A report from the Orange County Register. "Impac Mortgage temporarily shut lending operations and furloughed 333 workers due to market turmoil tied to the novel coronavirus. The Irvine-based company, one of the few non-traditional lenders that survived the mortgage collapse…
A report from Atlanta Agent Magazine in Georgia. "The country is much better positioned to rebound from the current recession than in the Great Recession, according to Lawrence Yun, chief economist for the National Association of Realtors. The housing shortage…
An opinion piece from Christopher Whalen, Chairman, Whalen Global Advisors LLC at National Mortgage News. "Last week was difficult for members of the mortgage industry, especially for those members of the residential lending community who've been working in the world…
Two reports from Housing Wire. "One thing that is clear, however, is that the mortgage lending landscape is vastly different in early April than it was in early March. Certain segments of the business – namely government, non-QM, and jumbo…
A report from the Oregonian. "'I’m still writing offers,' says real estate agent Adam Elliott. 'Motivated sellers are dropping prices and if you’re 100 percent sure you’re not losing your job, now is the right time to buy. Agents all…
A report from Forbes on what's happening with FHA loans. "Today should have been the day that Ignacio Paulino closed on his new mortgage loan. But thanks to the coronavirus outbreak—and the fears that it will set off a wave…
It's Friday desk clearing time for this blogger. "Nonbank financial firms spent years lobbying against tougher regulation and stricter capital requirements, arguing that their emerging dominance in mortgage lending didn’t pose a risk to the financial system. Now, many of…
A report from HousingWire. "HousingWire spoke to Todd Bitter, a loan originator servicing the Greater Phoenix-Scottsdale market. HousingWire: What are you doing within your lending business to adapt to the current market situation? Todd Bitter: For the last quite a…
A report from Reuters. "The coronavirus crisis is likely to cut home and office building prices, may lead to a permanent shift in the demand for office space, and could push highly indebted households and companies toward default, Boston Federal…
A report from Housing Wire. "It looks like borrowers who don’t fit neatly into Fannie Mae and Freddie Mac’s lending criteria could soon be running out of options if they want to buy a house. Over the last week, many…