It is not the easiest time to be in the mortgage business. Mortgage investors and servicers continue to deal with the fallout from the COVID-19 pandemic and its effects on borrowers.
It is not the easiest time to be in the mortgage business. Mortgage investors and servicers continue to deal with the fallout from the COVID-19 pandemic and its effects on borrowers. Rising interest rates could drain the plentiful supply of refinance business from prior years and deter hopeful homeb.
New York lawmakers have put legislation before Gov. Kathy Hochul that the mortgage industry fears could make it significantly harder to foreclose in the state, delivering what borrower-side advocates are calling a much-needed corrective, and what industry-side attorneys say are deeply misguided changes.
The legislation, awaiting the governor’s signature, overturns a state court ruling that made it easier for lenders to restart the six-year statute of limitations timeline.