Mortgage refinancings set to surge to a 17-year high

Mortgage refinancings set to surge to a 17-year high

If you’re in the mortgage business, fasten your seatbelts. Refinance volume is set to spike to a 17-year high this year as mortgage rates fall to the lowest levels ever recorded, Fannie Mae said.

Even as other parts of the economy tank, lenders will originate $1.5 trillion in refis in 2020, a 51% jump from 2019, according to the forecast. That would be the highest level since 2003 when $2.5 trillion of mortgages were refinanced, according to data from the Mortgage Bankers Association.

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Fannie, Freddie Announce Mortgage Deferral Program For Homeowners Impacted By COVID-19

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Fannie Mae and Freddie Mac have announced additional relief options for homeowners struggling due to the COVID-19 pandemic.

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Credit Score Outta Shape?

#creditrepair #creditscores #credithelp

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Financially Impacted by COVID-19

#mortgage #creditrepair #creditors #autolender #studentloan #creditscores #covid19 #covidhelp

 

 

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Under Fed’s new criteria, Equifax, Nasdaq and Tiffany & Co. are ‘Main Street’ companies

Companies with up to $5 billion in annual revenue now qualify for emergency lending program

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Bad Credit Score?

#badcreditscore#creditscores#credithelp#mortgage#realestate

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Many borrowers won’t have to make missed mortgage payments all at once

The Federal Housing Finance Agency affirmed Monday that borrowers who are approved to pause or temporarily reduce their mortgage payments and whose loans are owned by Fannie Mae or Freddie Mac are not required to make a lump-sum payment when the relief period ends. The independent federal agency oversees Fannie Mae and Freddie Mac, government-sponsored entities that purchase mortgage loans from lenders and back more than 40 percent of U.S. mortgages, according to the Urban Institute.

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