We’re still waiting to hear word on pending legislation to provide economic relief to consumers and businesses affected by the pandemic. Included in the bill is a funding mechanism for nonbank servicers.
Homebridge Financial’s wholesale division and theLender both announced suspensions to their non-QM lending operations. Others will follow, rest assured...
Consultant Paul Hindman, who heads Grid Financial, said he knows of one lender who recently sent 1,000 workers home “with new equipment.” He did not identify the shop by name.
Federal forbearance on government backed mortgages is a panacea to deal with the economic fall-out caused by the novel coronavirus. But eventually there will be implications in the primary and secondary markets.
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