Wall Street Journal, Aug. 24, 2020–Greg Ip (subscription)Blanket business shutdowns—which the U.S. never tried before this pandemic—led to a deep recession. Economists and health experts say there may be a …
Category: Top National News
Why Sluggish Mail Delivery Matters to Banks
American Banker, Aug. 21, 2020–Jon Prior (suscription)Late fees on loan payments and late-arriving documents tied to forbearance and loan forgiveness are just some examples of how delays caused by cutbacks …
Go Direct Lenders Slapped With $150,000 Fine
National Mortgage Professional, Aug. 21, 2020–Keith GriffinGo Direct Lenders, based in California, has been hit with a consent order for making false, misleading and inaccurate statements in mailers sent to …
Opinion: COVID-19 Mortgage Disaster Looms if Swift Action Isn’t Taken
The Tennessean, Aug. 23, 2020–Eddie LatimerThe author, founding director of a Nashville non-profit, says the entire mortgage servicer industry has now become the scapegoat for the financial responsibility of skipped …
Mortgage Fee Aims to Bolster Fannie, Freddie Finances Ahead of Possible Sale
Wall Street Journal, Aug. 22, 2020–Andrew Ackerman (subscription)Mortgage giants Fannie Mae and Freddie Mac are taking advantage of the mortgage-refinancing boom to shore up their capital as they seek to …
The Office Will Never Be the Same. That’s Probably a Good Thing
New York Times, Aug. 20, 2020–Claire Cain MillerThis is exactly the revolution that many workers — and those who study them — have been envisioning for years: giving people control …
To Narrow Racial and Economic Disparities, Atlanta Fed Chief Raphael Bostic is Rethinking What the Fed’s Mandate Means
Washington Post, Aug. 21, 2020–Rachel SiegelUnder the central bank’s “dual mandate,” Fed leaders are tasked with maintaining stable prices and maximizing the number of Americans with jobs. Increasingly, progressive economists …
Signs of Recovery? U.S. Business Activity and Home Sales Surge
Reuters, Aug. 21, 2020–Dan BurnsIn signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and …
America’s College Towns Are Facing an Economic Reckoning
Bloomberg, Aug. 21, 2020–Kara HarrisCommunities that rely on student spending and higher education jobs are struggling with fiscal woes and Covid-19 fears as the school year begins.https://www.bloomberg.com/news/articles/2020-08-21/what-the-pandemic-is-doing-to-college-towns?srnd=premium
It’s Unanimous: Every Banking Association Hates FHFA’s New Refi Fee
Mortgage Professional America, Aug. 21, 2020–Ryan SmithHousing industry groups have been nearly unanimous in condemning the Federal Housing Finance Agency’s recently announced decision to add a 50-basis-point fee to most …