Apr 16, 2020
In just a matter of days, origination of alternative loans, known as “non-QM lending,” came to an abrupt halt. Non-QM investors worry about risk in an economy shaken by COVID-19 and have stopped buying new loans.
Non-QM lenders now have loans sitting in their pipeline with no buyers. This creates a problem for...
Apr 15, 2020
More than 10 million people applied for unemployment benefits in the last two weeks of March due to Covid-19 and some analysts predict the unemployment rate could climb to 25%. Florida was hit hard in the 2008 crash and many in the state fear the Covid-19 shut down could result in more foreclosures and bankruptcies...
Apr 14, 2020
As we head into the spring home selling season, economist are predicting a dismal performance. There are estimates that home sales could fall by 35% annually compared with previous years. Analysts are watching closing to see if the strong monetary policy implemented in conjunction with pent up demand will create a...
Apr 11, 2020
The bond purchasing program initiated by the fed along with the impact of COVID-19 has created extreme volatility in the 10-year treasury which influences long-term mortgage rates. Just this month, the 10-year ranged from 45 basis points to 1.2%.
As a result of the erratic bond movement, there has been a wave of margin...
Apr 9, 2020
Servicers are required to advance principal and interest on securitized mortgage loans to investors even if the borrower stops making payments.
Earlier this week, to the dismay of many in the servicing industry, the Federal Housing Finance Agency announced it has no plans to create a federally backed liquidity facility...