Bloomberg, Aug. 26, 2020–Erik Wasson, Justin SinkWhite House Chief of Staff Mark Meadows predicted there will be no stimulus deal with Congress until the end of September. “If we got …
Category: Top National News
Hurricane Laura Puts 432K Homes Worth $88 Billion at Risk
National Mortgage News, Aug. 26, 2020–Paul Centopani (subscription)Damage from Hurricane Laura’s surge could potentially devastate 432,810 residential properties totaling over $88.6 billion in reconstruction cost value across Texas and Louisiana, …
Commercial Mortgage Debt in Distress Surges 320%, Moody’s Says
Bloomberg, Aug. 26, 2020–John GittelsohnMore than $54.3 billion in U.S. commercial mortgage backed securities have been transfered to loan workout specialists mostly because of payment delinquencies, a 320% increase since …
Fannie Mae, Freddie Mac Will Delay Controversial Refinance Fee
MarketWatch, Aug. 26, 2020–Jacob PassyThe Federal Housing Finance Agency has instructed Fannie Mae and Freddie Mac to hold off on the implementation of a new fee that is aimed at …
Mortgage Demand from Homebuyers Spikes 33% Annually, Signaling No End to Summer Spree
CNBC, Aug. 26, 2020–Diana OlickMortgage applications to purchase a home rose just 0.4% last week from the previous week but were a remarkable 33% higher than a year ago, according …
Manhattan Real Estate Market Stronger Now Than During The Great Recession, But Future Is Uncertain
Forbes, Aug. 25, 2020–Lisa ChamoffThe Manhattan real estate market is currently in better shape now than it was during the peak of the Great Recession, according to a recent analysis …
Major Real Estate Website Now Shows Flood Risk. Should They All?
NPR, Aug. 26, 2020–Rebecca Hersher, Lauren SommerRealtor.com has become the first site to disclose information about a home’s flood risk, and how climate change could increase that risk in the …
Hurricane Laura Takes Aim at Gulf Coast
CBS News/Associated Press, Aug. 25, 2020Laura became a hurricane Tuesday after moving into the Gulf of Mexico, gathering strength on a path to hit the U.S. coast as a major …
FDIC’s Quarterly Report Shows Extent of Pandemic’s Hit to Bank Profits
American Banker, Aug. 25, 2020–Brendan Pedersen (subscription)The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a …
Most Buyers Would Break Their Budget for a Dream Home–Study
Mortgage Professional America, Aug. 25, 2020–Ryan SmithDespite the economic turmoil wrought by COVID-19, nearly two thirds of home buyers are willing to go over budget for their dream home, according …