Coronavirus

People with scores below 500 are often in communities that suffer the most from economic hardship and violence. Banks and regulators can do more to qualify them for financing, ultimately creating healthier local economies.

Tuesday's hearing on the CARES Act was dominated by bickering over Treasury's decision to shut down the Fed's emergency lending facilities, drowning out pleas from some lawmakers for more aid.

The incoming administration chose a battle-tested policymaker who can draw on her nearly two decades at the Fed to help rebuild an economy still struggling from the coronavirus pandemic.

Citigroup's realty arm is sponsoring a $1.06 billion RMBS of highly seasoned mortgage loans with troubled histories. All of the loans were acquired via a Fannie whole-loan auction.

Mortgage rates remained unchanged at their record lows heading into the Thanksgiving holiday, as investors reacted to a growing resurgence in coronavirus cases.

The forbearance rate continued recovering in lockstep with employment improvement, according to the Mortgage Bankers Association.

Weaker consumer spending data coming into the holiday season, as well as a resurgence of the COVID-19 spread, pushed mortgage rates to a new low, Freddie Mac said.

A Freddie Mac study of loans in forbearance from 2017 and 2020 found that, over both periods, borrowers had low credit scores and high debt-to-income ratios.

The Term Asset-Backed Securities Loan Facility was brought back to inject $100 billion into the pandemic-battered economy, but only a fraction has been disbursed. Yet experts, pointing to its calming effects on markets, recommend that it be extended into next year.

If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules and more.

The Federal Housing Administration said in its annual actuarial report that the capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.

With the coronavirus cutting employment or wages in 32% of households, the number of potential homebuyers could shrink and cause home price growth to hit its inflection point, analysts say.

Mortgage rates moved off of their all-time low this week as a result of reports that Pfizer's coronavirus vaccine was potentially 90% effective, according to Freddie Mac.

More than six months after the CARES Act became law, the two entities joined a host of industry organizations in launching the COVID Help for Home campaign to educate borrowers on the next steps in forbearance.

With the 10-year Treasury yield getting a boost due to Pfizer’s COVID-19 vaccine news this week, KBW predicts insurers and title underwriters will fare best as recovery continues.

Measures are needed to better address the next event-driven mortgage credit crisis that will likely occur when an even higher percentage of mortgage credit assets are owned by nonbank entities.

The forbearance rate continued recovering in lockstep with employment improvement, according to the Mortgage Bankers Association.

With a Democrat set to take the White House in January, the agenda for agencies like the CFPB could undergo a rapid transformation, housing finance reform could be turned on its head and progressive banking ideas that were unthinkable over the past four years could gain traction.

For most of the underwriters it was a strong quarter, but concerns remain over government-sponsored enterprise reform and potential claims after forbearances end.

Under 2.9 million borrowers sit in coronavirus-related forbearance as GSE-backed mortgages drove the latest decrease, according to Black Knight.