CoAMP News

  • 04 Jun 2020 4:51 PM | Jennifer Crowell (Administrator)

    CoAMP is working to provide you helpful, informative, virtual events. 


    Be sure to stay posted on what's coming next. 

    Check our CoAMP Events page for current offerings including


    Discussion about changes in procedures for the

    Real Estate & Mortgage Industry Related to COVID19

    June 17 @ Noon


    and a presentation from Peggy Pingel in August.


    We hope to see you there!

  • 01 Jun 2020 10:02 AM | Jennifer Crowell (Administrator)

    Mortgage Rates Stage Nice Comeback, But Uncertainty Remains

    May 29 2020, 5:50PM

    Mortgage rates staged a nice little comeback today, moving back toward the all-time lows seen late last week.  Mortgage rates are determined primarily by the bond market, and the bond market benefited from strong demand at the end of the month.  Higher demand means higher prices, and higher bond prices equate to lower rates. 


    CLICK HERE to read more from Mortgage News Daily

  • 27 May 2020 9:50 AM | Jennifer Crowell (Administrator)

    Applications for mortgages to purchase homes gained for the sixth consecutive week to a level that was 6.7% higher than a year ago, back when a deadly pandemic wasn’t interrupting the spring home-buying season.

    A seasonally adjusted index measuring purchase applications jumped 9% last week, according to a report from the Mortgage Bankers Association. Applications for refinancings fell 0.2% from the prior week, though the level was 176% higher than a year ago, MBA said.

    Last week’s so-called purchase apps were up 54% from early April when most U.S. states were under lockdown orders to keep people at home in an effort to stem the spread of COVID-19, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

    Click here for more from Housing Wire.


  • 26 May 2020 7:51 AM | Jennifer Crowell (Administrator)

    Broker, eSign, Marketing Products; USDA, FHA, Freddie, Fannie News and Trends

    May 26 2020, 8:10AM

    I doubt if I have ever pressed “7” or “8” on my microwave oven keypad. Speaking of 7 & 8 (I know, a weak segue), originators are keenly aware of what builders are seeing, economy-wise, and 78 percent of them did not lower their prices in April. Not only that, but 41% of home sales had bidding wars, according to Redfin. “Demand for homes has picked back up after hitting rock bottom in April, and that uptick paired with a lack of supply is a recipe for bidding wars. Homebuyers are getting back out there, searching for more space as they realize using their home as an office and school may become the norm. But sellers are still holding off on listing their homes, partially due to economic uncertainty and concerns of health risks. In some hot neighborhoods, there may only be one or two homes for sale, with multiple homebuyers vying for them.” Heading into the pandemic low inventories and forbearance limited supply, while favorable Millennial demographics and low interest rates boost demand. And job losses from Covid-19 have hit lower-income workers harde

    Click here to read more from Mortgage Daily News
  • 22 May 2020 6:21 AM | Jennifer Crowell (Administrator)

    Has the mortgage forbearance curve flattened?


    Overall forbearance rate still rising, but at slowest pace since crisis began


    It’s been nearly two months since the number of borrowers who need forbearance on their mortgage began spiking due to coronavirus shutdowns, but it looks like the forbearance curve may be flattening.


    New data from the Mortgage Bankers Association shows that the overall rate of forbearance is still on the rise, but the rate at which that figure is increasing has slowed to the lowest level since the crisis began.


    Click Here to read more from Hotwire


  • 21 May 2020 7:55 AM | Jennifer Crowell (Administrator)

    Register Now for "Freddie Mac and the New COVID-19 Payment Deferral Relief Option"

    FREE Webinar

    Monday, June 1, 2020 

    2pm ET

    REGISTER HERE

    Join NAMB and Freddie Mac on Monday, June 1, 2020 for a FREE webinar, "Freddie Mac and the New COVID-19 Payment Deferral Relief Option".

    Don’t miss this opportunity to gain an understanding of the basic relief options that Freddie Mac is offering to homeowners as the mortgage servicing industry navigates the COVID-19 pandemic.

    This 90 minute training session provides you with:

    • The opportunity to gain a basic understanding of the Forbearance relief option being offered by servicers to borrowers affected by COVID-19.
    • A review of the new COVID-19 Payment Deferral relief option announced May 13th.
    • A discussion of the basic differences between the options so that you can have meaningful discussions with your clients.
    • Q&A with the instructors


  • 19 May 2020 11:16 AM | Jennifer Crowell (Administrator)

    Today, FHFA announced the refinance and home purchase eligibility for borrowers in forbearance.

    In order to support borrowers and mortgage servicers, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises)  have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.

    Borrowers are eligible to refinance or buy a new home if they are current on their mortgage (i.e. in forbearance but continued to make their mortgage payments or reinstated their mortgage). Borrowers are eligible to refinance or buy a new home three months after their forbearance ends and they have made three consecutive payments under their repayment plan, or payment deferral option or loan modification. 


    Click Here for more information

  • 13 May 2020 8:31 AM | Jennifer Crowell (Administrator)

    The Federal Housing Administration (FHA), the Department of Agriculture (USDA), and the Department of Veteran Affairs (VA) have aligned to provide servicers with information that outlines their responses to forbearance and loss mitigation options available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.


    Click Here to view the fact sheet

  • 26 Nov 2019 11:41 AM | Kay Cleland (Administrator)

     

    CALL COAMP TODAY and get involved in your industry


    Committees available and we need you!

    Membership

    Education

    Government Affairs

    Events

    Public Relations


    Contact information for the Committee Chairs is on www.coamp.org 


    To become a member go to www.coamp.org and click on Membership Tab and Click on Join

  • 04 Jan 2019 10:15 AM | Kay Cleland (Administrator)

    COAMP is having our first Board of Directors Meeting today.  We welcome our new Board Members:  Dawn McDonald and Julia Cebatah. 

     

    Start the year off right COAMP members and join a committee.  We need you. Get involved.   

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