Mortgage Roundup (3/17/20) – Remote Working, Fewer Open Houses & St. Patrick’s Day

Happy St. Patrick’s Day! President Trump releases guidelines to slow coronavirus spread in 15 days, but warns crisis could stretch to summer. Democratic presidential primaries go forward in three big states amid coronavirus spread, as former Vice President Joe Biden looks to shut out Sen. Bernie Sanders. A coronavirus vaccine trial administers its first dose to a participant.

And in mortgage news …

The eight largest U.S. banks say they plan to use the Fed’s “discount window” to help financial institutions navigate the crisis caused by the coronavirus pandemic

The Federal Deposit Insurance Corporation announced that the early retirement and separation program offered to up to 20 percent of its workforce has been suspended as part of the agency’s response to the coronavirus.

As homeowners rush to lock in record low mortgage rates by refinancing, overwhelmed lenders can’t keep pace and are raising rates

Federal Reserve officials are reassuring Americans that the U.S. economy has the ability to remain resilientagainst the slowdown caused by the coronavirus.

Venture capitalists have poured billions into real estate technology over the last decade. But as the coronavirus hammers the economy, that funding may begin to dry up.

In the face of coronavirus, brick-and-mortar real estate companies are quickly moving to remote working options. Here’s what five execs with remote staffs say about making the transition. 

Real estate analysts offer perspectives on how the coronavirus fallout and policy changes will have a sweeping impact on the economy and, therefore, real estate. 

The Department of Justice is investigating FICO’s dominance in the credit market. the DOJ’s Antitrust Division has opened a civil investigation into “potential exclusionary conduct” by FICO.

Selling a house without hosting an open house has more appeal than ever. The coronavirus market downturn offers new opportunities (and challenges) for iBuyers like Zillow and Opendoor.