Lending Safety Amid the Pandemic

Today’s News Synopsis:

Can lenders balance access to credit with increasing risk?  According to the latest MBA Weekly Survey, mortgage applications decreased 17.9% from last week.  More and more borrowers are seeking relief as requests for mortgage delays increased by almost 2,000%.

In The News:

Mortgage Bankers Association “Mortgage Applications Decrease in Latest MBA Weekly Survey” (4-8-2020)

“Mortgage applications decreased 17.9 percent from one week earlieraccording to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 3, 2020.”

HousingWire “Can lenders balance access to credit with increasing risk?” (4-8-2020)

“Many lenders are tightening lending standards as COVID-19 spreads, but is there room to increase credit access to help first-time homebuyers and others achieve their goals of homeownership?”

CNBC “Requests to delay mortgage payments jump nearly 2,000% as borrowers seek relief during coronavirus outbreak” (4-8-2020)

“Mortgage payments for the month of April are not even officially late until the 15th, but borrowers are flooding into the government’s mortgage forbearance program.”

Curbed “In the Hamptons, coronavirus heightens tensions” (4-8-2020)

“The spread of COVID-19 has exposed divides between second-home owners and year-round residents.”

HousingWire “Calabria does not expect widespread delinquencies due to coronavirus” (4-8-2020)

“While some in the housing industry are expecting mortgage delinquencies to climb to 20% or more due to the impact of the coronavirus, Federal Housing Finance AgencyDirector Mark Calabria said he feels the figure will be much lower than that.”

Mercury News Despite budget shortfall, San Jose spends $17 million on tiny homes for homeless amid the coronavirus outbreak (4-8-2020)

“With thousands of San Jose residents on the streets with no safe place to ride out the mounting coronavirus pandemic, city leaders are fast-tracking a $17 million plan to build hundreds of tiny homes for the homeless population”


California Real Estate Investor Events

ALERT: Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With Inland Gateway Association of Realtors on Thursday, April 9 (ONLINE ONLY).

ALERT: Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Pasadena FIBI on Thursday, April 16 (ONLINE ONLY).

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.


Looking Back:

Does the car the real estate agent drives matter, and how much?  What features should you add to your home if you want to increase the chances of it selling by 30%?  Due to the decrease in mortgage rates, housing sentiment saw a huge increase in March.


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Information on Note Investing

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