Coronavirus

For Central Texas' long-sizzling housing market, 2020 is the year the unexpected catastrophic global event — the typical caveat in the region's otherwise ongoing rosy market forecasts — has actually come calling.

Figures released Friday show that the central Ohio housing market remained robust through February, but evidence mounted this week that the coronavirus outbreak is crushing that market along with the rest of the economy.

Consumer sentiment about home price growth during a potential recession flipped because of the coronavirus scare. Now, just one-third expect an increase in value, according to Redfin.

Sales of previously owned homes surged in February to the fastest pace in 13 years, highlighting a flurry of activity in the housing market before the economic repercussions of the coronavirus.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

The fallout from the coronavirus could turn a situation in the U.S. where many homes were overvalued into a scenario where prices drop, a Fitch Ratings report said.

It has all the trappings of a routine mortgage refinance closing. The mortgage broker, the lawyer and the homeowner, all signing off on the paperwork that will cut the interest rate on a home.

Forbearance and loan-modifications programs implemented after the financial crisis left borrowers bewildered and angry. Now the mortgage industry wants to create a common standard for providing relief to homeowners whose livelihoods have been upended by the coronavirus pandemic.

Mark Calabria said Fannie Mae and Freddie Mac are currently equipped to handle elevated delinquencies, but they might need congressional or Federal Reserve help if fallout from the coronavirus persists.

The credit watch involves single-borrower securitizations of commercial mortgages for high-priced resorts in Florida and Hawaii.

As financial hardships mount with the COVID-19 outbreak, Fannie Mae and Freddie Mac released their plans for mortgage borrowers impacted by the pandemic.

A number of proposals have been floated for debt payment holidays and other types of moratoria, but such approaches offer solutions that are worse than the problems.

Kansas Gov. Laura Kelly on Wednesday announced she was banning evictions and foreclosures for the next six weeks, adding to her administration's response to the unprecedented crisis caused by COVID-19.

Southern California's 2020 housing market got off to a good start before the pandemic shook the economy in mid-February, CoreLogic figures show, with both prices and home sales up in the six-county region from February 2019 levels.

To address the coronavirus' impact, banks like Truist and Ally and nonbanks like Quicken Loans are assisting communities as well as making adjustments to support their workforce and customers.

FHFA Director Mark Calabria said the health crisis will complicate the release of a proposal establishing new capital requirements for Fannie Mae and Freddie Mac.

The Bradenton-Sarasota, Fla., area has been a red-hot housing market with the median price at or above $300,000 for the past year, providing job opportunities for 7,000 real estate agents.

New-home construction exceeded forecasts in February, underscoring momentum in the industry a month before the coronavirus pandemic injected uncertainty into the economy.

The temporary foreclosure moratorium on loans backed by HUD, Fannie Mae and Freddie Mac comes after lawmakers and housing advocates had pushed for steps to avoid consumers getting booted from their homes.

Mortgage industry technology providers are adjusting their processes to allow for originations to keep flowing through the system as the nation combats the coronavirus.