Over the past few months, mortgage rates and closed loan volume have surprisingly been on the rise. The possible reasons for this could be the dwindling unemployment numbers since the peak of the Covid-19 pandemic, more people receiving the stimulus check from the government, and the positive outlook of a fast-recovering economy. However, lenders should not assume this good run…
Mortgage Lender
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Every few years, the mortgage industry is faced with an unprecedented crisis that threatens several negative consequences for all stakeholders. Often, the effects of such a crisis are felt in the lending landscape for quite some time and it’s usually the federal government that has to rush to support homeowners and protect their interests. As a response to the risks…
The outbreak of the COVID-19 pandemic has created unforeseen challenges for mortgage lenders. Striking a balance between meeting restrictive FHFA guidelines (which includes suspending foreclosures and evictions for 60 days, expanding eligibility for forbearance plans to include COVID-19 affected borrowers, suspend the reporting of mortgage loan statuses to credit bureaus etc.) and finalizing on how to deal with transactions that…