Bloomberg, July 31, 2020–Anita Sharpe, Nic QueroloA new forecast projects that one in three U.S. restaurants may close permanently this year, showing how the Covid-19 pandemic is decimating an industry …
Category: Top National News
Zillow Announces Employees Can Work From Home Indefinitely
HousingWire, July 31, 2020–Julia FalconZillow first closed its offices in March, and said that since then, it has brought on about 500 more employees completely remote.https://www.housingwire.com/articles/zillow-announces-employees-can-work-from-home-indefinitely/
Arch and Genworth’s Higher Default Levels Result in Lackluster 2Q
National Mortgage News, July 31, 2020–Brad Finkelstein (subscription)Higher levels of defaults, driven by the coronavirus, led to lower second-quarter earnings for the mortgage insurance units of Arch Capital and Genworth …
COVID-19 Shows Minimal Effect On Rents, Vacancies
National Mortgage Professional, July 31, 2020–Keith GriffinRents will drop and vacancies will increase due to the economic effects of the COVID-19 pandemic. Neither change, though, will be significant according to …
Wells Fargo Sold Assets to Stay Under Fed Asset Cap as Markets Lurched
Wall Street Journal, July 31, 2020–Julie Steinberg, Ben Eisen (subscription)Wells Fargo & Co. unloaded hundreds of millions of dollars of assets during this spring’s market collapse to stay out of …
Mortgage Applications for Suburban Homes are Surging as Buyers Try to Escape the Coronavirus Pandemic
MarketWatch, July 31, 2020–Sanjiv DasThe author, head of Caliber Home Loans, says the public health crisis has made many consumers reassess their priorities regarding what they’re looking for when buying …
Big Changes Are Coming To Commercial Real Estate Industry In The Wake Of The Pandemic
Forbes, July 31, 2020–David McGuireCommercial real estate brokers are expecting to see changes in demand and increases in available sublease space in the coming days, weeks and months.https://www.forbes.com/sites/forbesfinancecouncil/2020/07/31/big-changes-are-coming-to-commercial-real-estate-industry-in-the-wake-of-the-pandemic/#79e28f8436c1
Malls Turn to Underused Parking Lots for New Revenue
GlobeStreet.com, July 31, 2020–Les ShaverAs mall stores have closed during the COVID-19 outbreak, some landlords have found a new, surprising source of revenue—shopping center parking lots.https://www.globest.com/2020/07/31/malls-turn-to-underused-parking-lots-for-new-revenue/?
Fannie, Freddie to Face Bank-Like Liquidity Standards Starting Sept. 1
American Banker, July 31, 2020–Hannah Lang (subscription)The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods.https://www.americanbanker.com/news/fannie-freddie-to-face-bank-like-liquidity-standards-starting-sept-1
Redfin Posts Improved Q2 Numbers While Realogy’s Revenue, Income Declines
HousingWire, July 30, 2020–Mary Ann AzevedoRedfin saw increased revenue and a narrower loss in the second quarter while Realogy reported decreased revenue and net income.https://www.housingwire.com/articles/redfin-posts-improved-q2-numbers-while-realogys-revenue-income-declines/