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, …
Category: Top National News
Multifamily Loan Maturities Expected to Rise as Net Operating Incomes Drop
GlobeSt.com, May 14, 2020–Thomas PhillipsMaturities for multifamily loans will be up this year by double-digits during the disruption of capital markets by the COVID-19 pandemic, according to a new report …
Fannie Mae Predicts Highest Refinancing Volume in Nearly a Decade
National Mortgage News, May 14, 2020–Brad Finkelstein (subscription)The economic contraction will keep mortgage rates low for the foreseeable future.https://www.nationalmortgagenews.com/news/fannie-mae-predicts-highest-refinancing-volume-in-nearly-a-decade
CrossCountry Mortgage Acquires First Choice Loan Services
National Mortgage Professional, May 14, 2020–Navi PersaudOhio-based mortgage lender CrossCountry Mortgage has acquired New Jersey-based residential mortgage lender First Choice Loan Services.https://nationalmortgageprofessional.com/news/74905/crosscountry-mortgage-acquires-first-choice-loan-services
Economic Shock of Virus Hit Lower-Income Households Harder, Fed Finds
Wall Street Journal, May 14, 2020–David Harrison (subscription)The economic shock stemming from the coronavirus pandemic hit lower-income households first and immediately left them much worse off, according to a new …
One-Quarter of American Restaurants Won’t Reopen, OpenTable Says
Bloomberg, May 14, 2020–Edward LudlowOne in every four U.S. restaurants will go out of business due to the coronavirus quarantines that have battered the food-service industry, according to OpenTable.https://www.bloomberg.com/news/articles/2020-05-14/one-quarter-of-american-restaurants-won-t-reopen-opentable-says
Fannie-Freddie Forbearance Rule Sows Fears of Mortgage Hangover
Bloomberg, May 14, 2020–Joe Light, Shahien NasiripourThe snafu has been triggered by the hastily drafted $2.2 trillion stimulus bill that Congress passed in March. But the law didn’t address long-standing …
Mortgage Rates Settle Near Historic Lows as the Purchase Market Begins to Pick Up
Washington Post, May 14, 2020–Kathy OrtonMortgage rates have held steady for the past three weeks, a remarkably calm period after early spring’s wild swings. According to the latest data released …
How Real Estate Investors, Developers Will Weather Economic And Social Impacts Of A Global Pandemic
Forbes, May 14, 2020–Ari RastegarDespite the chaos that’s taking hold in the broader market, investors and developers can apply brave but smart strategies to keep their projects going and assets …
As Buyers Return to the Housing Market, There Aren’t Enough Homes for Sale
Marketplace, May 13, 2020–Amy ScottMany properties that were planned to go on the market have been pulled and the for-sale signs taken down, so if you are looking to buy, …