All posts by Colin Robertson
Fannie Mae and Freddie Mac Roll Out New Payment Deferral Option
To further complicate the complicated mortgage relief picture surrounding the coronavirus outbreak, Fannie Mae and Freddie Mac have released their new “payment deferral” option early. Originally slated to roll out on January 1st, 2021, the pair are encouraging loan servicers ... Read More »
California Homeowners Now Eligible for 90-Day Mortgage Payment Relief Due to Coronavirus
California Governor Gavin Newsom has announced a “major financial relief package” that gives homeowners in the Golden State a three-month mortgage reprieve. Those who have been (or will be) economically impacted by the coronavirus (COVID-19) are eligible to receive a 90-day ... Read More »
Mortgage Refinance Applications Triple from a Year Ago, But Will They All Fund?
While the mortgage market has become a bit of a mess lately, lenders are apparently still totally slammed and doing record business. For example, Quicken Loans CEO Jay Farner told Bloomberg today that, “March will be the largest closing month ... Read More »
Homebridge Financial Review: Lots of Niche Loan Programs
Homebridge Financial Quick Facts Headquartered in Iselin, New Jersey Founded in 1989 Top-10 privately held nonbank mortgage lender Operates two wholesale mortgage divisions Funded more than $11 billion in home loans in 2018 Has roughly 1,000 mortgage loan originators Licensed ... Read More »
Streamlined Mortgage Relief Program Could Mean No Payments for 12 Months
A group of mortgage industry heavyweights have sent a letter to the Federal Reserve, HUD, FHFA, CFPB, Treasury Department, and the White House advocating for a uniform, streamlined mortgage relief program in the wake of the coronavirus outbreak. It could ... Read More »
Quicken Loans Warns Some Parts of Loan Process May Not Proceed Due to Shelter-in-Place
Quicken Loans told customers certain parts of the loan process “can’t proceed” in areas of the country affected by shelter-in-place orders. Specifically, they said home appraisals can’t be conducted while homeowners are sheltering in place, nor can rate lock requests ... Read More »
Top iBuyers Stop Buying Homes: Zillow, Redfin, Opendoor Purchases All on Hold
The real estate market carnage continues with all the major iBuyers pausing home purchases thanks to the coronavirus. Zillow Offers Pauses Purchases This morning, Zillow announced that it had stopped home buying via Zillow Offers amid the “market uncertainty” related ... Read More »
Bank of America, Ally Home, Quicken Loans, Wells Fargo Offer to Defer Mortgage Payments Due to Coronavirus
Here comes the mortgage assistance! I honestly thought I wouldn’t be writing about this sort of stuff anytime soon, but here we are. It feels like 2009 all over again. As previously blogged about, all the major housing agencies have ... Read More »
Embrace Home Loans Review: Is Their Founder the Father of Mortgage Refinancing?
Embrace Home Loans Fast Facts Founded in 1983 by Dennis Hardiman Previously known as Advanced Financial Services Inc. before name change in 2009 Located in Middletown, Rhode Island Fannie/Freddie, FHA, VA, and USDA-approved direct mortgage lender Licensed in 48 states ... Read More »
