Chattanooga Times Free Press: Tennessee launches program to help COVID-related mortgage delinquencies

Chattanooga Times Free Press: Tennessee launches program to help COVID-related mortgage delinquencies. “Tennessee homeowners who have fallen behind on their mortgages, property taxes or home insurance due to the COVID-19 pandemic are getting a new economic lifeline this week. The Tennessee Housing Development Agency is launching a new federally-funded program Monday that will pay up to $40,000 for each household that has suffered from the ongoing pandemic and is delinquent in housing-related bills.”

The Markup: The Secret Bias Hidden in Mortgage-Approval Algorithms

The Markup: The Secret Bias Hidden in Mortgage-Approval Algorithms. “An investigation by The Markup has found that lenders in 2019 were more likely to deny home loans to people of color than to White people with similar financial characteristics—even when we controlled for newly available financial factors that the mortgage industry for years has said would explain racial disparities in lending.”

CBS 46: Latest data estimates 19.5% of homes in several metro Atlanta cities are in a mortgage forbearance program

CBS 46: Latest data estimates 19.5% of homes in several metro Atlanta cities are in a mortgage forbearance program. “The Federal Reserve Bank of Atlanta has released a new tool that will help local agencies determine which areas have had the most financial impact from COVID-19. The new website provides maps and graphs of mortgage forbearance and delinquency rates across the country.”

Google Blog: Find helpful information on the mortgage process in Search

Google Blog: Find helpful information on the mortgage process in Search. “Buying a house is a big financial decision and having clear, trustworthy information is important. To help people better understand the mortgage process, we collaborated with the Consumer Financial Protection Bureau (CFPB) to create a new mobile experience in Search. When you search for ‘mortgage’ on your phone, you’ll find a feature that breaks down the complex mortgage process into easy-to-follow steps to help guide you, wherever you may be in the process. It also connects you to a set of useful resources, including news articles, industry definitions and terms, a calculator to assist with payment plans and average mortgage rates. And for those looking for relief and refinance information, we’ll show some of the options available to you.”

Consumer Financial Protection Bureau: CFPB, FHFA, & HUD Launch Joint Mortgage and Housing Assistance Website for Americans Impacted by COVID-19

Consumer Financial Protection Bureau: CFPB, FHFA, & HUD Launch Joint Mortgage and Housing Assistance Website for Americans Impacted by COVID-19. “CFPB, FHFA and HUD are offering extensive CARES Act assistance and protection for Americans having trouble paying their mortgage or rent during the COVID-19 national health emergency. This joint website consolidates the CARES Act mortgage relief, protections for renters, resources for additional help, and information on how to avoid COVID-19 related scams. It also provides lookup tools for homeowners to determine if their mortgage is federally backed, and for renters to find out if their rental unit is financed by FHA, Fannie Mae, or Freddie Mac.”

Consumer Financial Protection Bureau: Guide to coronavirus mortgage relief options

Consumer Financial Protection Bureau: Guide to coronavirus mortgage relief options. “If you’re among those financially impacted by the coronavirus pandemic, you might be concerned about how to pay your mortgage or rent. Federal and state governments, as well as financial institutions and loan servicers, have announced plans to help struggling homeowners during this time. Keep reading to get information on what to do now, and what your options are for mortgage, rental relief, and utility disconnections.”

Phys .org: A COVID-19 crisis looms in the mortgage industry, experts warn

Phys .org: A COVID-19 crisis looms in the mortgage industry, experts warn. “More than two years ago, [Nancy] Wallace and [Richard] Stanton again began raising the alarm that the mortgage landscape that emerged from the last crisis is dominated by ‘nonbank’ lenders who operate with little of their own capital or access to emergency cash. It was another disaster waiting to happen, they warned, and called for increased oversight. No one predicted a shock the size and speed of the coronavirus pandemic, but it’s now upon us, and Wallace fears the worst.”

Consumer Financial Protection Bureau: CFPB Launches New Mortgage Performance Trends Tool for Tracking Delinquency Rates

Consumer Financial Protection Bureau: CFPB Launches New Mortgage Performance Trends Tool for Tracking Delinquency Rates. “The Consumer Financial Protection Bureau (CFPB) today announced the launch of a new Mortgage Performance Trends tool that tracks delinquency rates nationwide. Information newly available through this tool shows that mortgage delinquency rates nationally are at their lowest point since the financial crisis. In addition to national data, the online tool features interactive charts and graphs with data on mortgage delinquency rates for 50 states and the District of Columbia at the county and metro-area level.”

CNW: Online Database Protects Canadians Getting Mortgages

CNW: Online Database Protects Canadians Getting Mortgages (PRESS RELEASE). “A new online database helps consumers find out if mortgage brokers have broken the rules that govern their profession. Consumers can enter a mortgage broker’s name or company into the search-friendly database and see disciplinary actions (e.g., licence suspensions, administrative penalties, cease and desist orders) that have been taken against a broker by their provincial mortgage regulator and other Canadian regulators. The database, developed by the Mortgage Broker Regulators’ Council of Canada (MBRCC), integrates disciplinary records from most provincial regulators into a single, convenient place”

Google Compare Giving Mortgage Quotes

Google Compare is now giving quotes for mortgage rates. (I was wondering about all those press releases I saw: “So and So teams up with Google Compare!”) “Google Compare web service now offers quotes for home mortgage rates in California, free of charge. The launch turns Google into an official mortgage loan broker, giving consumers a way to connect with companies that can provide home mortgages.”