HousingWire, May 13, 2020–Kathleen HowleyThe bill, named the Heroes Act, contains several measures that would shore up the housing market: $75 billion in mortgage relief and $100 billion for rental …
Category: Top National News
Half of Lenders Now Focused on Improving Both Front- and Back-End Tech
National Mortgage News, May 13, 2020–Brad Finkelstein (subscription)Nearly half of mortgage lenders are now putting “a great deal of effort” on improving both the front end and back end of …
CoStar Acquires Ten-X in $190 Million Deal
Wall Street Journal, May 13, 2020–Peter Grant (subscription)Data giant CoStar Group Inc. is buying the commercial real estate division of Ten-X LLC for $190 million in a deal designed to …
Mortgage Delinquencies Caused by the Coronavirus Will Exceed Great Recession Levels, According to this Forecast
MarketWatch, May 13, 2020–Jacob PassyA new report from Oxford Economics estimates that 15% of homeowners will fall behind on their monthly mortgage payments. If that forecast comes to fruition, mortgage …
Senators Question Lower Relief Loan Amounts for Small Businesses
New York Times, May 13, 2020–Emily FlitterAfter learning that some received less than they asked for under the Paycheck Protection Program, three Democrats want more scrutiny of the banks.https://www.nytimes.com/2020/05/13/business/paycheck-protection-program-small-business.html?campaign_id=2&emc=edit_th_200514&instance_id=18455&nl=todaysheadlines®i_id=42063674&segment_id=27740&user_id=e670283fb4fff3d4391d6f88569ad498
MBA: ‘Inevitable’ Increase in Mortgage Delinquency Rate Is Upon Us
MortgageOrb, May 13, 2020–Michael BatesThe delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.36% of all loans outstanding at the end of …
Economy Has Likely Bottomed, Poised for Rebound, Says Fed’s Barkin
Wall Street Journal, May 13, 2020–Michael S. Derby (subscription)Federal Reserve Bank of Richmond President Thomas Barkin believes the U.S. economy is probably at its lowest point in the coronavirus crisis, …
5 Things Mortgage Companies Need to Know About Working from Home
National Mortgage News, May 13, 2020–Bonnie Sinnock (subscription)While not without its challenges, remote work has largely kept mortgage companies running while minimizing health risks from the coronavirus. It has also …
Biden Backs Rent, Mortgage Forgiveness During Coronavirus Pandemic
The Hill, May 13, 2020–Sylvan LaneFormer Vice President Joe Biden, the presumptive Democratic presidential nominee, on Wednesday backed rent and mortgage forgiveness for those struggling to get by during the …
Powell’s Grim Coronavirus Warning Likely to Make Mortgages Even Cheaper
Yahoo! Finance, May 13, 2020–Doug WhitemanFederal Reserve Chairman Jerome Powell is warning that the economy is in for a slow and uncertain recovery from its coronavirus recession — and that …