American Banker, July 6, 2020–Penny Crosman (subscription)Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have …
Category: Top National News
Foreclosure Threat Grows as COVID-19 Surges, Fed Says
HousingWire, July 6, 2020–Kathleen HowleyThe danger of mortgage forbearances turning into foreclosures is rising as COVID-19 infections surge in the U.S., according to the Federal Reserve Bank of Atlanta.https://www.housingwire.com/articles/foreclosure-threat-grows-as-covid-19-surges-fed-says/
Borrowers Need Property Tax Relief, Too. Here’s How It Could be Done
National Mortgage News, July 6, 2020–Glenn Newman (subscription)There are substantial costs involved in defaulting a mortgage and instituting foreclosure proceedings. By providing flexibility for property tax payments localities can help …
Will the Economy Go Back Out of Service?
Wall Street Journal, July 6, 2020–Justin Lahart (subscription)The services sector rebounded in June. But with new Covid-19 cases rising in many parts of the country, the big question is whether …
Refinancing Your Mortgage Could Put Cash in Your Pocket…
CNBC, July 6, 2020–Michelle Fox“We are telling everybody who has a loan over 4% to consider refinancing, if they still have income,” said Winnie Sun, president and founder of Irvine, …
SCOTUS Upholds Robocall Ban
Associated Press, July 6, 2020Political consultants and pollsters were among those asking the Supreme Court to strike down the 1991 law that bars them from making robocalls to cellphones as …
First Black Fed President Warns of Systemic Racism’s Economic Toll
Wall Street Journal, July 6, 2020–Nick Timiraos (subscription)Raphael Bostic, the Federal Reserve Bank of Atlanta’s president, is shining a light on how economic and social upheaval have changed how the …
Mall and Hotel Loans Are Blowing up Commercial Mortgage-Backed Securities
Wolf Street, July 5, 2020–Wolf RichterThe delinquency rate for Commercial Mortgage Backed Securities (CMBS) spiked by 317 basis points to 10.3% in June, after having spiked by 481 basis points …
The New Boomerang Kids Could Change American Views of Living at Home
The Atlantic, July 3, 2020–Joe PinskerFor the most part, the pandemic has restricted motion in America. But one exception has been a large-scale nationwide reshuffling of humans between homes. Before …
The Rate of Black Homeownership Varies Significantly By Metro Area
HousingWire, July 2, 2020–Julia FalconLooking at the metro level, the rate of Black homeownership in different geographies reveals more details. Black homeownership is highest in Washington, D.C., with 51% of …