The June 28th 2020, Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey reports that the total number of loans now in forbearance decreased by 8- basis points from 8.47% of servicers’ portfolio volume in the prior week to 8.39% as of June 28, 2020.
Wood Markets News
The Federal Reserve Bank of Atlanta Warns of Mortgage Forbearance Turning into Mortgage Foreclosures as COVID-19 Cases Spike
The Atlanta Fed believes COVID-19 spike in key states could lead to higher foreclosure rates.
Americans Who Qualify for Refinancing of First Mortgage Could Save Hundreds of Dollars Monthly
A data and analytics provider for mortgage industry estimates that 90% of homeowners could lower monthly payments with current mortgage rates.
New Zealand Forest Owners Association Lauds New ‘Building for Climate Change’ Policy
The Forest Owners Association (FOA) of New Zealand was overjoyed with the announcement from the Ministry of Business, Innovation and Employment (MBIE) of ‘Buildings for Climate Change.’
American Wood Council Congratulates State of Georgia for Passing Tall Mass Timber Legislation
Robert Glowinski, President and CEO of the American Wood Council (AWC), which is the voice of North American wood products manufacturing, issued a statement following Georgia’s Gov. Brian Kemp’s signing of HB 777, which directs the state Department of Community Affairs (DCA) and its State Codes Advisory Committee to look at and evaluate the International Code Council’s (ICC) 2021 tall mass timber building code changes for early adoption.
Norbord Reviews and Updates Their COVID-19 Response
Norbord has recently provided a review and an update on their response to the COVID-19 pandemic.
U.S. Department of Commerce Announces Immediate Lifting of Tariffs on Canadian WRC Shake & Shingle
US Tariffs on Canadian Western Red Cedar imports removed.
Roseburg Forest Products Facility in Missoula Montana Suffers Early Sunday Morning Fire
Fire reported at Roseburg’s Missoula, Montana particleboard mill.
Koskisen to Invest 35 – 40 Million €s in Sawmill in Järvelä, Finland
Koskisen, a Finnish wood industry company, has announced it is planning to make a substantial investment in a sawmill in Järvelä, Finland.
Canadian Consumer Confidence Up for 10-Weeks in a Row
Consumer confidence increased in Canada for the 10th straight week according to Bloomberg Nanos Canadian Confidence Index.