McPherson Apr 10
Mortgage credit availability decreased 16.1% in March
The Mortgage Bankers Association said the decrease is due to stricter lending standards and increased likelihood of loan forbearance and defaults
by Marian McPherson Apr 9
Mortgage rates remain flat but could go lower this year
The average rate for a 30-year, fixed-rate mortgage is at an all-time low, but it could drop further if the economy stabilizes
by Patrick Kearns Apr 9
Stimulus package could create 'chaos' in mortgage industry
A coalition of real estate and banking trade groups is calling on Congress to help banks with liquidity as they allow homeowners to forbear their mortgage payments
by Patrick Kearns Apr 6
Wells Fargo suspends jumbo mortgages as demand fades
In this uncertain market, demand for jumbo mortgages is declining as more homeowners seek forbearances and investors look to more secure loans during the Covid-19 crisis
The Real Word: How fear and uncertainty is changing the mortgage industry
And this week, mortgage lender Brian Faye joins in the conversation
by Byron Lazine Apr 3
FHA and VA latest mortgage servicers to relax standards
The federal mortgage servicers recently joined Fannie Mae and Freddie Mac in offering alternatives to traditional appraisals and employment verifications
by Lillian Dickerson Mar 31
Digital mortgage lender Better.com to hire laid off hospitality workers
The company is aiming to hire 1,000 additional workers this year and wants to pull from the industry hit hardest by coronavirus-fuled layoffs
by Patrick Kearns Mar 30
Housing protections in the stimulus bill explained
The 880-page bill signed into law by Trump on Friday includes credit protections, foreclosure moratoriums and forbearance on some mortgages
by Patrick Kearns Mar 28
Fannie Mae, Freddie Mac ease appraisal standards amid coronavirus
The federal loan servicers announced an adjustment of long-held appraisal and employment verification standards in order to help facilitate mortgages amidst the COVID-19 outbreak
by Lillian Dickerson Mar 25
Major banks agree to mortgage grace period in California
Gov. Gavin Newsom announced Wednesday that Wells Fargo, Citibank, JP Morgan and U.S. Bank would give homeowners a 90-day grace period
by Jim Dalrymple II Mar 25
Homeowners may delay mortgage payments up to 1 year due to virus
The move by Fannie Mae and Freddie Mac came days after President Trump announced that delayed mortgage payments may be an option for borrowers amidst the coronavirus pandemic
by Lillian Dickerson Mar 23
Share of first-time buyers reaches highest peak since 1993
The number of first-time homebuyers exceeded 2 million for the third consecutive year in 2019, according to Genworth Mortgage Insurance
by Marian McPherson Mar 18
Trump may allow homeowners to delay mortgage payments
The administration didn't make clear how borrowers might catch up on payments later on
by Lillian Dickerson Mar 18
California governor stops evictions amid coronavirus outbreak
Gov. Gavin Newsom's order is meant to be a lifeline to people whose wages are shrinking as the coronavirus tanks the economy and forces people into isolation
by Jim Dalrymple II Mar 17
Fed cuts interest rate to nearly zero. What does it mean for real estate?
Realtor.com Chief Economist Danielle Hale believes mortgage rates could go lower this week, but rates and affordability won't be the only thing impacting the housing market
by Patrick Kearns Mar 16