By Jim Perskie The federal government on Monday sent letters to the nation’s largest apartment landlords warning them to honor federal rules preventing renters from being evicted for non-payment of rent during the pandemic. The Consumer Financial Protection Bureau and Federal Trade Commission reminded landlords that the temporary moratorium on evictions is in place through…
By Jim Perskie The delinquency rate for home mortgages increased by nearly 4 percentage points during the second quarter as the Covid-19 pandemic fully took hold in the United States, the Mortgage Bankers Association announced Monday. The rate climbed to 8.22 percent of all mortgage loans at the end of June – up 386 basis points…
By Jim Perskie Opposing wings of the Democratic Party released sweeping policy recommendations, including proposals to reverse policies and practices that “have made homeownership all but impossible for millions of working families.” The proposals – released by the Biden-Sanders Unity Task Force – were released Wednesday as part of a 110-page document meant to bring together supporters of…
By Jim Perskie The number of mortgage loans in forbearance decreased slightly in the latest Mortgage Bankers Association weekly report – though there are other indications that the number may begin to climb again. The MBA report released Monday found that 8.47 percent of mortgages in the United States were in forbearance as of June 21,…
By Jim Perskie The housing recovery is continuing, even as the coronavirus pandemic is showing no signs of letting up across the United States. The realtor.com Weekly Housing Recovery Index released Thursday increased two points for the week ending June 20 – climbing to 92 points, just eight points short of the pre-pandemic baseline. This…
By Jim Perskie The number of mortgage loans in forbearance in the United States began declining for the first time since the CARES Act was passed in response to economic hardships caused by the COVID-19 pandemic shutdown across the country. The Mortgage Bankers Association’s weekly survey found that 8.48 percent of mortgages were in forbearance…
By Jim Perskie More than 50 years after redlining was outlawed, the practice still has a profound impact on the wealth and property values in neighborhoods across the country, according to a report released by Redfin on Thursday. The typical homeowner in a neighborhood that was “redlined” for mortgage lending by the federal government has gained…
By Jim Perskie Federal Housing Finance Agency Director Mark Calabria told Congress that forbearance rates in the United States are “manageable,” noting that the number of homeowners pausing mortgage payments has slowed considerably in recent weeks. In testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on Tuesday, Calabria said that the…
By Jim Perskie Federal Housing Finance Agency Director Mark Calabria told Congress on Tuesday that he will submit legislative recommendations net week to strengthen the agency’s regulatory and supervisory authority “to fix structural flaws in our housing finance system.” Testifying before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Calabria also stressed FHFA had…
By Jim Perskie Nearly half of the non-performing loans sold by Fannie Mae and Freddie Mac to the private sector last year were located in New York, New Jersey or Florida, according to a report released Monday by the Federal Housing Finance Agency. The report found that 44 percent of the loans – known as NPLs…
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