Mortgage Roundup (4/2/21) – Rates, Bans & QM

Good morning! Today is Friday, April 2. More than 11,000 cases of a troubling Covid-19 variant are being reported in the U.S., with the highest numbers in Florida, Michigan and New Jersey. MTV says its programming has stigmatized mental health and vows to change. The Pope told priests to be humble in serving their community. 

And in mortgage and housing news …

MORTGAGE RATES: The Mortgage Note reports that the 30-year fixed-rate mortgage increased for the seventh straight week – but it was a tiny one this week, according to Freddie Mac’s weekly Primary Mortgage Market Survey.

PENALTIES: Mortgage companies could face penalties if they don’t take steps to prevent a deluge of foreclosures that threatens to hit the housing market later this year, a U.S. regulator said.

VACATION-HOME MORTGAGES: Fannie, Freddie changes could make vacation-home mortgages that surged to records during pandemic more expensive.

EVICTION BAN EXTENDED: As the CDC extends the eviction ban, loan servicers face a range of outcomes.  

BLACK REAL ESTATE: Black developers seek more capital and opportunities in real estate.

LIVABLE SUBURBS: A new study factors in home prices, unemployment, property taxes, and more to pinpoint attractive suburban areas.

NON-QM LENDING: Sprout Mortgage launches new program for brokers to expand their non-conforming loan business

BITCOIN BANDWAGON: Goldman Sachs joins the Bitcoin bandwagon at the behest of its customers.

EVICTION PREVENTION: Philadelphia is trying mediation to prevent a rash of evictions.  

ANONYMOUS BUYING: New reporting requirements mean buying a home anonymously through an LLC is no longer a reliable way to hide who owns a property.