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Freddie Mac has laid out options that borrowers who have been granted forbearance on its loans have when it comes to repayment. The company's CEO David Brickman stressed that borrowers will never be asked to repay missed payments in one lump sum. March, the company, along with the other GSE Fannie Mae, announced several actions to assist homeowners facing financial hardship due to COVID-19. These include forbearance during which a borrower's payments are reduced or suspended. While borrowers in forbearance must repay the missed payments, full repayment immediately following forbearance is just one option open to them. Brickman said, "Simply put, if you are a homeowner seeking forbearance and Freddie Mac owns your loan, you are never required to make up missed payments in a lump sum. Our policies
Housing News
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Freddie Mac has laid out options that borrowers who have been granted forbearance on its loans have when it comes to repayment. The company's CEO David Brickman stressed that borrowers will never be asked to repay missed payments in one lump sum. Mar... (read more)
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MBS Commentary
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After weeks and weeks spent discussing the impacts on growth surrounding coronavirus, we're only now getting to the very first release of GDP for Q1. Forecast consensus is -4.0. There will be 2 additional revisions in the 2 following months and... (read more)
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Rob Chrisman
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My Saturday was going pretty well until I realized it was Sunday. Remember when Zillow was going to take over the mortgage business? Or Amazon was going to undercut everyone’s comp structure? Or TRID was going to spell the end of every lender? ... (read more)
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Mortgage Rate Watch
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Let's get caveats out of the way upfront. No conversation about mortgage rates would be complete without a reminder that some lenders are very far removed from the averages. Moreover, even a lender is offering rates that are in line with today's aver... (read more)
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Housing News
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March is typically the strongest month of the year for mortgage performance, probably because, according to Black Knight the receipt of tax refunds allows delinquent borrowers to catch up on their payments. However, last month the delinquency rate ro... (read more)
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Housing News
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The Census Bureau and Department of Housing and Urban Development's report on new home sales in March is the first real time indication of the impact the COVID-19 mitigation is having on total sales. The report on existing homes, released a few days ... (read more)
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