Bloomberg, June 1, 2020–Christopher MaloneyMortgage investors have yet to enjoy robust returns this year despite the Federal Reserve providing $688 billion of support to the sector since mid-March. (MBA mention)https://www.bloomberg.com/news/articles/2020-06-01/mortgage-sector-off-to-worst-start-since-2013-despite-fed-help
Category: Top National News
5 Questions for the MBA’s Robert Broeksmit About Liquidity Gaps
National Mortgage News, June 1, 2020–Bonnie Sinnock (subscription)MBA President and CEO Robert Broeksmit discusses the current state of liquidity needs in the mortgage banking industry, and the risks that remain …
Desperate Retailers to Ask Fed, Treasury for Emergency Help
Washington Post, May 31, 2020–David Lynch, Abha BhattaraiWithout a Treasury or Fed guarantee of its routine financing, the retail industry could suffer “a commercial credit crisis that threatens to seize …
New Data Suggest COVID-19 is Widening Housing Disparities by Race and Income
Urban Institute, May 29, 2020–Solomon Greene, Alanna McCargoRacial and economic disparities in access to safe and affordable housing existed long before the COVID-19 pandemic, and new data from the US …
Coalition Warns of ‘Significant Negative Consequences’ from California Bill
The Mortgage Leader, May 29, 2020A bill moving through the California State Assembly is drawing strong opposition from the California Mortgage Bankers Association, which has put together a 12-organization coalition …
Here’s What You Need to Know About Paying Your June Rent or Mortgage
Washington Post, May 31, 2020–Renae MerleAlready, more than 8 percent of U.S. homeowners, about 4.7 million households, have signed up for mortgage relief programs, according to the Mortgage Bankers Association. …
Key Races to Watch in Tuesday’s Primaries
The Hill, May 31, 2020–Julia ManchesterEight states and Washington, D.C., will hold primaries on Tuesday, marking the busiest electoral day since the start of the coronavirus outbreak in mid-March.https://thehill.com/homenews/campaign/500173-key-races-to-watch-in-tuesdays-primaries?rnd=1590947474
Coronavirus Sinks U.S. Consumer Spending; Savings Hit Record High
Reuters, May 29, 2020–Lucia MutikaniU.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to a record high, and the growing …
Brian Brooks Takes Over as Comptroller of the Currency, Lays Out Plans for Banking Regulation
HousingWire, May 29, 2020–Ben “Last Article” LaneJust two months after joining the Office of the Comptroller of the Currency as chief operating officer and first deputy comptroller, Brian Brooks has …
Wells Fargo Struggling to Stay Under Asset Cap Amid Pandemic, CEO Says
National Mortgage News, May 29, 2020–Jon Prior (subscription)Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to …