MarketWatch, May 19, 2020–Jacob PassyFewer Americans are calling their mortgage servicers to ask for relief from mortgage payments, but the housing industry isn’t out of the woods yet. More than …
Category: Top National News
Robert Broeksmit: Help Independent Lenders Help Homeowners
Wall Street Journal, May 18, 2020–Robert Broeksmit, CMBIn a Letter to the Editor, MBA President and CEO notes while a published article acknowledges the critical role that independent mortgage banks …
5 Ways the CFPB Has Eased Industry’s Coronavirus Burden
American Banker, May 18, 2020–Kate Berry (subscription)The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished …
Commercial and Multifamily Loans Were Off to Strong Start in 2020 Until Coronavirus ‘Derailed’ Market
GlobeSt.com, May 19, 2020–Jane WesterMBA’s Jamie Woodwell says that investors and lenders are now focusing more on their existing portfolios than new opportunities.https://www.globest.com/2020/05/19/commercial-and-multifamily-loans-were-off-to-strong-start-in-2020-until-coronavirus-derailed-market/
Fear of Risk Could Diminish the Economic Rescue by the Treasury and Fed
New York Times, MAy 19, 2020–Jeanna Smialek, Alan RappeportAs the United States plunges into the worst economic downturn in decades, there is growing concern that the Federal Reserve and the …
$500 Billion Treasury Fund Meant for Coronavirus Relief Has Lent Barely Any Money So Far, Oversight Commission Finds
Washington Post, May 18, 2020–Erica WernerThe money was supposed to be used to help prop up large segments of the U.S. economy at a time when millions of Americans had …
Bankers Expect Recession to Last into 2021
American Banker, May 18, 2020–Jon Prior (subscription)Even as states begin to lift stay-at-home orders in hopes of jump-starting their sagging economies, many banking executives are bracing for a prolonged slowdown …
Ginnie Mae Adjusts Deinquency Rate Measure to Address Forbearance
National Mortgage News, May 18, 2020–Bonnie Sinnock (subscription)Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers’ need to fulfill the forbearance requirements in …
CFPB Seeks $18m Judgment Against California Mortgage Company
Mortgage Professional America, May 18, 2020–Ryan SmithThe Consumer Financial Protection Bureau has filed a proposed settlement to resolve allegations that Monster Loans, along with several related individuals and companies, unlawfully …
What Would Negative Interest Rates Mean for Mortgages?
MSN, May 18, 2020–Doug WhitemanThe Federal Reserve hasn’t left itself much room to keep using interest rates to battle the coronavirus, which Fed Chairman Jerome Powell says is worse than …