Economy

Compared with the week prior, approximately 83,000 more loans from all investor types became forborne.

Nonbank servicers have been seeking more sources of cash since the coronavirus disrupted markets and elevated forbearance rates. These are some strategies they may be able to use.

In the most sweeping capital distribution order since the financial crisis, the Federal Reserve says it will prohibit big banks from buying back their stock in the third quarter and limit dividend payments to second-quarter levels.

The government-sponsored enterprises had been considering tightening counterparty requirements for nonbanks, but in light of COVID-19's spread, they've reconsidered that.

The Mortgage Bankers Association points to better lender diversity and a stronger housing finance network as reasons for its support.

For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.

The mortgage company will provide up to $17 million in forgiveness to settle charges that modifications it applied to distressed government-related loans were not in keeping with state servicing regulations.

For potential higher-end homebuyers, the pandemic was merely a pause, but for those seeking affordable properties — often people of color — it created yet another barrier.

Government-sponsored enterprise reform could be one hurdle to future innovation.

Whatever path Fannie Mae and Freddie Mac take, the Mortgage Bankers Association would like to see them preserve many of the changes they made while in government conservatorship.

The Consumer Financial Protection Bureau plans to change the definition of what constitutes a qualified mortgage from a 43% debt-to-income limit to a price-based threshold, and further extend a temporary exemption given to Fannie Mae and Freddie Mac.

Community associations have continued to take homeowners to court and initiate foreclosures during the economic crisis for delinquent dues

JA wave of new homebuyers from the northeast and other parts of the country flooded the Hilton Head, S.C., real estate market over the past few weeks.

Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.

An Idaho court has ruled against a Treasure Valley resident for his role in a Ponzi scheme that bilked millions from real estate investors.

Starwood Capital Group missed two monthly payments on securitized debt tied to five shopping malls anchored by bankrupt department stores including Sears and J.C. Penney.

Potential sales last month rose compared with April as homes became more affordable due to low mortgage rates.

Mortgage rates fell 8 basis points this week to a new low as the economy remains shaky and there are new flare ups of the coronavirus, according to Freddie Mac.

New Residential Investment Corp., fresh off a substantial first-quarter reduction of its asset holdings, is now planning to securitize the receivables on its $200 billion servicing portfolio of Fannie Mae-owned mortgages.

The language most frequently spoken by LEP consumers is Spanish, followed by Chinese, Vietnamese, Korean and Tagalog. The Federal Housing Finance Agency's online clearinghouse translates CARES Act forbearance information into these languages.