COVID-19 Forbearance Issues & Cash-out Considerations
Published April 24, 2020
As you are likely aware, the prospect of borrowers becoming unemployed as a result of COVID-19 shutdowns has become a reality, but the depth of that part of this crisis has yet to be determined. Thus, the threat of loans entering forbearance is a major [...]
Downside Risks in the Mortgage Market
Published April 7, 2020
The COVID-19 pandemic is not a housing crisis in its nature, but there are several places throughout the industry where the pandemic or policy response to it has hit at some vulnerabilities in the market. For the most part, these vulnerabilities tend to [...]
Is the Virus-related Mortgage Market Turmoil Abating?
Published April 6, 2020
The COVID-19 crisis continues, and the mortgage industry is still reeling from its effects. Margin calls almost went too high for the industry to stomach, investor and agency cash pricing is awful, and March mark-to-market (MTM) results are ugly, though [...]
The CARES Act and its Impact on the Economy and the Mortgage Market
Published April 3, 2020
There are two primary concerns for the mortgage industry in regard to the pandemic: one is the secondary market losing liquidity and the primary market drying up; the other is the possibility that the pandemic will cause a wave of unemployment and lack of [...]
Recent Actions Taken in Response to the COVID-19 Pandemic
The Federal Reserve (FED) has had a busy past few weeks. Since lowering the Fed Funds Rate1 and announcing their first Quantitative Easing (QE)2 actions of this crisis, they have taken several other actions to maintain liquidity and confidence in the economy. Many of these [...]
COVID-19 and its Impact on Today's Mortgage Pipelines
The COVID-19 (Coronavirus Disease 2019) pandemic throughout the world continues to become more critical by the day and most experts predict things will get worse before they get better. The impact on society, the world economy, and our industry remain to be seen, but the [...]