Economy

Some benefits are materializing from Fannie Mae's pledge to limit servicers' exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of both GSEs remain exposed to other concerns.

Guild Mortgage's presence in Washington state, the epicenter of the first U.S. outbreak, gave it an early glimpse of the obstacles ahead.

Houston real estate agent Tim Surratt decided late last week to hold his first open house since the coronavirus pandemic broke out.

This scenario has been seen before. A sudden shock to the economy. Jobs lost. Lenders in trouble.

With unemployment mounting, new mortgage forbearance requests could sharply increase in early May when payments are due.

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.

Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers.

The Palm Beach, Fla., real estate market entered the season last fall with a strong wind at its back.

Fannie Mae's profitability suffered but it managed to stabilize the mortgage market in the first quarter even with the coronavirus disrupting, among other things, certain credit-risk transfer vehicles it has used.

The Home Loan bank will make zero-interest loans, match charitable donations that members make to nonprofits and small businesses, and provide additional funding for economic development grants.