Author: Michael Gersitz

The share of mortgage loans in forbearance plans fell to 8.48% last week from 8.55% the week prior, according to the Mortgage Bankers Association’s Forbearance and Call Volume survey. This marks the first time the total number of loans in

Monday’s existing home sales report showed a significant decline in the year-over-year metric for May. This May report showed sales were down 26.6%, the lowest sales print since the housing bust years at just over 3.9 million. The stay-at-home orders

As states slowly reopen, real estate agents are once again able to conduct in-person home tours. While good for business, the return of in-person showings also means more safety risk for Realtors, as seen this weekend when a Keller Williams

The Consumer Financial Protection Bureau is under the microscope as the Supreme Court prepares to issue a major ruling, expected this week, on whether the agency’s single-director structure is constitutional. The decision is seen as also impacting the Federal Housing

The hashtag #cancelrent was trending on Twitter Monday morning as protesters in New York City called for an extension on eviction moratoriums. Try and take our homes? We’ll take over the streets. @NYGovCuomo, extend the real eviction moratorium and #cancelrent

The Consumer Financial Protection Bureau announced Monday two notices of proposed rulemaking surrounding what’s commonly known as the QM Patch. One of those rulemakings would remove the debt-to-income requirement from qualified mortgages. Back in January, CFPB Director Kathy Kraninger sent

Sprout Mortgage is adding enhancements to its recently unveiled suite of non-QM programs. Last week, the lender announced the release of three modifications to complement its May 27 non-QM program release after a short freeze on non-QM lending.  With an

If you’re in the mortgage business, expect to have your busiest year in 2020 since the height of the housing bubble in 2006. Combined lending for home purchases and mortgage refinancings probably will total $2.65 trillion this year, the most

The U.S. mortgage delinquency rate rose to 7.76% in May as Americans struggled to pay their bills during the worst public health crisis in more than a century. The rate rose from 6.45% in April and was 3.39% in March,

U.S. existing home sales tumbled 9.7% in May to the lowest level since late 2010 as COVID-19 plunged the nation into recession and chilled transactions. Sales of single-family houses, condominiums and cooperatively owned apartments fell to a seasonally adjusted and

The Federal Reserve is urging its examiners to go easy on banks offering forbearance to borrowers impacted by COVID-19, and will be issuing additional guidance on the issue, Chairman Jerome Powell told Congress on Wednesday. Powell’s statement came in response

The Federal Housing Finance Agency on Wednesday extended the foreclosure and eviction moratorium for borrowers with mortgages backed by Fannie Mae and Freddie Mac until “at least” Aug. 31, the federal watchdog said. “During this national health emergency no one

The COVID-19 pandemic upended just about everything this year, and that includes much of the home-buying process. A new study from Clever revealed that homebuyers who bought between January and May this year are twice as likely to have anxiety