Originations

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

The language most frequently spoken by LEP consumers is Spanish, followed by Chinese, Vietnamese, Korean and Tagalog. The Federal Housing Finance Agency's online clearinghouse translates CARES Act forbearance information into these languages.

Purchase mortgage application volume was at its most in over a decade as consumer confidence continued to improve in the aftermath of the coronavirus shutdown, according to the Mortgage Bankers Association.

The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists.

The measures extended by the Federal Housing Finance Agency include alternative methods used for certain appraisals and for verification of employment.

The Federal Housing Administration's move to insure loans with forbearance could help support homeownership opportunities constrained by the coronavirus if one change was made to it, trade groups said.

The coronavirus made it particularly tough for independent contractors and independent business owners to get home mortgages, but there are some signs that market may recover soon.

Mortgage applications increased 2.7% from one week earlier, as purchase volume is now outpacing the prior year's activity, according to the Mortgage Bankers Association.

With mortgage rates reaching all-time lows in the opening quarter, refinance originations were up in 97% of housing markets during 1Q, according to Attom Data Solutions.