Economy

Fannie Mae and Freddie Mac are now able to buy loans in forbearance to alleviate pressure on the sector, but the fees charged by the mortgage giants to assume more risk could turn away some originators.

Florida's first-ever — and short-lived — climate change czar set a clear priority for the state: Protect the real estate market.

The FHFA's director said the announcement is meant to “combat ongoing misinformation” about efforts to let homeowners skip mortgage payments due to the coronavirus pandemic.

FHFA Director Mark Calabria stated that he was directing the GSEs to "add liquidity" to the markets, but the actions of the FHFA say precisely the opposite.

The advertisements are meant to entice: A month of free rent in a high-end apartment in downtown St. Petersburg. A free pool at a new housing development in Tampa. A $20 Amazon gift card for taking a virtual tour.

Correspondent loan sellers are hoping the new GSE purchases will help to open a market frozen by coronavirus-related risk — but the prices offered so far aren't too promising.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.

Mortgage rates were little changed this week as the markets reacted positively to various economic measures coming out of Washington, according to Freddie Mac.

Sales volumes fell by over 50% in some states since the shelter-in-place mandate started, according to HouseCanary.

The policy move will allow small institutions participating in the Paycheck Protection Program to pledge business loans as collateral to obtain advances.

Treating COVID-19 forbearances as a natural disaster will likely mean the MIs will not need to hold as much capital.

The Federal Housing Finance Agency has promised to take care of advances on principal and interest payments for coronavirus forbearances after four months, but servicers remain concerned about other responsibilities.

The FHFA will allow Fannie Mae and Freddie Mac, for a limited time, to purchase loans for which the borrower has sought to postpone payments because of the economic effects of the coronavirus.

Mortgage fraud risk plummeted in the first quarter of 2020 amid historically low mortgage rates and a boom of refinances, but the coronavirus could create a new set of risks, according to CoreLogic.

Efforts to calm lenders’ fears about coronavirus-related forbearance may not offset tightening standards, and the FHA is less likely to boost volume than it was during the financial crisis.

The agency said it is aligning policies for Fannie Mae- and Freddie Mac-backed loans in forbearance so that servicers are only responsible for advancing four months of missed payments.

Fannie Mae and Freddie Mac's regulator is confronting a fresh crisis for the U.S. housing market: The companies won't buy recently issued loans that were made to borrowers who already can't afford their monthly payments because of coronavirus.

Surging unemployment from COVID-19 shutdowns brought a rapidly rising tide of forbearance requests, according to the Mortgage Bankers Association.

As the nation struggles with the coronavirus, now is not the time to make major revisions to the Community Reinvestment Act.

The COVID-19 pandemic has caused a mild fluctuation in the Savannah, Ga., area real estate market, but many people are still inking closing contracts. At the same time. local industry leaders and agents are turning to technology to help them find their forever homes.