Coronavirus

But others warn that the optimism is unsustainable as a successful vaccine rollout doesn’t necessarily equate to the return of pre-pandemic work and travel habits.

By applying what has been learned in the past year, mortgage providers can ensure they will be better positioned to take on more loans and grow their business, EarnUp CEO and co-founder Nadim Homsany writes

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.

House Financial Services Committee members were at odds over whether to have support for homeowners and the State Small Business Credit Initiative, both included the $1.9 trillion stimulus plan, expire when the pandemic ends or later.

Homeowners still deferring payments on federally backed loans as of Feb. 28 will be permitted to request an additional three months of relief.

The uptick marks only the third increase in consecutive weeks since reaching a peak in May, according to Black Knight.

Dave Uejio, acting director of the Consumer Financial Protection Bureau, promised to protect veterans from predatory loans and to crack down on companies that improperly garnish stimulus checks or mistreat struggling borrowers.

Investors were also reacting to the inauguration of Joe Biden and uncertainty over additional fiscal relief, Freddie Mac’s Chief Economist Sam Khater said.

The former No. 2 at Countrywide had been battling brain cancer prior to passing away from the coronavirus.

The uptick follows the pandemic-era trend of midmonth increases in active plans, according to Black Knight.

The pandemic-fueled exodus from New York City propelled nearby Westchester County to its strongest year for home sales in more than two decades.

Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are renewing questions about credit quality.

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance.

A slowdown in the increase of loans exiting forbearance “implies that those who were able to absorb the shock of the pandemic and get back on their feet, may have already done so,” said Andy Walden, Black Knight economist.

December’s housing market sentiment hit a seven-month low, indicating that inventory could be further constrained by sellers waiting for a better time to list, according to Fannie Mae.

While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.

The Fed’s decision to lower rates amid a pandemic proved serendipitous for home lenders who benefited from a refinance boom last year, but they may need to make adjustments in the coming months.

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.

With limited plan removals due to the holidays, mortgages in coronavirus-related forbearance rose by 15,000, according to Black Knight.