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 …
Category: Top National News
Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds
ProPublica, May 15, 2020–Heather VogellSecurities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. Adam DeSanctis, a spokesperson for the Mortgage Bankers Association, …
Fewer Borrowers are Asking for Mortgage Relief, But That Could Change With Bailout Improvements
CNBC, May 15, 2020–Diana Olick“The payment deferral option gives mortgage servicers a practical tool to help homeowners through this unprecedented time,” said Bob Broeksmit, CEO of the Mortgage Bankers Association. …
MBA Says Buyers Will Return by Summer as Lockdown Ends
Mortgage News Daily, May 15, 2020–Jann Swanson“There’s evidence now that unrealized, pent-up demand is being released as states start to reopen,” said MBA Associate Vice President Joel Kan. “We expect …
10 Big CRE Deals That Fell Apart Because of the Pandemic
National Real Estate Investor, May 15, 2020–Elaine MisonzhnikTwo months into the lockdown, the pandemic has disrupted a number of high-profile real estate deals, including stand-alone building sales, portfolio transactions and …
Closings Go High-Tech — and Low
UExpress.com, May 15, 2020–Lew SichelmanTitle companies are pulling out all the stops to get deals closed during the COVID-19 pandemic. But they say the best way to close — not …
Battered by Coronavirus Crisis, Online Lenders Face Reckoning
American Banker, May 14, 2020–Kevin Wack (subscription)The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.https://www.americanbanker.com/news/battered-by-coronavirus-crisis-online-lenders-face-reckoning
JPMorgan Chase, American Homes 4 Rent Plan to Build Thousands of Single-Family Rental Homes
HousingWire, May 14, 2020–Ben LaneJ.P. Morgan Asset Management, the asset management arm of JPMorgan Chase and American Homes 4 Rent announced Thursday that they are establishing a joint venture that …
The Mortgage Market Has Caught the Virus
Urban Institute, May 14, 2020–Laurie Goodman, Jim Parrott, Bob Ryan, Mark ZandiThe authors note while the nation’s housing and mortgage markets aren’t causing the broader economic disruption in this crisis, …
Cash-Out Refinancing, Home Equity Lending May Come to a Halt
Orange County Register, May 14, 2020–Jeff LazersonMortgage lenders are charging more, cutting back on loan sizes or shuttering equity lending altogether. Nearly 8% of all mortgages are now in forbearance, …