Economy

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

A survey conducted throughout the second quarter found knowledge gaps based on race and income.

Though overall forbearance share is down, the number of extensions is rising as coronavirus hardship filings surpass the 90-day mark that delineates the end of traditional forbearance plans.

The global pandemic and stalled trade negotiations have discouraged farmers and ranchers from taking on more debt and made banks uneasy about extending more credit.

Besides reauthorizing the Paycheck Protection Program, Congress should upgrade the loan forgiveness process, offer businesses the chance to take out a second loan and ensure the pricing satisfies lenders, bankers say.

The mortgage servicing rights package going up for bid adds to signs that the market for large offerings is becoming more active.

The size of the decline depends on how bad the economy sinks and if the coronavirus spread is halted.

No two properties are alike, so lenders are tailoring their approaches for modification, forbearance and repayment of loans to a sector devastated by the pandemic.

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship.

Mortgage rates fell 2 basis points this week, remaining near their historic lows as they have for the past month with the markets roiled by uncertainty, according to Freddie Mac.