The Jobless Claims Report and the Employment Situation Report and were both pretty devastating last week with more than 6 million new unemployment claims filed on top of 3 million the prior week and 701,000 jobs lost. The unemployment rate jumped nearl...
Black Knight has taken what will probably prove to be only their first in-depth analysis of the potential effects of the COVID-19 pandemic on the economy and specifically on the U.S. housing and mortgage markets. The paper looks at the current state of...
The Department of Housing and Urban Development (HUD) has announced how it will be allocating its initial portion of funds from the massive Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress last week. Over $3 billion will be...
New home building, which only recently and belatedly caught fire, is already feeling the effect of the COVID-19 virus response. The National Association of Home Builder (NAHB) recently did a quick on-line survey of its members and 81 percent said they ...
The volume of mortgage applications plummeted last week as households, rattled by COVID-19 fears, self-isolated in their homes and businesses were shuttered in the hardest hit states or scurried to shift operations to their employees' homes. In the mid...
Fannie Mae has issued a series of three lender letters dealing with changes in appraisals, originations, and servicing protocols in response to the COVID-19 national emergency. Fannie Mae indicates that similar letters will be forthcoming from Freddie ...
Loan performance overall continues to validate the perceived quality of recent loan vintages and delinquency metrics continue to test and break old records. Foreclosure starts were down 20 percent in January 2020 compared to a year earlier, just one of...
Who knows what tomorrow will bring? At least for today we have some welcome good news from the National Association of Realtors® (NAR). Existing home sales, which declined slightly in January, enjoyed a spring-market explosion in February. NAR said...
A 10-basis point drop in the average interest rate of closed loans drove up the share of refinances in February. Ellie Mae's Origination Insight Report said the average rate for all loans closed on its system was 3.86 percent during the month while con...
