CNBC, Aug. 12, 2020–Diana OlickTwo straight weeks of new record low mortgage rates brought consumers back to their lenders, but rates may now be reversing course. Mortgage application volume rose …
Category: Top National News
Covering the Housing Market at a Tipping Point
New York Times, Aug. 12, 2020As experts fear a nationwide eviction crisis, a Times business reporter discusses the industry’s long-term problems and a nightmare in the making.https://www.nytimes.com/2020/08/12/insider/housing-evictions.html
‘It Was Like the Twilight Zone’: Few Return to Empty Manhattan Offices
The Wall Street Journal, Aug. 11, 2020–Anne KadetIt has been more than a month since nonessential workers were allowed back to the office in New York City, but so far …
U.S. Producer Prices Rebound in July; Trend Remains Week Amid Fragile Demand
Reuters, Aug. 11, 2020–Lucia MutikaniU.S. producer prices increased by the most in more than 1-1/2 years in July, but the overall trend in producer inflation remained subdued amid signs the …
Small Businesses Are Dying by the Thousands — And No One Is Tracking the Carnage
Bloomberg, Aug. 11, 2020–Madeleine NgoBig companies are going bankrupt at a record pace, but that’s only part of the carnage. By some accounts, small businesses are disappearing by the thousands …
Fed’s Barkin Warns Economy Faces ‘Sinkhole’ Requiring More Aid
Bloomberg, Aug. 11, 2020–Steve MatthewsThe U.S. economy has lost momentum in recent weeks because of a resurgence of the coronavirus and that may call for more sustained fiscal support to …
Commercial Properties’ Ability to Repay Mortgages Was Overstated, Study Finds
Wall Street Journal, Aug. 11, 2020–Cezary Podkul (subscription)Thousands of commercial-mortgage borrowers have been struggling to meet payments on their loans in the midst of the coronavirus pandemic. But there might …
COVID-19 Has Exposed the Cracks in Mortgage Modification Reporting
Mortgage Professional America, Aug. 11, 2020–Ryan SmithThe COVID-19 pandemic has exposed numerous faults in the reporting of mortgage modifications, with “numerous cases of underreported or entirely omitted modification behavior.”https://www.mpamag.com/news/covid19-has-exposed-the-cracks-in-mortgage-modification-reporting-230391.aspx
Why Banks are Putting PPP Forgiveness on the Back Burner
American Banker, Aug. 10, 2020–John Reosti (subscription)The Small Business Administration began accepting applications Monday, but lenders such as JPMorgan Chase are holding off in hopes that Congress will grant blanket …
Trump Says He’s ‘Seriously’ Considering Capital Gains Tax Cut
Bloomberg, Aug. 10, 2020–Laura Davison, Mario ParkerPresident Donald Trump said he’s “very seriously” considering a capital gains tax cut, a move he decided against last September after saying it wouldn’t …