The Bakersfield, Calif., home market was on track to finally retake the peak it achieved during the housing bubble.

The bureau said it began developing the standards before the coronavirus pandemic. But more transfers may occur as some servicers struggle to meet their obligations during the economic downturn.

More details have emerged about the damage the coronavirus pandemic is inflicting on the hospitality industry. One servicer alone has received 2,000 workout requests in the past month.

FHFA Director Mark Calabria stated that he was directing the GSEs to "add liquidity" to the markets, but the actions of the FHFA say precisely the opposite.

Correspondent loan sellers are hoping the new GSE purchases will help to open a market frozen by coronavirus-related risk — but the prices offered so far aren't too promising.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.

The coronavirus outbreak has shuttered business and kept people hunkered down in their homes. Perhaps unsurprisingly, it's also resulted in a market that experts describe as essentially frozen in place.

The Federal Housing Administration has provided struggling homeowners with payment flexibility and explored other measures. At the same time, the agency is mindful of protecting itself against downside risks.

Due to COVID-19's economic impact, the number of mortgaged properties in default or foreclosure rose in March for the first time since the turn of the century, according to Black Knight.

In the days before COVID-19 entered American consciousness, home prices in San Diego climbed near record territory.