Bloomberg, Aug. 20, 2020–Joe LightBanks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it …
Category: Top National News
Mortgage Rates Move Higher for Second Straight Week But Remain Below 3 Percent
Washington Post, Aug. 20, 2020–Kathy OrtonMany factors influenced mortgage rates this week — the Federal Reserve minutes, U.S. Treasury auction and encouraging economic data in retail sales and home builder …
How Economic Data Has Been Distorted During COVID-19
Marketplace, Aug. 2020–Janet NguyenThroughout the COVID-19 crisis, there’s been a proliferation of data as people pay greater attention to the monthly jobs reports and unemployment claims during this time of …
Refi Fee Will Wipe Out Millions in Mortgage Profits
American Banker, Aug. 20, 2020–Kate Berry, Bonnie Sinnock (subscription)Banks, mortgage lenders and brokers could easily end up paying hundreds of millions of dollars on refinanced loans whose fixed rates have …
Why Jumbo Mortgage Rates Make No Sense Right Now
Wall Street Journal, Aug. 20, 2020–Katy McLaughlinThe pandemic has affected jumbo loans in an odd way: rates charged by mortgage lenders are all over the place. Mike Fratantoni, Chief Economist …
What is Driving Down Mortgage Applications?
The MReport, Aug. 19, 2020–Andy Beth MillerThe Mortgage Bankers Association’s latest Weekly Survey showed that mortgage applications took a dive the week ending August 14. Data from the survey showed …
Here’s Proof That Homeowners Are Making Mortgage Payments Even as COVID-19 Threatens Their Financial Health
MarketWatch, Aug. 19, 2020–Sanjiv DasAs of mid-June, 5 million U.S. homeowners had requested mortgage forbearance. But over the past six weeks, the total number of mortgages in forbearance has declined …
Fannie Mae Creates New C-Suite Role, Promotes Jeff Hayward
National Mortgage News, Aug. 19, 2020–Paul Centopani (subscription)Fannie Mae’s new chief administrative officer position focuses on diversity, inclusion and affordable housing.https://www.nationalmortgagenews.com/news/fannie-mae-creates-new-c-suite-role-promotes-jeff-hayward
Fed Resumed Deliberations Over Policy-Setting Revamp
Wall Street Journal, Aug. 19, 2020–Nick Timiiraos (subscription)Federal Reserve officials resumed discussions last month about how to boost growth in times when interest rates can’t be lowered because they are …
Mall of America Owner Enters into Forbearance Agreement to Help with Mortgage Troubles
Minneapolis Star-Tribune, Aug. 19, 2020–Nicole NorfleetThe mall’s owner, Canadian-based Triple Five Group, has been several months late on the $1.4 billion mortgage for the megamall.https://www.startribune.com/moa-owner-behind-on-mortgage-reaches-deal-to-avoid-foreclosure/572158332/