HousingWire, May 11, 2020–Phil HallThe Mortgage Bankers Association cancelled its live conferences when the crisis began to spread in March and switched to online formats for the interim. MBA Chief …
Category: Top National News
The 8 Key Provisions Expected in Democrats’ Next COVID-19 Bill
The Hill, May 11, 2020–Mike Lillis, Scott WongSpeaker Nancy Pelosi (D-Calif.) and House Democrats are charging ahead this week with the next round of emergency coronavirus relief — another massive, …
The Office Is Dead
Marker, May 11, 2020–Courtney RubinFrom startups and tech giants to more old-school Wall Street firms, businesses are rethinking the role of office space and whether they even need it. https://marker.medium.com/the-office-is-dead-16be89f25d01
Fed’s Kashkari Says Worst Is Yet to Come, Congress Must Step Up
Bloomberg, May 10, 2020–Alister BullFederal Reserve Bank of Minneapolis Gov. Neel Kashkari, who votes on monetary policy this year, said the central bank would do everything in its power to …
Federal Government Expands Investigation into Money Laundering in Real Estate
HousingWire, May 8, 2020–Ben LaneThe Treasury Department’s Financial Crimes Enforcement Network, which has been investigating all-cash luxury real estate deals since January 2016, announced Friday that it is extending its …
CFPB Gets Earful from Consumers About Mortgage Servicers
National Mortgage News, May 10, 2020–Kate Berry (subscription)Complaints to the bureau hit a record high in April. More than one in five said servicers wouldn’t grant deferrals, forced borrowers into …
How Independent Mortgage Companies Are Leveraging Fintech to Win in Local Markets
National Mortgage Professional, May 8, 2020–Allen ShayanfekrFinally, after a decade of giving up the market to private lenders, banks are beginning to see the market opportunity and are starting to …
Despite Recent Bets, Fed Isn’t Likely to Consider Negative Interest Rates
Wall Street Journal, May 10, 2020–Nick Timiraos (subscription)Federal Reserve officials are unlikely to consider using negative interest rates to stimulate economic growth in the current coronavirus-induced downturn after concluding the …
WeWork’s Woes Cause Mortgage-Backed Bonds to Tumble
Financial Times, May 10, 2020–Joe Rennison, Eric PlattWeWork’s move to skip rent payments and renegotiate hundreds of its leases is rippling into the commercial mortgage market, sending the price of …
Mnuchin Warns of ‘Permanent Economic Damage’ if Country Doesn’t Reopen
The Hill, May 10, 2020–Zack BudrykTreasury Secretary Steven Mnuchin on Sunday said reopening the economy amid the coronavirus pandemic must be done in a “thoughtful way” but that not lifting …