This week, HousingWire Editor-in-Chief Jacob Gaffney is joined by Reporter Kelsey Ramírez and Online Editor Caroline Basile to discuss the Consumer Financial Protection Bureau's final amendment to TRID's Know Before You Owe rule, disappointing GDP results, mortgage rates, and Freddie Mac's expansion of its 3% down program.
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With the coronavirus continuing to reshape the face of the country and the economy, the biggest players in the mortgage business are moving to try to make it easier to lend. Last week, it was Fannie and Freddie. Now, it’s the FHA and VA’s turn.
HUD announced Thursday that the FHA is rolling out a “tailored set of mortgage payment relief options” for FHA mortgage borrowers who are being affected by the coronavirus. One of those payment relief options gives borrowers the ability to defer their mortgage payments for at least six months and as many as 12 months.