Mortgage Snapshot

September 9, 2020
Mortgage Snapshot
Quick news from the world of mortgage lending.

The Mortgage Bankers Association is exploring whether state regulators would be willing to give licensed origination professionals such as underwriters, processors, and closers the long-term flexibility to work out of home offices. “We’d like to see work from home allowed on a permanent basis,” said Jeff Taylor, who is the chairman of the Mortgage Bankers Association’s 50,000-member grassroots lobbying organization, the Mortgage Action Alliance...

The Department of Housing and Urban Development (HUD) officials have indicated that the department will extend a ban on evictions and foreclosures for homes backed by the Federal Housing Administration (FHA) through the end of the year...

In a letter, Fannie Mae CEO Hugh Frater and Freddie Mac CEO David Brickman addressed industry criticisms following the GSEs’ announcement of an additional 50 basis point fee on refinances. “Contrary to much of the criticism we have received since making this announcement, this will generally not cause payments to ‘go up.'” the letter states. “The fee applies only to refinancing borrowers, who almost always use a refinancing to lower their monthly rate. This modest fee will help us continue helping those who are really hurting during the pandemic.”