New York Times, Aug. 13, 2020–Michael KolomatskyThe real estate market in New York City and its suburbs has seen huge changes during the pandemic. The near-total shutdown of the industry …
Category: Top National News
Miami and New York Top the U.S. in Mortgage Delinquencies as Rates Rise in All 50 states
Business Insider, Aug. 13, 2020–Barbara SmithMiami leads the US in mortgage delinquencies for the top 10 metropolitan areas, with roughly 14% of mortgage payers in the city behind 30 days …
Mortgage Rates Keep Falling — So Will They Finally Drop to 0%?
MarketWatch, Aug. 13, 2020–Jacob PassyMortgage rates have dropped to record lows on eight separate occasions in 2020 so far as the coronavirus pandemic has roiled the global economy. But could …
U.S. Consumer Prices Push Higher; High Unemployment Likely to Keep Lid on Inflation
Reuters, Aug. 12, 2020–Lucia MutikaniU.S. consumer prices rose more than expected in July, with a measure of underlying inflation increasing by the most in 29-1/2 years amid broad gains in …
Non-QM is Back–Now to Make it Painless
Mortgage Professional America, Aug. 12, 2020–Ryan SmithAfter an almost universal freeze at the outset of the COVID-19 pandemic, non-QM lenders are returning to the space at an almost weekly rate. …
Blend Reaches Unicorn Status with $75 Million Series F Raise
HousingWire, Aug. 12, 2020–Mary Ann AzevedoFintech-focused Canapi Ventures led the investment, which brings Blend’s total venture raised to $365 million since its 2012 inception. The company nearly reached unicorn status …
U.S. Deficit Totaled $2.8 Trillion From October Through July, Treasury Says
Wall Street Journal, Aug. 12, 2020–Kate Davidson (subscription)The federal deficit more than tripled in the first 10 months of the fiscal year, as government spending to combat the coronavirus continued …
Mortgage Bond Market Plagued by Valuation Doubts
Bloomberg, Aug. 12, 2020–Christopher MaloneyMortgage-backed securities analysts at Morgan Stanley and Bank of America Corp. have recently warned that valuation models are less reliable with the precipitous drop in mortgage …
MBA Requests Six-Month Extension of CFPB’s QM Patch
National Mortgage News, Aug. 12, 2020–Paul Centopani (subscription)The Mortgage Bankers Association wants to add six more months to the Consumer Financial Protection Bureau’s latest GSE patch proposal. In a letter …
It’s Open Season for Cyber Crime
Scotsman Guide, Aug. 12, 2020–Jeffrey BernsteinMaybe no one has taken more advantage of the opportunities presented by a crisis than domestic and international computer hackers. Commercial mortgage finance companies need …