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UI Says HARP 2.0 Could Help Pandemic-Era Borrowers; Rates Back to Recent Lows

The Urban Institute (UI) is advocating for a streamlined refinancing program similar to the Home Affordable Refinance Program (HARP) which aided many homeowners during the Great Recession to assist those impacted by the pandemic. HARP, which was used by more than 3.4 million borrowers between 2009 and 2018, offered simplified documentation, automated appraisals, no or […]

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Existing Sales Rise, But Inventory is a Drag; Rates Surging, How Bad Could it Get?

There’s no precedent for the winning streak enjoyed by mortgage rates in the 2nd half of 2020. We’ve never seen so many new record lows in the same year, and we never spent as much time at those lows (not even close). All of the above makes it easy to get lulled into a false […]

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Next Week Could be Crazy (Obviously); Fannie/Freddie Report Higher Profits; Forbearances Increasing or Just Reinstating?

Both GSEs reported financial results for the third quarter of 2020 that were significantly higher than both their Q2 2020 and their 2019 numbers . Fannie Mae’s net and its comprehensive incomes were $ 4.2 billion and Freddie Mac’s net and comprehensive incomes came in at $ 2.5 billion and $ 2.4 billion, respectively. Fannie […]

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‘Massively concerning’ jobs report sends a signal that the economic recovery could be fading – CNBC

‘Massively concerning’ jobs report sends a signal that the economic recovery could be fading    CNBC…(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Around The Web

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New Refinancing Fee Could Roil Mortgage Market

New Refinancing Fee Could Roil Mortgage Market This fee could cost homeowners thousands of dollars, which will destabilize the market and take away opportunity. Media Contact:  Patrick Newton 202-383-1290 Fannie Mae & Freddie Mac (GSEs)

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Coronavirus relief stalemate could drag on for weeks

Progress toward a coronavirus aid deal in Washington is nonexistent as millions wait to see whether they can afford food and housing….(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Around The Web

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