Low Rates Could Mitigate Some COVID Damage

Posted To: MND NewsWire

Black Knight has done an early analysis of the potential impacts of the COVID-19 pandemic on the housing market . In our summary of the first part of their paper we looked at the condition of the housing market in the early part of the year, before the full extent of what might be coming was evident. It was a market in which delinquencies were at near record lows, construction was picking up, home sales were strong, homeowners were sitting on high levels of equity, and lenders were in the midst of a refinance boom. Then as concerns and uncertainty over the virus began to emerge, so did unusual volatility in the secondary market and consequently in interest rates , to the point where the Federal Reserve stepped in with a round of quantitative easing. Black Knight then looked toward the probable…(read more)

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Low Rates Could Mitigate Some COVID Damage
Low Rates Could Mitigate Some COVID Damage

Bond market reflecting fundamentals: Jeff Rosenberg

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Jeffrey Rosenberg, BlackRock senior portfolio manager, joins "Closing Bell" to discuss the state of the markets and bonds.

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Bond market reflecting fundamentals: Jeff Rosenberg
Bond market reflecting fundamentals: Jeff Rosenberg

Forbearance Explosion Beginning to Hit Mortgage Market

Posted To: MND NewsWire

Homeowners who are either already feeling the financial effects of COVID-19 or anticipate it will happen are being proactive in requesting help from their lenders . A survey conducted by the Mortgage Bankers Association among mortgage services found that requests for temporary forbearance has exploded since the first of March. The percentage of total mortgages in forbearance grew from 0.25 percent on March 2 to 2.66 percent by April 1. Loans backed by Ginnie Mae saw the greatest growth, increasing from 0.19 percent to 4.25 percent. Independent mortgage bank (IMB) servicers now have the largest share of loans in forbearance (3.45%), reflecting their focus on Federal Housing Administration (FHA) and Veterans Affairs (VA) home loan programs, and serving low-to moderate income borrowers. The share…(read more)

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Forbearance Explosion Beginning to Hit Mortgage Market
Forbearance Explosion Beginning to Hit Mortgage Market

Mortgage forbearance requests surged 1896% during the second half of March

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CNBC's Diana Olick reports how the rise of mortgage forebearance requests for the month of March and early April.

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Mortgage forbearance requests surged 1896% during the second half of March
Mortgage forbearance requests surged 1896% during the second half of March

Mnuchin: Seeking $250 billion more for payment protection program

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CNBC's Kayla Tausche reports on Treasury Secretary Steve Mnuchin's tweet indicating that Congress is working to secure an additional $250 billion for the small business that need the money.

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Mnuchin: Seeking 0 billion more for payment protection program
Mnuchin: Seeking 0 billion more for payment protection program

Santelli Exchange: A leveraged buyout of the United States of America

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Grant's Interest Rate Observer Founder and Editor James Grant and CNBC's Rick Santelli discuss the limitless well of liquidity from the Fed and price discovery.

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Santelli Exchange: A leveraged buyout of the United States of America
Santelli Exchange: A leveraged buyout of the United States of America

After Blockbuster February, Home Prices Face Uncharted Territory

Posted To: MND NewsWire

Home price gains accelerated for the fourth straight month in February with a 4.1 percent annual increase in the CoreLogic Home Price Index (HPI) The 12-month rate of appreciation in January was 4.0 percent. The company said home prices nationwide, including distressed sales, rose 0.6 percent from January to February, up from growth of 0.1 percent the previous month. “Before the onset of the pandemic, the quickening of home price growth during the first two months of 2020 highlighted the strength of purchase activity ,” said Dr. Frank Nothaft, chief economist at CoreLogic. “In February, the national unemployment rate matched a 50-year low, mortgage rates fell to the lowest level in more than three years and for-sale inventory remained lean, all contributing to the pickup in value growth.” CoreLogic…(read more)

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After Blockbuster February, Home Prices Face Uncharted Territory
After Blockbuster February, Home Prices Face Uncharted Territory

Fed makes Main Street lending facility a top priority

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CNBC's Steve Liesman reports the latest on the Federal Reserve's efforts to provide relief to the economy as the coronavirus-driven downturn continues.

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Fed makes Main Street lending facility a top priority
Fed makes Main Street lending facility a top priority

Warehouse, Broker Products; Webinars Everywhere on Everything; Mr. Cooper's Early Forbearance Figures

Posted To: Pipeline Press

Is there good news out there? You bet! Ying Ying and Le Le mated . That aside, Day 98 of captivity. We’ve all found out that really hot water and sudsy soap break down the protective outer layer of the virus. And I found out I have the most loving wife: Last night I woke up while she was holding a pillow tightly over my face to protect me from Covid-19! And this morning I saw a neighbor talking to her dog. It was obvious she thought her dog understood her. I came into my house, told my cat Myrtle…. we laughed a lot. Yes, the home life has changed, and video conferencing has entered our homes in a big way . The question, “Is the call audio, or video too?” is common. Here’s a helpful Zoom pie chart . What could possibly go wrong with live feeds and children, right? A Norwegian…(read more)

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Warehouse, Broker Products; Webinars Everywhere on Everything; Mr. Cooper's Early Forbearance Figures
Warehouse, Broker Products; Webinars Everywhere on Everything; Mr. Cooper's Early Forbearance Figures

Small businesses continue to wait for loans as Main Street optimism plummets

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With the Payroll Protection Program up and running, small businesses around the country are reaching out for a lifeline. CNBC's Kate Rogers reports how many businesses have received a loan.

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Small businesses continue to wait for loans as Main Street optimism plummets
Small businesses continue to wait for loans as Main Street optimism plummets