Mortgage Firm Productivity Not Hit by Telework April 10, 2020 Maria Volkova Even as the majority of employees at mortgage companies are telecommuting, productivity doesn’t seem to be impacted.Read More
UWM Promises No Layoffs April 10, 2020 Maria Volkova United Wholesale Mortgage’s CEO has reassured employees that there will be no layoffs due to the current coronavirus crisis. Read More
Short Takes: Only One Banker in Town: Jerome Powell / Maybe Bernie Was Onto Something? / Coming Soon: An M&A Bonanza? / Key Updates from HUD April 9, 2020 Paul Muolo and Maria Volkova Make no mistake about it: The Fed is running the table...Read More
Ginnie Allows Electronic Signatures for HUD Forms April 9, 2020 Maria Volkova Ginnie Mae temporarily waives in-person signatures and takes other precautions in response to the pandemic.Read More
FHA Expects to Release COVID-19 Forbearance Figures by Month’s End April 9, 2020 Maria Volkova FHA forbearance is expected to swell in the weeks and months ahead...Read More
IRS Temporarily Shuts Down IVES April 9, 2020 Maria Volkova The Internal Revenue Service has temporarily closed its Income Verification Express Service used by lenders to verify borrowers’ tax returns.Read More
HUD Extends Forbearance as Unemployment Rises April 3, 2020 Maria Volkova HUD extends forbearance for a six-month period. As unemployment spikes, FHA/VA servicers brace themselves for delinquencies. Read More
FHA/VA Lenders Raise Credit Score Requirements April 3, 2020 Maria Volkova In the wake of the pandemic, FHA and VA lenders are raising credit score minimums, at least temporarily. Some are in mid-600s. Read More
VA Guidance for Lenders in Response to COVID-19 April 3, 2020 Maria Volkova The VA has released two notices outlining how lenders should address borrowers affected by COVID-19. Read More
NCLC Urges HUD to do More for Reverse Mortgagors April 3, 2020 Maria Volkova The NCLC has urged HUD to extend the moratorium for reverse-mortgage borrowers by another six months. Read More