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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 80 June 2025 F I N A L T H O U G H T S "putting the pieces back together" Scott Turner, Secretary of the U.S. Department of Housing and Urban Development (HUD), announced that HUD is extending foreclosure relief to hurricane victims to assist with recovery following back-to-back hurricanes this past fall. "summer surge in bankruptcy" Matt Layton, LegalShield SVP of Consumer Analytics, discussed how the potential of a summer spike in bankruptcy filings becomes quite real when Americans combine record debt, mounting delinquencies, and ongoing financial stress with price pressures brought on by tariff uncertainties. "more ways to qualify buyers" Rob Chrane, Founder and CEO of Down Payment Resource (DPR), explained how manufactured and multifamily dwellings are becoming included in more programs, creating additional avenues for affordability and reliable revenue, and, in such a challenging market, giving lenders additional options for qualifying buyers and completing loan closings. "stronger than last year" Joel Kan, MBA's VP and Deputy Chief Economist, talked about how, over the course of the month, homebuyer interest was bolstered by the expanding supply of recently constructed, move-in-ready homes, which caused the index to surpass its levels from the previous year. Despite a minor drop in March, the estimate of seasonally adjusted new home sales was still higher than the pace of sales the previous year. "odds of a recession are higher" Redfin Economics Lead Chen Zhao described how consumers are tightening their belts due to their legitimate concerns about job security and the possibility of having to pay more for daily costs. However, there are a few possible bright spots for homebuyers: the decline in demand may result in stable or even declining home prices, and there's a chance that mortgage rates will reduce over the next months.