Mortgage Professional America, Sept. 2, 2020–Ryan SmithIn a Monday letter to the Office of Special Counsel (OSC), Brown and Warren – along with senators Jon Tester (D-Mont.), Robert Menendez (D-N.J.), …
Category: Top National News
Judge Upholds Connecticut’s Revocation of 1st Alliance’s License
National Mortgage News, Sept. 2, 2020–Bonnie Sinnock (subscription)The decision is the latest development in an ongoing dispute between the shuttered company and its regulator.https://www.nationalmortgagenews.com/news/judge-upholds-connecticuts-revocation-of-1st-alliances-license
Macy’s Posts $431 Million Loss as Stores Continue Recovery
Wall Street Journal, Sept. 2, 2020–Charity L. Scott (subscription)Macy’s reported a loss of $431 million for the latest quarter, even as sales continued to recover from temporary store closures spurred …
Mortgage Production Profits Reach Record Highs
National Mortgage Professional, Sept. 2, 2020–Keith GriffinPandemics aside, it’s a good time to be a loan originator. Net gains per loans reach their highest levels since the Mortgage Bankers Association …
COVID Impacting U.S. Commercial, Multifamily Mortgage Delinquencies in Varied Ways
World Property Journal, Sept. 2, 2020–Michael GerrityAccording to 2 new reports released by the Mortgage Bankers Association, delinquency rates of mortgages backed by commercial and multifamily properties reveal the various …
‘Extraordinary’ Move by CDC to Stop Evictions Draws Heavy Criticism from Housing Industry and Tenant Advocates
CNBC, Sept. 2, 2020–Diana Olick“If tenants are unable to pay their rent, then millions of our nation’s housing providers – many of whom are individual landlords and small business owners …
Mortgage Demand From Homebuyers is Now 28% Higher than Last Year
CNBC, Sept. 2, 2020–Diana OlickHomebuyers are rushing for mortgages, but fewer homeowners are refinancing even though rates are heading toward record lows. Total mortgage application volume fell 2% last week …
RealPage Acquires Smart Apartment Startup Stratis IoT
HousingWire, Sept. 1, 2020–Julia FalconProptech company RealPage has entered the smart building space. The company paid an undisclosed amount to acquire STratis IoT, a property management tech firm based in …
Why Have Banks Stepped Back From Mortgage Servicing?
International Banker, Sept. 2, 2020–Mike FratantoniMBA Chief Economist says U.S. laws and regulations implemented over the past decade have increased the cost and risk of mortgage lending and servicing, causing …
What Will The Pandemic’s Impact Be On The Real Estate Market?
Forbes, Sept. 1, 2020–Kenneth RapozaMany real estate investors — particularly those in commercial REITS — are grappling with questions around which changes are cyclical, which changes are structural, and what …