National Mortgage News - July/August 2020

Breaking down color barriers

How the mortgage and housing industries react to the current civil rights moment could shape policies and bridge the homeownership divide for the Black community.

Video conferencing might replace some in-person meetings even after people can go back out on the road again.

The company formally reported a nearly $65 million loss in the first quarter as the coronavirus affected its operations in March.

For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.

Nonbank servicers have been seeking more sources of cash since the coronavirus disrupted markets and elevated forbearance rates. These are some strategies they may be able to use.

The collateral in the $338 million also includes a large subset of mortgages (45% of the pool) that are considered "dirty current" loans with recent delinquent status.

Framework Homeownership CEO Danielle Samalin helped support consumer organizations after the housing bubble burst. Now she’s using that experience to help borrowers and homebuyers navigate new challenges.

The government-sponsored enterprises had been considering tightening counterparty requirements for nonbanks, but in light of COVID-19's spread, they've reconsidered that.

The social distancing related limitations on home appraisals is inspiring some companies to find new ways to advance the process.

With more real estate and mortgage companies moving to a digital process, volume expectations in the face of coronavirus restrictions shot way up in May compared to April.

Legal experts say it is now more likely that the Supreme Court will strike down the single-director governance framework for Fannie Mae and Freddie Mac’s regulator.

The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.

Mortgage industry hiring and new job appointments for the week ending June 5.

FHFA, HUD and Ginnie Mae should let the rate of prepayments on MBS dictate bond prices and market rates.