private money

With So Many Working From Home, How Many Will Stay There?

Today’s News Synopsis: It’s the end of the office as we know it.  New home purchase mortgage applications increased by 21.2% for the month of March.  How are American’s planning on spending their coronavirus relief checks? In The News: HousingWire – “Reverse mortgages get second look amid coronavirus chaos” (4-14-2020) “At a time when the stock …

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From A Safe Distance, Of Course

Today’s News Synopsis: Neighborhood projects that bring smiles to others.  Despite the shift in the economy, it’s important to see some of the silver linings.  eClosings can make closing on a home possible while maintaining social distancing. In The News: Inman – “Want to accelerate your business recovery? Specialize now” (4-13-2020) “Prepare now for the market …

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Surprisingly Strong

Today’s News Synopsis: Home buying demand amidst job loss and Covid-19.  Mortgage rates remained flat with 30-year rates now at 3.33% and 15-year rates at 2.77%.  The amount of mortgage credit available decreased to its lowest in 5 years. In The News: Freddie Mac – “Mortgage Rates Remain Flat” (4-9-2020) “Freddie Mac (OTCQB: FMCC) today released the …

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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 …

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What You Don’t Know Could Come Back To Haunt You

Today’s News Synopsis: Your lender might let you miss a few payments. Ask these 3 questions.  It’s important to know the difference between a mortgage deferment and mortgage forbearance.  Speaking of forbearance, the number of loans in forbearance increased drastically according to the MBA.  ATTOM Data Solutions gives us the areas that will be most …

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NAR To Roll Out Pocket Listing Policy On Track

Today’s News Synopsis: Several MLS’s adding “coming soon” listings.  Mortgage rates decreased again with 30-year rates now at 3.33% and 15-year rates at 2.82%.  Despite businesses being affected by the pandemic, online notaries are helping complete transactions. In The News: Freddie Mac – “Mortgage Rates Drop Again” (4-2-2020) “Freddie Mac (OTCQB: FMCC) today released the results of its Primary …

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Rent Is Due, Know What To Do

Today’s News Synopsis: Inman’s state by state guide on evictions, rents, and foreclosures.  The latest mortgage applications survey from the Mortgage Bankers Association showed a surprising increase in mortgage applications, up 15.3% from last week.  Title companies are getting creative with the way they are holding closings all while maintaining social distancing. In The News: …

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The US Department of Homeland Security Issued Guidance To Identify Essential Industries to Critical Infrastructure

Today’s News Synopsis: Real Estate declared essential business.  What kind of protections are applied to housing under the new stimulus bill?  What can you do if you have no money to pay the rent or mortgage? In The News: Redfin – “What Stay at home and Shelter in Place Orders on Real Estate Services” (3-30-2020) “In …

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