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Breaking News

Breaking News

Coronavirus Impact On Jobs And American Businesses

BREAKING NEWS: The Coronavirus Impact On Jobs And American Businesses Yesterday on April 2, 2020, The American people learned some new information during the coronavirus White House task force briefing. The COVID-19 coronavirus outbreak has sent the global economy into unchartered waters The United States economy is no different We learned some key information throughout the task force briefing It seems to me that these briefings are getting picked apart by the media This is the time when Americans…

Coronavirus Threatening Mortgage Industry And Borrowers

BREAKING NEWS: Coronavirus Threatening Mortgage Industry And Borrowers Coronavirus Threatening Mortgage Industry: The coronavirus pandemic crisis has hit home hard The US economy is in shambles The US economy was rock solid prior to the pandemic In February 2020, the Dow Jones Industrial Average hit an all-time high of 29,000 The value of most American's 401k was up 50% or more since President Donald Trump took office in 2016 The unemployment rate hit a 50 year low at 3.5% Job growth was at an…

Lenders Charging Discount Points During Coronavirus Crisis

BREAKING NEWS: Lenders Charging Discount Points During Coronavirus Crisis Lenders Charging Discount Points during the coronavirus mortgage crisis due to illiquidity on the secondary market. The coronavirus pandemic has halted the US economy This holds especially true for the mortgage industry The press does not cover the horrific damage the 2020 economic meltdown has on the mortgage market Mortgage rates are at an all-time historic low However, lenders are increasing rates due to liquidity issues…

Home Buying Process During The Coronavirus Pandemic Crisis

BREAKING NEWS: Home Buying Process During The Coronavirus Pandemic Crisis As Americans received some puzzling news from the White House coronavirus task force briefing yesterday on March 31, 2020, we all must prepare for things to get worse before they get better. By the graphs and model charts presented, we are in for a dark two weeks (maybe longer) Let’s hope that the two-week period does not get extended Americans must brace themselves to see our death toll continue to rise before we are able to flatten…

Fed To Stabilize Mortgage Market Due To Coronavirus Pandemic

BREAKING NEWS: The Fed To Stabilize Mortgage Market Due To Coronavirus Pandemic Most mortgage lenders are going through a tough time due to the coronavirus pandemic crisis. The coronavirus pandemic has caused a shut down in the US economy The Dow Jones Industrial Average has tanked over 20% in a matter of a few weeks, sending the equity markets in bear market territory Never in history has the stock markets been so volatile Many governors have issued a stay at home order Restaurants and bars are…

Lenders Increasing Credit Score Guidelines Due To Coronavirus Pandemic

BREAKING NEWS: Lenders Increasing Credit Score Guidelines Due To Coronavirus Pandemic The coronavirus pandemic shook the US economy. Not only has the stock markets plummeted, but the pandemic also created chaos in the mortgage markets Many mortgage lenders raised their minimum credit score requirements to 640 to 680 FICO Besides raising credit score requirements, many lenders with no overlays imposed lender overlays on debt to income ratio caps The 2 trillion coronavirus stimulus package devastated…

The Economic And Housing Impact Of The Coronavirus Pandemic

BREAKING NEWS: The Economic And Housing Impact Of The Coronavirus Pandemic It is important to understand where the housing market is today and where the housing market may go in the near future. The COVID-19 coronavirus outbreak has put a ripple in nearly every industry across the world The United States housing market is no exception In this blog, we will detail my thoughts and opinions on the COVID-19 outbreak and how it will affect mortgage lending In this article, we will discuss and cover The…

Forbearance Versus Loan Modification During Coronavirus Pandemic

BREAKING NEWS: Forbearance Versus Loan Modification During Coronavirus Pandemic Forbearance Versus Loan Modification: President Trump signed the $2 trillion stimulus package last Friday, March 27th, 2020 to avoid further damage to the US economy from the nasty contagious deadly coronavirus pandemic. Included in the $2 trillion coronavirus package is a relief for unemployed homeowners where they can instantly get a forbearance Homeowners who are laid-off, fired, and/or unemployed for one reason or another due…
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