Understanding Appraisal Flexibilities During COVID-19 | OwnerInsight | Webinar.
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How Fed Chairman Powell
rescued the mortgage market
On a Sunday night call with journalists in
mid-March, four days after the World Health Organization had
labelled COVID-19 an “alarming” global pandemic, Fed Chairman
Jerome Powell laid out his plans to rescue the U.S. economy. HW+ Premium Content
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Lenders forego the office to transact closings
Due to social distancing caused by the coronavirus,
lenders are forced to find different ways to get their borrowers to
sign necessary closing paperwork. Still, there are lenders who
continue to conduct closings in the office, albeit with multiple
new precautions.
HW+ Premium Content
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Nearly 10% of FHA and VA borrowers are in
forbearance
Thanks to the continued impact of the spread of
COVID-19 on the economy, approximately 10% of borrowers whose mortgages
are backed by the Federal Housing Administration or the Department
of Veterans Affairs are in forbearance.
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Understanding
Appraisal Flexibilities During COVID-19
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Policy changes have been put in place by the FHFA, Fannie
Mae, Freddie Mac, and other entities to allow lending to continue
safely during COVID-19. Learn what is now allowed for appraisals, and
what tools are available to gain additional information on the interior
of a home. LEARN MORE
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Sponsor Content
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Pelosi maneuvers McConnell into a corner
House Speaker Nancy Pelosi (D-CA) made the rounds of
the Sunday talk shows saying there will be another package heading
to the Senate on par with the $2.2 trillion CARES Act that passed
in late March. That rescue bill provided beefed-up unemployment
benefits aimed at keeping Americans current on bills like monthly
mortgage payments.
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