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New American Funding Win Twice in NerdWallet's 2019 Best-Of Awards In NerdWallet’s annual Best-Of Awards program, which highlights the top financial companies and products nationwide, the personal finance website has named New American Funding as a 2019 two-time winner. The mortgage-industry leader has scored one of the awards in the category of Best Mortgage Lender for Purchase Loans and Best Mortgage Lender for FHA Loans. Read More
5 Good Reasons to Buy a Home Now Determining when to buy a home is a personal decision with many variables. Some may try to pinpoint the "perfect time" and end up waiting themselves out of the market, while prices and interest rates rise. Read More

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MBS RECAP: That Escalated Quickly, But MBS Recovered Fairly Nicely

Posted To: MBS Commentary

That Escalated Quickly, But MBS Recovered Fairly Nicely After weeks and weeks (6, to be specific) of extraordinarily calm and narrow trading ranges in ultra-low-yield territory, the bond market has suddenly decided it's time to jump back up toward higher yields. The move is fairly large, abrupt, and serious. It was made all the more serious by the most terribly botched NFP forecast in history. So are the good times over? Econ Data / Events 11:30-11:50 AM (ET) - Fed 30yr UMBS Buying Nonfarm Payrolls: +2.509m vs -8.000m forecast (biggest beat ever, by a wide margin) Unemployment Rate: 13.3% vs 19.8% forecast, 14.7% previously Market Movement Recap 08:16 AM More pain overnight as the broad recovery mentality barrels ahead at full throttle. Stocks surged. Bonds utterly capitaluated (there was...(read more)

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CFPB Warns Servicers and Lenders to Adhere to CARES Act

Posted To: MND NewsWire

A joint release from the Consumer Financial Protection Bureau (CFPB) and the Conference of State Bank Supervisors cautions mortgage servicers about their obligations in complying with the Coronavirus Aid, Relief and Economic Security (CARES) Act. The Act includes provisions granting a right to forbearance to mortgaged homeowners impacted by the COVID-19 pandemic. Under these provisions, servicers of federally-backed mortgages including those from the GSEs Fannie Mae and Freddie Mac as well as FHA, the VA, and USDA must grant forbearance to borrowers with pandemic-related hardships for as long as two consecutive 180-day periods during the National Emergency declared in response to the outbreak. Servicers are advised by CFPB and the Supervisors that they can approve a shorter than 180-day plan...(read more)

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