National Mortgage News, May 27, 2020–Bonnie Sinnock (subscription)Economic uncertainty and the proliferation of coronavirus-related forbearance have complicated mortgage lending in general, but for borrowers with nontraditional income, it’s been particularly …
Category: Top National News
Mortgage Niche Showed Promise for Michigan Bank. Then Coronavirus Hit
American Banker, May 27, 2020–John Reosti (subscription)University Bancorp in Ann Arbor, Mich., shuttered its wholesale mortgage division a year after its launch when the pandemic made it virtually impossible to …
Cultivating the Future of Housing
MReport, May 27, 2020–Mike AlbaneseTwenty-seven percent of the housing industry’s workforce identifies as a racial or ethnic minority. Fannie Mae and the Mortgage Bankers Association are looking to change that. …
Homebuyer Interest Surpasses 2019 Levels. Here’s What It Means for a Real Estate Recovery
Barron’s, May 27, 2020–Shaina MishkinThe result is a sign of a V-shaped housing recovery, said Joel Kan, the Mortgage Bankers Association’s associate vice president of economic and industry forecasting. “We’ve …
Mortgage Demand From Homebuyers Shows Unexpectedly Strong and Quick Recovery…
CNBC, May 27, 2020–Diana OlickIt’s not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster …
Tenants Fear Mass Evictions as Moratoria Expire
The Hill, May 27, 2020–J. Edward MorenoAs the pandemic began to take a grip on the country in March, dozens of states passed eviction moratoriums that protect tenants from being …
Is the Housing Market Already Rebounding From COVID-19?
HousingWire, May 26, 2020–Logan MohtashamiHousingWire checked on the five metrics it identified as signals for the beginning of the economic recovery.https://www.housingwire.com/articles/is-the-housing-market-already-rebounding-from-covid-19/
What Ransomware Attacks on Vendors Mean for Banks
American Banker, May 26, 2020–Penny Crosman (subscription)Cybercriminals have targeted at least four financial services technology companies in recent months, potentially giving hackers back-door access to clients. Here’s how banks can …
Hoyer Says House and Senate Close on PPP Loan Extension
Bloomberg, May 26, 2020–Erik Wasson, Billy HouseHouse Majority Leader Steny Hoyer said the House and Senate should be able to quickly agree on changes to the Small Business Administration’s popular …
The Survival of the Fittest: How a Leading Non-QM Lender is Making It Through the Pandemic
Mortgage Professional America, May 26, 2020–Kasi JohnstonArc Home Loans, best known for being a leader in specialty mortgage solutions and their proprietary non-QM products were forced to pivot their focus …