National Mortgage Professional, June 16, 2020Mortgage Bankers Association Builder Application Survey data for May show mortgage applications for new home purchases increased 10.9% compared to one year ago, and compared …
Category: Top National News
Powell Says Despite Signs of Stabilization, Risks of Long-Term Economic Damage Are Significant
Wall Street Journal, June 16, 2020–Nick TImiraos (subscription)Federal Reserve Chairman Jerome Powell said the economy faces significant long-term damage from higher unemployment and a wave of small business failures due …
These Homeowners are Seeking Forbearance and their Reasons Why Say a Lot About the Economy
MarketWatch, June 16, 2020–Sanjiv DasMortgage lender CEO (Caliber Home Loans) shares his firm’s experience as borrowers grapple with the coronavirus pandemic and recession.https://www.marketwatch.com/story/these-homeowners-are-seeking-mortgage-forbearance-and-their-reasons-why-say-a-lot-about-the-economy-2020-06-16
Mall of America Said to Miss Another Payment on Mortgage Debt
Bloomberg, June 16, 2020–John GittelsohnMinnesota’s Mall of America missed another payment on a $1.4 billion mortgage, putting the borrower more than 60 days delinquent, sources said.https://www.bloomberg.com/news/articles/2020-06-16/mall-of-america-said-to-miss-another-payment-on-mortgage-debt
Mortgage Lenders ‘Make Hay’ With Loan Spreads Widest Since 2008
Bloomberg, June 16, 2020–Prashant Gopal, Shahien NasiripourUnemployment is high. Credit is tight. And scientists are warning that a dangerous second wave of the coronavirus is coming. But somehow, U.S. mortgage …
Should Nonbank Mortgage Companies Be Permitted to Become Federal Home Loan Bank Members?
Urban Institute, June 16, 2020–Karan Kaul, Laurie GoodmanThis brief articulates the benefits of expanding FHLB membership to nonbanks. It shows there is strong alignment between the nonbank business model and …
Congress Set for Fight over Expiring Unemployment Relief
The Hill, June 16, 2020–Niv Elis, Naomi JagodaCongress is under pressure to extend expiring unemployment benefits as COVID-19 infections continue to rise in some states and as jobless rates remain …
FHFA Identifies Supervisory Concerns at Two Federal Home Loan Banks
National Mortgage News, June 15, 2020–Hannah Lang (subscription)The Federal Housing Finance Agency identified several safety and soundness concerns with the Federal Home Loan Bank of Des Moines and the Federal …
How Much Assistance Is Needed to Support Renters through the COVID-19 Crisis?
Urban Institute, June 15, 2020–Sarah Strochak, Aaron Shroyer, Jung Hyun Choi, Kathryn Reynolds, Laurie GoodmanThis brief compares published estimates of the impact of the COVID-crisis on renter households.https://www.urban.org/research/publication/how-much-assistance-needed-support-renters-through-covid-19-crisis
JP Morgan to Advise Freddie Mac in Planned Recapitalization, Conservatorship Exit
Commercial Observer, June 15, 2020–Mack BurkeBanking giant J.P. Morgan Chase has been tapped by Freddie Mac to advise the government-backed mortgage behemoth on its recapitalization and planned exit from federal …