What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Politics & Money

Wolters Kluwer begins submissions of PPP loan forgiveness applications

Follows the SBA's launch of the Loan Forgiveness Portal on its site Monday

Following the launch of the Small Business Administration’s Loan Forgiveness Portal on Monday, Wolters Kluwer announced it is now submitting completed borrower loan forgiveness application data directly to the SBA via its TSoftPlus Paycheck Protection Program Forgiveness Module.

Wolters Kluwer originally launched their portal in June, intending to help lenders guide small business client recipients of PPP funding in the process of online and in-person loan forgiveness. 

Now, the module allows borrowers to access SBA forgiveness applications and required documentation for TSoftPlus users. After completing the application, the lender will review the documents and submit those for the SBA to review, respond and remit the forgiveness amount to the lender if approved.

Wolters Kluwer Consulting Services is also offering Forgiveness Module users online training sessions to provide more clarification on loan forgiveness requirements for a successful application and to address some of the most common questions raised by lenders.

In a press release from Wolters Kluwer, David Brandt, chief financial officer for ELGA Credit Union, said that the Wolters Kluwer software had assisted his credit union with nearly 300 PPP loans for its Main Street borrowers, including local restaurants, small manufacturers and real estate firms.

According to recent data from the SBA and U.S Department of Treasury, 5.2 million PPP loans have been made since the launch of the program, with an average loan size of $100,000. Complying with loan forgiveness requirements under PPP can be complicated — the SBA and U.S. Department of Treasury published a FAQ response document with over 50 questions on Tuesday – the day after the portal was launched.

As for the housing industry, at the end of June the construction sector took the lion’s share and gained $64.6 billion of PPP loans, while real estate companies grabbed $15.6 billion and financial companies got $12.2 billion.

Leave a comment

Most Popular Articles

FHFA extends forbearance period to 18 months

In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

Feb 25, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please