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

April 27, 2020 Download our Mobile App: Download our Mobile App: Housing News Freddie Announces No Lump Sump Required After Forbearance 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) MBS Commentary MBS Live Week Ahead: Fed Announcement, 1st Look at GDP; Fewer Fed Purchases 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) Rob Chrisman Servicing, LO Jobs; CRM, Broker Products; Webinars From Your Couch; Top Lenders Weigh in on Covid 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) Mortgage Rate Watch Mortgage Rates at Lowest Levels in Several Weeks 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) Housing News 3.4 Million Loans Already in Forbearance - Black Knight 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) Housing News Covid Impacts New Home Sales, Largest Decline in 7 Years 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) Mortgage Rates 30 Yr. Fixed Rate 6.79% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.79% +0.02 0.00 15 Yr. Fixed 5.99% +0.01 0.00 30 Yr. FHA 6.30% +0.02 0.00 30 Yr. Jumbo 6.87% 0.00 0.00 7/6 SOFR ARM 6.33% -0.06 0.00 30 Yr. VA 6.31% +0.02 0.00 Updates Daily - Last Update: 7/10 15 Yr. Fixed Rate 5.99% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 99.53 -0.03 Price / Yield Change MBS UMBS 5.5 99.53 +0.06 UMBS 6.0 101.31 +0.05 GNMA 5.5 99.82 -0.02 GNMA 6.0 101.35 -0.03 Pricing as of: 7/11 4:43AM EST 10 Year US Treasury 4.3666 +0.0198 Price / Yield Change US Treasury 2 YR Treasury 3.879 +0.002 5 YR Treasury 3.945 +0.010 7 YR Treasury 4.140 +0.013 10 YR Treasury 4.367 +0.020 30 YR Treasury 4.891 +0.021 Pricing as of: 7/11 4:43AM EST Latest Video Volatility falling a great sign for markets: JPM Securities' Mark Lehmann What it's like to be a millennial landlord during the coronavirus pandemic SBA website experiencing issues as loan program reopens Trump advisor Kevin Hassett says US economy could see 30% contraction in se... Around the Web CNBC The Fed won't move on rates this week, but here are some other things it could do CNBC Many small businesses go back to work as some states lift stay-at-home restrictions Reuters Wall Street gains as some U.S. states reopen for business Reuters New York state cancels presidential primary over coronavirus risk CNBC Jeffrey Gundlach says a retest of the low is 'very plausible,' market underestimating social unease Reuters U.S. payroll protection program: What has changed in round two? CNBC Homebuilders suddenly see sales jump as renters flee small urban apartments Calculated Risk Blog Dallas Fed: "Contraction in Texas Manufacturing Sector Worsens", Record Low Activity Index NAHB Eye on Housing Share of Americans Looking to Buy a Home Drops to Lowest 1st Quarter Reading in Three Years Reuters U.S. banks gird for mad grab of another $310 billion in new small business aid Calculated Risk Blog TSA checkpoint travel numbers Reuters Taper Tantrum II? Fed's slowing Treasury purchases may boost bond yields FHFA "No Lump Sum Required at the End of Forbearance" says FHFA's Calabria

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