Origination

As more borrowers exit their plans, fewer than 4 million loans sit in forbearance, according to Black Knight.

Home sales in the Charlotte, N.C., area are rebounding after taking a major blow from the novel coronavirus pandemic, even as the shortage of homes is worsening.

Portland is a tale of two residential real estate markets: Well-priced, single-family homes are selling fast while sales of turnkey condominiums with concierge services and killer views have stalled due to the coronavirus pandemic.

The FHFA director’s move this week to impose an “adverse market fee” of 0.5% on most refinanced mortgages will shift billions out of the hands of American consumers and into the hands of Fannie Mae and Freddie Mac — and their private shareholders.

The Tri-COG Land Bank, a multicommunity effort to get abandoned and blighted properties back on the tax rolls, has sold its first property.

The city of Birmingham plans to set aside nearly $1 million in the 2021 budget to prop up the underperforming CrossPlex Village development in Five Points West, city officials said.

Mortgage industry hiring and new job appointments for the week ending Aug. 14.

Borrowers will likely have to put more assets on the line to get forbearance extensions.

But the 30-year fixed remains below 3%, which should continue to support increased demand.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.