Washington Post, May 18, 2020–Michelle SingletaryHomeowners who fell behind on mortgage payments were told they had to come up with enormous lump sums at the end of their forbearance. It …
Category: Top National News
How Can CRE Survive the Impending Recession?
GlobeSt.com, May 18, 2020–Lisa BrownThere are clear, actionable changes property owners and facility managers can implement today to save money tomorrow, recouping some of the lost costs from COVID, said …
J.C. Penney Store Closings Coming; Retailer Trying to Avoid Liquidation in Chapter 11 Bankruptcy
USA Today, May 16, 2020–Nathan Bomey, Kely TykoThe department store chain filed for bankruptcy Friday and is asking a federal judge to authorize the rejection of 20 leases in the …
Mortgage Relief That Comes With a $4,000 Bill
New York Times, May 16, 2020–Tara Siegel BernardBorrowers with privately held mortgages don’t have the same options as those with government-backed loans. Some are being told they can skip payments, …
Fed Chair Issues Dire Warning on Economy
The Hill, May 16, 2020–Sylvan LaneFederal Reserve Chairman Jerome Powell shook markets and alarmed lawmakers this week with a dire warning: The U.S. could suffer through years of sluggish growth …
Homeowners Who Can’t Make Payments Get a New Deferral Option
Los Angeles Times, May 16, 2020–Andrew KhouriMortgage Bankers Association President Robert Broeksmit said the Fannie Mae and Freddie Mac deferral option will “ease the burden for homeowners.”https://www.seattletimes.com/business/real-estate/homeowners-who-cant-make-mortgage-payments-get-a-new-deferral-option/
Retail Sales Plunged 16.4% in April As Coronavirus Pandemic Drives Record Decline
Washington Post, May 15, 2020–Rachel Siegel, Abha BhattaraiRetail sales plunged 16.4 percent in April, by far the biggest drop on record and another reflection of how severely the coronavirus pandemic …
Morningstar Fined $3.5 Million for Violating Conflict of Interest Rules on ABS Ratings
HousingWire, May 15, 2020–Ben LaneThe Securities and Exchange Commission announced Friday that it is ordering Morningstar Credit Ratings to pay a $3.5 million fine for violating conflict of interest rules …
Why Mortgage Market Bailout Left Everyone Confused
Bloomberg, May 15, 2020–Christopher Maloney, Olivia RockemanIn the U.S. mortgage market, what counts as good news for consumers isn’t always good news for investors, and vice-versa. The pandemic has scrambled …
Can Unemployment Numbers Predict the Number of Mortgages That Will Go into Forbearance?
Urban Institute, May 15, 2020–Laurie Goodman, Michael Neal, Jung Hyun ChoiThe authors explain why estimating how many of the 33.4 million borrowers who have government-backed mortgages will ask for forbearance …