American Banker, June 1, 2020–Kate Berry (subscription)The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers …
Category: Top National News
How Lenders are Preparing for a Wave of Loan Modifications
National Mortgage News, June 2, 2020–Brad Finkelstein (subscription)For the first weeks of the coronavirus crisis, mortgage servicers were in triage mode. As the government issued a flurry of measures to …
U.S. Economy Faces Projected 10-Year Recovery From Coronavirus Effects
Wall Street Journal, June 1, 2020–Paul Hannon, Paul Kiernan (subscription)The U.S. economy could take the better part of a decade to fully recover from the coronavirus pandemic and related shutdowns, …
How the COVID-19 Pandemic Kick-Started Digital Innovation in Mortgage
HousingWire, June 1, 2020–Phil HallLeaders from Wells Fargo, CitiMortgage and loanDepot discuss the tech solutions that got a boost.https://www.housingwire.com/articles/how-the-covid-19-pandemic-kickstarted-digital-innovation-in-mortgage/
Three Mortgage Leaders Pump Up the Hiring Volume
HousingWire, June 1, 2020–Phil HallQuicken Loans, United Shore and Better.com have hired thousands of people this year and plan to bring in a similar volume in the coming weeks.https://www.housingwire.com/articles/three-mortgage-leaders-pump-up-the-hiring-volume/
Worried Comments from Fed’s Powell Foreshadow Even Lower Mortgage Rates
Yahoo! Finance, June 2, 2020–Doug WhitemanThe Fed’s words and actions have been helping to push mortgage rates to one record low after another, and the chairman’s newest statements could keep …
How Economic Crises and Sudden Disasters Increase Racial Disparities in Homeownership
Urban Institute, June 1, 2020–Alanna McCargo, Michael NealThe authors outline considerations and implications for racial equity, homeownership, and wealth building presented by the current pandemic, which is magnifying racial and …
Despite Widespread Economic Toll, Most Americans Still Favor Controlling Outbreak over Restarting Economy
Washington Post, June 1, 2020–Scott Clement, Dan BalzNearly 6 in 10 Americans say the coronavirus outbreak has exacted a severe economic toll on their communities, but a majority of a …
The Write-Downs are Coming. Start Preparing Now
American Banker, June 1, 2020–Eugene Ludwig, Wayne Rushton, Tom Freeman, Jeff Glibert (subscription)The crisis being triggered by the coronavirus pandemic is accelerating the financial industry toward an era of dramatically …
U.S. Manufacturing Activity Crawls Off 11-Year Low
Reuters, June 1, 2020–Lucia MutkaniThe promising signs of stabilization in manufacturing reported by the Institute for Supply Management on Monday are a welcome respite as the country braces for data …