Origination

The other parts of the Day 1 Certainty program regarding income and asset verifications remain in effect.

Purchase mortgage activity rose for the third consecutive week, although the total volume was flat compared with the previous seven-day period, according to the Mortgage Bankers Association.

After a March that still showed some signs of normalcy, April was less kind to Tampa Bay's real estate market as the coronavirus pandemic continued to plummet consumer confidence and disrupt the economy in new and dramatic ways.

This stylish home in the Beverly Hills Post Office area was much more famous in the late 2000s, when comedian Ed McMahon lived there and was fighting to keep the house.

But Black Knight and Arch Capital's mortgage insurance business aren't as affected, at least so far.

A surge in demand for home loans drove the increase, but the second quarter could see a slowdown in borrowing and more delinquencies as consumers contend with the economic fallout of the coronavirus pandemic.

Houston real estate agent Tim Surratt decided late last week to hold his first open house since the coronavirus pandemic broke out.

This scenario has been seen before. A sudden shock to the economy. Jobs lost. Lenders in trouble.

With unemployment mounting, new mortgage forbearance requests could sharply increase in early May when payments are due.

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.