… “Wells Fargo, US Bank, Citi and JP Morgan Chase will defer mortgage payments for three months. State chartered banks and credit unions will offer similar deferrals. Newsom said everyone is eligible, regardless of how much money they make. He said homeowners must submit “some form of documentation,” but did not give details. “I thought the […]
Read More →Mortgage Applications Decrease in Latest MBA Weekly Survey | Mortgage Bankers Association https://www.mba.org/2020-press-releases/march/mortgage-appl . . .
Read More →Mortgage Reit Meltdown Some Mortgage Reits have lost more than 80 percent of that value in just a few weeks. Are these Reit telling something about where the price of homes will be in a few months? Here a CNBC expert explains a little bit about what is going on.
Read More →The California Association of Realtors Just Crafted a Corona Virus Addendum. We recently reported that some lenders have given notice to borrowers that they will not be funding laws because the non-QM market has seized up. This addendum may deal with these funding type problems going forward. Make sure you understand this form before […]
Read More →Mortgage Crisis 2.0 has begun Over the weekend one of the agents who worked with us during the last mortgage crisis received this letter from his buyer’s lender…. “Good Afternoon, Unfortunately, this Loan will not be able to fund as scheduled do (sic) to the Mortgage Industry’s NON QM market freezing and temporarily […]
Read More →Fed announces unlimited purchases of MBS and Treasuries, adds multifamily mortgages from the article… “Following this morning’s Fed announcement, the NY Fed issued a statement revising its mortgage-bond purchase schedule issued last week. The bond purchases probably will total at least $125 billion a day, it said. “The desk plans to conduct operations totaling approximately $75 billion […]
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