The Hill, May 20, 2020–Alexander BoltonSenate Majority Leader Mitch McConnell, R-Ky., has put the brakes on further coronavirus relief negotiations, citing the budgetary impact of trillions of dollars in unanticipated …
Category: Top National News
Fed Worries Turned to Financial Stability in April Meeting
Bloomberg, May 20, 2020–Christopher Condon, Rich MillerU.S. central bankers saw the coronavirus pandemic posing a severe threat to the economy when they met last month and were also concerned by …
New York City’s Housing Market Struggles Under Lockdown with Residential Sales Down 61% YOY
HousingWire, May 20, 2020–Phil HallNew York City is the U.S. epicenter of the coronavirus pandemic, and the local economy has been harshly impacted by the health crisis. But the city’s …
Behind Bond Market’s Stall, Investors See Hard Times Ahead
Wall Street Journal, May 20, 2020–Sam Goldfarb (subscription)Yields on U.S. government bonds have stalled near record lows, a sign that investors are anticipating a difficult economic recovery and years of …
Mortgage Regulator to Loosen Financial Restrictions for Home Loans in Forbearance
MarketWatch, May 20, 2020–Jacob PassyFannie Mae and Freddie Mac issued temporary guidance stipulating that borrowers will be eligible to refinance or buy a new home if they are in a …
Weekly Mortgage Applications Point to a Remarkable Recovery in Homebuying
CNBC, May 20, 2020–Diana OlickIf mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses. Mortgage applications …
Mortgage Bankers Renew Push for a Market-Wide Liquidity Facility
National Mortgage News, May 20, 2020–Bonnie Sinnock (subscription)Mortgage Bankers Association President and CEO Robert Broeksmit on Tuesday reiterated his call for a broad coronavirus-related liquidity facility akin to Ginnie Mae’s, …
Millions of People Lost Their Jobs in Hard-Hit New England. Many Fear Their Homes Could be Next
Washington Post, May 20, 2020–Tony RommWidespread unemployment–and soon-expiring federal aid–could create a major financial crisis for homeowners and renters without more action from Washington, experts say.https://www.washingtonpost.com/business/2020/05/20/new-england-unemployment-housing-crisis/
Landlords Fume as Starbucks, Other Chains Seek Extended Rent Cuts
Wall Street Journal, May 19, 2020–Esther Fung, Heather HaddonNational restaurant chains and other stable businesses are prodding their landlords for rent relief as the economic picture sours, setting the stage …
Regulators Ease Restrictions on Homeowners in Coronavirus Mortgage Bailout Program
CNBC, May 19, 2020–Diana OlickFederal regulators have changed rules and cleared up some confusion about limits placed on the more than 4 million borrowers in the mortgage relief program the …