Real estate transactions, mortgage underwriting and loan program availability has been affected substantially by a combination of the local health orders attempting to fight the populations exposure to COVID-19, and the economic fallout caused by the “Stay in Place” lockdown. This a moving target, ... » Learn More about Latest Update on COVID-19 Affect on Real Estate Sales and Mortgages
Mortgage Rates
Mortgage Forbearance, Is It Worth It?
Not all lenders are offering "mortgage payment forbearance", regardless if you've heard it from the politicians, or the media. Not all lenders are offering the same terms. Also just because you can, doesn't mean you should. Some lenders are offering multiple options in delaying mortgage payments. ... » Learn More about Mortgage Forbearance, Is It Worth It?
Mortgage Issues are Now Hitting the Media
CNBC is now reporting some of the problems the mortgage industry is now having because of the virus, and Federal Reserve actions. This is a moving target. As I've been blogging about, this is much deeper than just an overabundance of refinances hitting the system at once, there are systematic ... » Learn More about Mortgage Issues are Now Hitting the Media
Mortgage System Issues Created by the COVID-19 Crisis and the Fed Response
The gov’t actions to force interest rates down to help the consumer, are having major unintended consequences in the mortgage origination and servicing systems. I’m attaching below an article from MBS Highway on how the mortgage system works (that 99% of the real estate professionals and ... » Learn More about Mortgage System Issues Created by the COVID-19 Crisis and the Fed Response
COVID-19 Real Estate Sales and Temporary Loan Guideline Changes From Freddie and Fannie
The local multiple listing service has eliminated the ability to note an open house in the system. This is in reaction to guidance from the California Association of Realtors to meet the "Stay at Home" order. Property showings should be done using technology, avoiding personal physical ... » Learn More about COVID-19 Real Estate Sales and Temporary Loan Guideline Changes From Freddie and Fannie