COVID-19 Coronavirus News


Real Estate Agents Urged to Apply for PPP Loans Before March 31 Deadline

  Industry Firms Collaborate to Help Expedite Application Process for Independent Contractors  Three industry firms are collaborating to help streamline the process for agents to apply for Paycheck Protection Program (PPP) loans in the coming weeks, urging independent contractors to apply immediately before the March 31 deadline, or before funding for the program could potentially run out. Continue Reading


Racial disparities in homeownership rates contribute to wealth gap and impacts of COVID-19

After Congress had rejected two earlier versions of the Civil Rights Act of 1968, commonly known as the Fair Housing Act, the third version appeared to be going nowhere prior to the April 4th 1968 assassination of Martin Luther King, Jr. It was that crystalizing moment and the resulting civil unrest that spread across the Continue Reading


Credit Reporting in the U.S. During the COVID-19 Pandemic

FICO has been working closely with lenders and partners to provide awareness of reporting options. We at FICO recognize the significant challenges faced by both borrowers and lenders in these extraordinary times. We’ve been working closely with lenders as well as our Credit Reporting Agency (CRA) partners throughout the COVID-19 pandemic to provide awareness of Continue Reading


Minorities and mortgages: Black leaders’ thoughts on closing the racial divide

Dispiriting. Disgusting. Disorienting. However one chooses to frame the events sparked by George Floyd’s killing at the hands of the Minneapolis police on May 25, the underlying cause is clear: America’s racial divide, a ragged, gaping, self-inflicted wound that has been allowed to fester for centuries, has poisoned the country. At a time when medical Continue Reading


Open House Precautions to Take During the COVID-19 Outbreak

The coronavirus outbreak naturally has many real estate agents on edge. For most agents, face-to-face interaction — often with customers from out of town or even out of the country — are a regular part of day-to-day business. It also poses a conundrum when considering one of the industry’s most long-held real estate marketing practices: Continue Reading


How the housing finance industry can help the black community: NAREB

The housing and mortgage industries can and should respond to George Floyd’s death, the disproportionate impact of the coronavirus and other issues the black community faces, according to the National Association of Real Estate Brokers. “While we are grieved at the passing of yet another black man, George Floyd, at the hands of a few Continue Reading


Why lenders are wary of FHA’s terms for buying loans with forbearance

Lenders are concerned about a risk requirement imposed by a recent Federal Housing Administration measure aimed at opening up homeownership opportunities that might otherwise be threatened by coronavirus-related developments. The FHA is temporarily willing to insure mortgages that go into forbearance due to COVID-19 hardships. But in exchange, lenders must agree to be on the hook for Continue Reading


Virus, protests reflect white-black economic gap in US

Washington — The United States has been here before, staring into the deep chasm that divides white and black Americans. It happened after cities burned in 1967, after Los Angeles erupted with the 1992 acquittal of police officers who beat Rodney King, after the 2014 police killing of Michael Brown in Ferguson, Missouri. After those upheavals Continue Reading


In Letter to Congress: Black Wealth 2020 Sends Plea for Unity in Pandemic Relief

( – As the U. S. House of Representatives awaits the political fate of another multi-trillion dollar coronavirus relief bill, called the “Heroes Act”, Black Wealth 2020 (BW2020), a national catalyst for economic justice for African-Americans, is pressing Congressional leaders to unify for equity for the millions of pandemic victims who have yet to receive Continue Reading


Under Cover of COVID, Regulator Rolls Back Community Reinvestment Act Rules

As NPQ has noted, the federal government has regularly used the pandemic as cover to surreptitiously implement unpopular policy changes. In March, this meant rolling back mileage rules for cars. This month, it means rolling back rules that promote bank investment in low and moderate-income communities, and especially communities of color, even if the rhetoric of modernization is employed Continue Reading


SBA Releases PPP Forgiveness Application and Makes Critical Clarifications and Documentation Requirements

There is now improved guidance on calculation methods, definitions of forgivable expenses and the documents that must be submitted with the forgiveness request. The SBA released its Paycheck Protection Program (PPP) Loan Forgiveness Application and clarified a few critical definitions and documentation requirements in their instructions. The forgiveness application is completed by the small-business borrower and is Continue Reading


New pandemic rules make it easier to navigate mortgage closings

For the past five years Pat Kinsel, CEO of Notarize, chiseled away at getting his remote online notarization (RON) technology used in the housing industry to make the mortgage process faster and easier. He made sure it met industry standards, including the ability to sell mortgages on the secondary market using RON. What took Kinsel years Continue Reading


Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy. Coronavirus Funding Options Click here to learn more about available SBA loan and debt relief options. Our nation’s small businesses are Continue Reading


Hud allocates third wave of cares act funding providing $1 billion for communities to bolster coronavirus response and relief efforts

Third wave of relief funding targeted for states and insular areas. WASHINGTON – The U.S. Department of Housing and Urban Development Secretary Ben Carson today announced the allocation of a third wave in CARES Act coronavirus relief funding. This wave totaling $1 billion is through the Community Development Block Grant (CDBG) program. To date, HUD has provided Continue Reading


Protecting Your Credit during the Coronavirus Outbreak

Stay informed as you manage your credit health through the Coronavirus outbreak. As the number of coronavirus cases spreads, it is also having negative impact on the financial health of the economy at large and the economic well-being of individuals across the United States.  The unusual nature of this pandemic has resulted in the temporary Continue Reading


HUD, FHFA, CFPB Join Forces to Assist Homeowners

The Consumer Financial Protection Bureau (CFPB), the Federal Housing Finance Agency (FHFA), and the Department of Housing and Urban Development (HUD) launched a new mortgage and housing assistance website. The website was developed to ensure homeowners and renters have the most up-to-date housing assistance information during COVID-19. The agencies are offering extensive CARES Act assistance and Continue Reading


Fwd: Sustaining Homeownership in a Crisis: An Interactive Guide for Homeowners

As a housing professional you’re aware the COVID-19 pandemic has brought an overwhelming amount of anxiety, and homeowners are being impacted in different ways. There have been several mortgage relief programs implemented to help homeowners experiencing financial hardship. With the abundance of information being shared daily it can be challenging for homeowners to understand their Continue Reading


If You Want Your Stimulus Check Deposited In Your Bank You Have To Act Now

If you haven’t received your $1,200 coronavirus stimulus check from the federal government, you have until noon eastern time on Wednesday (May 13) to submit your bank account information to the IRS if you want the funds deposited into your bank account. If you still need to submit your account information to the IRS, you can Continue Reading


Tips, Tools & Resources

CDC: What you need to know about COVID-19 FTC: Seven Scams Targeting Your Business PC Magazine: 20 Tips for Working From Home Intuit | QuickBooks Blog: 5 Ways to Keep Coronavirus from Stopping Work at your Small Business Deloitte: Managing Cash Flow In a Period of Crisis ZDNet: 7 Crisis Management Tips for Small Businesses Continue Reading


Housing and civil rights coalition demands federal liquidity facility for servicers

Former MBA chief David Stevens joined the coalition in its letter to federal regulators. A coalition of housing advocacy groups, national and regional civil rights organizations and minority-focused real estate trade associations, joined by former Mortgage Bankers Association chief executive David Stevens, urged the federal government to create one or more liquidity facilities so that mortgage servicers Continue Reading