Mortgage Insider


Forbearance Update

06/02/2020

  • Forbearance Update - Lending standards remain tight as Forbearance numbers continue to rise. The pace of forbearance requests may appear to be slowing, however there are now more than 4.7 million homeowners in forbearance. This translates to over $1 trillion in unpaid principle payments. Servicers of mortgage loans in government-backed securities must continue to make advance principal and interest payments as well as property taxes & home owners insurance payments each month on behalf of the borrower. Based on today’s number of homeowners in forbearance, mortgage servicers of these loans need to advance approximately $3.6 billion in combined payments per month on behalf of these borrowers (which is the primary reason why we continue to see tighter lending standards).

Rate Flash

  • Rate Flash – Keller mortgage remains committed to offering aggressively low interest rates to maximize savings while also maintaining ALL ZeroPlus loan program advantages. There are many factors that go into determining available rates. Although not every client will qualify for the same rate, KM’s average fixed rate for the week of 5/25/20 through 5/31/20 held below 3.375%.

*Information intended for internal KM/KW use only.


Forbearance Update

05/14/2020

  • Forbearance Update - There is a hidden cost to be aware of! Even though loans are reported to the credit bureaus as current, the credit report still indicates that the loan is in forbearance. Creditors and Lenders may not extend credit or allow for a refinance because of this. Make sure you need forbearance before entering an agreement due to this unexpected consequence.

Rate Flash

  • Rate Flash – Lending standards continue to tighten, however Keller mortgage remains committed to offering super low interest rates while maintaining ALL ZeroPlus savings/advantages. There are many factors that go into determining available rates. Although not every client will qualify for the same rate, KM’s average fixed rate for the week of 5/4/20 through 5/10/20 held below 3.375%.

*Information intended for internal KM/KW use only.


KM Drops Jumbo Rates

05/06/2020


Forbearance and Rates

5/04/2020


The latest, Mortgage Lending and Real Estate industry update:

4/21/2020

Forbearance. CARES Act. The SHIFT.


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