According to industry experts, the act can help prevent foreclosures during the COVID-19 outbreak.
The former CEO of Freddie Mac points out that the spread of the coronavirus could cause spell issues for the GSEs and mortgage-backed securities.
The Bureau is postponing some data collections from industry on Bureau-related rules to allow companies to focus on responding to consumers in need and making changes to its supervisory activities to account for operational challenges at regulated entities.
An industry insider praised the actions by the GSEs, FHFA, and HUD to help prevent foreclosures during the COVID-19 outbreak.
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Already-low rental home inventory, relative to increased demand, drove the rental vacancy rate on one-unit homes down to 5.2%, which was the lowest one-unit rental vacancy rate since 1995.
The London Inter-Bank Offered Rate, is nearing its end, and set to expire sometime after 2021, with the Secured Overnight Financing Rate, or SOFR taking its place.
Doug Duncan, Chief Economist at Fannie Mae, notes that the increase indicates an expected rise in household financial stress.
Executives from Penny Mac, Planet Financial Group, and Rushmore Loan Management Services, are featured on the first installment of DS5: Inside the Industry.
Five Star Global is excited to launch DS5, a video newscast where we highlight economic and industry updates and profile executives and leaders.
Mortgage rates hit an all-time low recently due to the negative effect of the coronavirus pandemic on the U.S. economy, but in many cities across the country, homeowners are finding that they owe more on their home than their home is worth.