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Detroit-based mortgage giant Quicken Loans could be facing a cash crunch in coming weeks and possibly need temporary emergency federal assistance if lots of borrowers stop making payments on their home mortgages during the coronavirus pandemic, according to a news report.

High demand and low interest rates continued to drive strong sales of existing single-family homes in Maine in February, according to Maine Listings.

There was a nearly 30% week-to-week decline in loan applications as Americans reacted to the uncertainty, both economic and medical, from the spread of COVID-19, according to the Mortgage Bankers Association.

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.

Independent mortgage bankers had their most profitable fourth quarter in seven years for originations, but the fallout from the coronavirus could upset the economics of the industry in the short term.

Purchases of new homes in February held close to an almost 13-year high, showing momentum in the residential real estate market before economic activity fell victim to the coronavirus.

FirstKey's securitization of well-seasoned, reperforming loans is the second such transaction in a week — amid an otherwise barren securitization market ground to a halt from the coronavirus crisis.

Minnesota Realtors is calling for a halt to all real estate open houses statewide, and they've asked the NorthstarMLS to disable the "open house" feature in its online home listing database.

The Federal Reserve Board should create a dedicated facility for mortgage servicers to access in order to make required advances, industry participants and observers, including its largest trade group, said.

With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.

The $16 trillion U.S. mortgage market — epicenter of the last global financial crisis — is suddenly experiencing its worst turmoil in more than a decade, setting off alarms across the financial industry and prompting the Federal Reserve to intervene.

The percentage of mortgages underwater — when a mortgage exceeds value — has decreased dramatically in South Florida since the Great Recession, meaning the region may be better prepared to weather COVID-19 than the downturn a decade ago.

Realtors are taking advantage of nearly every type of modern technology to maintain the embers of the real estate market.

The central bank's sweeping actions suggest a cash shortage gripping sectors directly hit by the pandemic. Banks were supposed to be protected by Dodd-Frank but are still vulnerable to a funding domino effect.

Congressional Democrats want forceful action to prevent damage to millions of Americans' credit scores during the COVID-19 pandemic. But the credit bureaus argue that the tools needed to protect consumers are already in place.

The coronavirus pandemic is threatening to put a damper on the Marin County, Calif., real estate market as it enters its normally busy spring season, with the nation facing economic uncertainty and a "shelter in place" order forcing the cancellation of many house events.

The real estate market, particularly in the so-called luxury tier, has been struggling for years.

Real estate investor Tom Barrack said predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep commercial mortgage borrowers from defaulting.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

The attack knocked out core and mobile banking systems at several U.S. banks, and Finastra is working to get them up and running.