Mortgages

The money’s distribution is really the states’ responsibility and mortgage companies already have a lot to juggle, but their involvement is essential to forbearance outcomes, according to a former HUD official.

In 2011 Congress paid for payroll tax relief by raising secondary market guarantee fees for 10 years. The Mortgage Bankers Association, and others, don’t want to see that happen again.

The plan aims to cut monthly payments by roughly 25% for homeowners in government-backed mortgages who are negatively impacted by the pandemic.

Officials have pledged to maintain bond buying until the economy shows "substantial further progress" on inflation and employment as it recovers from COVID-19.

Soaring home prices and the abundance of all-cash offers that the deep-pocketed can afford makes home buying even harder for the average borrower, according to a Redfin report.

The shift to higher-margin home purchase policies helped to boost results at First American, Old Republic and Stewart.

Sales of previously owned U.S. homes rose for the first time in five months in June as housing inventory improved slightly, illustrating the strength of housing demand.

A rise in coronavirus cases and the removal of a 50-basis-point adverse market fee designed to protect Fannie Mae and Freddie Mac during the pandemic contributed to the largest weekly drop so far this year.

The relatively low share of borrowers who were distressed in June adds to signs that the offramp from government relief measures may not lead to an overwhelming wave of foreclosures.

As the distribution of at-risk housing markets spread across more states quarter-over-quarter, vulnerable clusters remained around Chicago, New York and Philadelphia, an Attom Data report finds.

The meager increase suggests the largest boost in inventory possible would likely still leave the backlog of homes on the market at historic lows.

More units sold above asking price as skyrocketing home values pushed consumers out of the single-family market, according to Redfin.

While the unit saw a bigger increase in purchase volume compared to its competitors, net income, loan sales margins and total volume was lower compared with prior periods.

Despite lower numbers, refi applications continued trending strongly, while purchases fell close to lows from more than a year ago.

The cloud IT provider for settlement services companies has no timeline on when services will be restored following its shutdown Friday.

The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.

Meanwhile, the average new-home mortgage price climbed to a new all-time high, according to the Mortgage Bankers Association.

White Americans are more likely to benefit from generational wealth when purchasing property.

As rising home valuations force first-time home buyers out of the market, expect to see non-owner-occupied loans to increase.

Initial home construction rose 6.3% last month to a three-month high, according to government data released Tuesday.