Posted To: Pipeline Press

Who doesn’t like being kept informed at absolutely no cost? There is no reason for anyone not to join the Mortgage Action Alliance as the Mortgage Bankers Association is knee-deep in political issues that lenders should know about. Like forbearance, part of the CARES Act. Recall that the Great Recession (Financial Crisis, whatever you want to call it) unfolded over years and had an entirely different root cause than what we’re going through now with COVID. For example, every day we talk about forbearance questions and statistics, yet we won’t know the answers, or the impact on home ownership, for over a year. In the meantime, the industry has refinanced hundreds of millions of dollars’ worth of home loans, and it would seem that a) volumes are quieting down, and b) margins…(read more)

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Source: Mortgage News Daily