Economy

With increased economic distress because of the coronavirus, lenders are likely to see an increase of borrowers looking for a mortgage rescission, arguing they are eligible for an extended filing time frame.

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.

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.

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.

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.

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.

A proposal to tighten financial requirements for government-sponsored enterprise counterparties that sought to lower risk in a volatile market should be suspended, a group representing smaller lenders said, arguing it would aggravate current distress.

Real estate agents have canceled professional meetings, seen clients show up in masks, and resorted to fist bumps and elbow nudges instead of their traditional social currency — firm handshakes and longish hugs.

Mortgage applications to purchase new homes took a small step back in February from record levels during the previous month, but further positive momentum could be blunted by the coronavirus.

Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.

A historic house now for sale near the University of Arizona boasts "gorgeous architecture" and a "fabulous interior," but there's one major drawback: It's a lousy place to hide out from the coppers.

The Federal Open Market Committee lowered the fed funds rate target to between zero and ¼% in an emergency meeting on Sunday, but while analysts say the move was needed, they feel it will take more to offset the effects of COVID-19.

The social and economic impact of the coronavirus, not necessarily Covid-19 itself, has homebuyers and sellers on edge and is changing the way Realtors do business.

Increased refinancing volume led Fannie Mae to raise its 2020 estimate by $300 billion and 2021 projection by $280 billion.

Median prices for Maui homes sold last month moved modestly, but in opposite directions for single-family houses and condominiums, according to the Realtors Association of Maui.

Banks may be protected from a direct hit, but they have invested in vehicles that include such loans, potentially exposing them to defaults.

With the return of volume and profitability to mortgage lending, it is no surprise that commercial banks are coming back to the market.

Buying a home became slightly more attractive compared to renting in the fourth quarter, as the likelihood of another huge value drop decreased, an index from two Florida universities found.

The real estate market appears to be recovering in Monroe County, Pa., as home values are up and days on market are down.

Home sales in Lafayette Parish, La., set a record in February and is outpacing the region when it comes to year-over-year growth.