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  • Refinances Surge Amid Coronavirus Uncertainty
    With mortgage rates near historic lows, refinances are booming. So reports Yahoo Finance. Refinance applications jumped 26% in the week ending March 27, after sliding 34% in the previous week, according to the Mortgage Bankers Association. Refinance volume, which was more than two and a half times heavier than a… Read more »
  • Mortgage Startup Better.com Looks to Add 1,000 Jobs
    Digital mortgage startup Better.com is mounting a major hiring push. So reports Crunchbase. The New York-based company plans to hire roughly 1,000 new employees for all of 2020, Better.com’s CEO and co-founder Vishal Garg wrote in an internal memo to employees, citing “growing” customer demand. Better.com is particularly targeting laid-off… Read more »
  • HUD Launches Mortgage Relief Plan to Help With COVID-19
    The U.S. Department of Housing and Urban Development has imposed a moratorium of up to a year on struggling borrowers’ payments for government-insured mortgage loans. So reports Politico. The announcement to mortgage servicers came only a couple of weeks after HUD called for up to a two-month delay on foreclosures… Read more »
  • Black Knight White Paper Explores Pandemic’s Impact on Mortgage Biz
    COVID-19 and the nation’s response to the pandemic are significantly affecting the real estate and mortgage industries. That’s one of the key findings of a new white paper released by Black Knight last week. Additionally, real estate showings, listings and sales are already being affected by social distancing and supply-chain… Read more »
  • Mortgage Rates Fall Again, Near Record Low
    Interest rates on home loans have dropped for a second straight week and are again within striking distance of their all-time lows. So reports Yahoo Finance. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.33% for the week ending April 2, down from 3.50% a week earlier. The all-time… Read more »
  • Bodnar of MMG: What to Know About a Miserable Jobs Report
    Bill Bodnar of The Mortgage Market Guide discusses the jobs report and its impact on the stock and bond markets. But, he adds, there are better times ahead. With the amount of money being thrown at the pandemic, which will ultimately be a temporary event, Bodnar see a strong economic… Read more »
  • ShareState Unveils Margin Call Relief Program
    Real estate crowdfunding company ShareState has announced a relief program for lenders facing margin calls. Called “Lifeline Solution,” the program aims to “bring much-needed liquidity to those lenders and aggregators who are currently experiencing a liquidity crunch,” ShareState CEO Allen Shayanfekr said in a statement. A website for the program… Read more »
  • Record Unemployment Could Spell Pause for Housing Market
    Unprecedented unemployment levels, as businesses shut down to slow the coronavirus pandemic, might portend a sharp and abrupt slowdown for the housing market. So reports Realtor.com. After an all-time high of 3.28 million Americans filed for unemployment benefits in the week ending March 21, Realtor.com chief economist Danielle Hale said… Read more »
  • Fintech Hunting Podcast: Liquidity, the Outbreak and Working from Home
    This podcast from Fintech Hunting features Brian Koss, Executive Vice President of Mortgage Network. Koss discusses how the coronavirus outbreak is impacting the market and liquidity, the state of the industry, and adapting to working from home. Koss, who began his 30-year career in mortgage banking as a loan officer,… Read more »
  • Big Banks Agree to California Mortgage Moratorium
    Leading banks have agreed to allow up to an extra 90 days on mortgage payments in California, the governor has announced. So reports The Hill. Wells Fargo, Citibank, JPMorgan Chase and U.S. Bank were among more than 200 banks that signed on to the grace period, Gov. Gavin Newsom (D)… Read more »
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