This week, the “V-shaped” recovery in purchase applications is mimicked by the inverted “V-shaped” recovery of the St. Louis Stress Index. According to HousingWire Columnist Logan Mohtashami, this signals a return to a much more calm financial market.
HousingWire is excited to have Eric Simon, better known by his social media handle The Broke Agent, join us as our featured guest for HousingWire’s virtual happy hour after we wrap up day one of the engage.marketing summit.
People Movers provides updates about the business professionals making waves in real estate and mortgage. Here’s the latest.
The number of loans in forbearance declined this week for the first time since the start of the COVID-19 pandemic, Black Knight said in a report on Friday.
Ashby & Graff Real Estate pressed pause on its five-figure Facebook ad budget in January 2019, due to events that don’t align with the company’s values.
The joint statement warned servicers about enacting additional interest, fees or penalties “beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract.”
A $706 million jury verdict against Amrock in 2018 was tossed out by a Texas appeals court on Wednesday after it ruled the jury considered invalid legal theories.
Mortgage servicers are getting the short end of the stick under the CARES Act. Unlike the decade-old financial crisis, it cannot be argued that the mortgage industry created the problem underlying the need for borrower relief. Rather, Congress unilaterally altered the original mortgage loan terms without requiring a borrower to demonstrate that the borrower needs the relief.
From the frontlines to front porches, the housing industry has quickly found ways to support those impacted by the COVID-19 pandemic.
HUD Secretary Ben Carson said the policy change “will give borrowers, lenders, and the market peace of mind as we continue our road to economic recovery in the United States.”
The U.S. unemployment rate unexpectedly declined to 13.3% in May, down from a record 14.7% in April, as the economy added 2.5 million jobs.
As the coronavirus pandemic took root in this country, Atlanta-headquartered Angel Oak Mortgage Solutions found its non-QM lending business on shaky ground.
