Coronavirus

Ocwen Financial has approximately $749 million of liquidity from various sources to deal with servicing issues arising from the coronavirus, a company press release said.

Nonbank mortgage employment estimates show payrolls in February leveled off after an unusually strong winter, but anecdotal reports of selective hiring persisted through March amid a broader coronavirus-related drop in U.S. jobs.

Community banks and credit unions could carve out an opportunity by refinancing mortgages from larger institutions.

Nonbank financial firms spent years lobbying against tougher regulation and stricter capital requirements, arguing they didn't pose a risk to the financial system. Now, many of those companies say they are in desperate need of a bailout.

One day after the rent was due, all evictions and foreclosures in Florida were suspended for 45 days under a statewide order issued Thursday.

New York's Real estate agents, home inspectors and residential appraisers are now considered "essential employees," according to the Empire State Development agency.

Real estate listings are drying up, open houses have been canceled, and buyers are staying home. One more pillar of the Canadian economy is under threat from the coronavirus pandemic.

Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.

The worsening economy brought on by the coronavirus pandemic has big banks rethinking who they will lend to.

Bank employment of mortgage loan officers rose slightly last year, but that was before the coronavirus spread and resulted in social distancing measures that raised questions about broader employment prospects.

Digital banks outscored brick-and-mortar banks in a recent J.D. Power study of customer satisfaction. However, the survey pointed to shortcomings in call center services, which are in high demand during the COVID-19 pandemic.

Williston Financial Group accounted for a pandemic in business continuity plans, and it helped some, but COVID-19 was a much larger scale than it anticipated.

Home construction in Round Rock is slowing but hasn't stopped in the wake of COVID-19, local industry leaders said this week.

San Diego County's home market started 2020 with prices rising more than any other West Coast market and much of the nation.

Joe Welu, CEO and founder of Total Expert, provides his perspectives on how the coronavirus pandemic impacts the mortgage industry and ways lenders can push forward.

Simply stated, the federal forbearance of mortgage payments is perhaps the largest unfunded public mandate in American history.

The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.

Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they've lost income as a result of the pandemic.

Consumer needs are in flux and Top Producers were looking at technology and risks associated with unexpected financial challenges as areas where they weren't yet meeting those needs. The coronavirus only intensified the urgency.

The latest deadline for Genworth Financial's acquisition by China Oceanwide is June 30, but the parties are looking to get the transaction completed by the end of next month.