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Lender | Capprice Kitchen with Pineywoods Realty Blog

Friday, July 23, 2021   /   by Capprice Kitchen

Changes in the Mortgage Market Since COVID-19

It's been challenging to adjust to a new normal during the COVID-19 epidemic. With residents being asked to continue to stay at home, there are many who have lost their jobs or been asked to work remotely. The mortgage industry has also taken a big hit that has directly affected homeowners, renters, and investors alike.

There are many who are in the final stages of closing on their homes, and for some, the  pandemic has made it difficult to efficiently move forward with the process. To help, desktop and exterior- only appraisals are being accepted as long as there is sufficient property information available online - this is not typically the most ideal method of a property appraisal. Potential borrowers can also submit their verification of employment via email, paystub, or bank statement to help streamline the process.

Significant changes have been made during COVID-19 to help homeowners get through "the new normal".  tThose who have lost their jobs may be eligib ...

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