Origination

Kalahari Resorts defaulted on a $347 million mortgage originated by JPMorgan Chase

The company will still offer the product it is most known for, Point.

The coronavirus made it particularly tough for independent contractors and independent business owners to get home mortgages, but there are some signs that market may recover soon.

U.K. home sales collapsed last month as the government effectively shut down the market to help slow the coronavirus outbreak.

Home sales in Chattanooga, Tenn., fell nearly 18% last month and the inventory of houses on the market fell by more than 26% as home-bound Chattanoogans were less likely to want to either buy or sell their homes during the worst of the coronavirus shutdowns in April.

New housing activity in Connecticut took a precipitous decline last month, with the number of permits issued around the state down 65.4% from April 2019, according to the Department of Economic and Community Development.

Mortgage applications increased 2.7% from one week earlier, as purchase volume is now outpacing the prior year's activity, according to the Mortgage Bankers Association.

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

Both Fannie Mae and Freddie Mac have relaunched existing websites to provide COVID-19 tools to borrowers and servicers.

Some cities saw drops in annual housing supply nearing 40% in early May, according to Zillow.