American Banker, May 8 2020–Hannah Lang (subscription)The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account …
Category: Top National News
White House Won’t Consider Another Stimulus Bill this Month: Kudlow
Reuters, May 8, 2020–Jeff Mason, Lisa Lambert, Susan HeaveyThe White House has halted talks with Congress over any further coronavirus stimulus package as it awaits the impact U.S. state reopenings …
J.C. Penney to File for Bankruptcy as Soon as Next Week, Sources Say
Reuters, May 8, 2020–Mike Spector, Jessica DiNapoliJ.C. Penney Co Inc is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter …
47% of U.S. Realtors Expect COVID-19 to Decrease Business By at Least Half
Mortgage Professional America, May 8, 2020–Clayton JarvisIn news that will do little to calm the nerves of America’s antsy mortgage professionals, data released by Point2 Homes last week finds sentiment …
Stand-Alone MIs Have a Strong 1Q, But Coronavirus Makes the Future Murky
National Mortgage News, May 8, 2020–Brad Finkelstein (subscription)Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.https://www.nationalmortgagenews.com/news/stand-alone-mis-have-strong-1q-but-coronavirus-makes-the-future-murky
Mortgage Lenders Tighten Screws on Credit in Echo of 2008
Bloomberg, May 8, 2020–Joe LightMortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years. Mortgage Bankers Association Chief Economist …
Some Buyers, Sellers Soldier On
UExpress, May 8, 2020–Lew SichelmanNew and existing houses aren’t selling like they were prior to the pandemic. But people are still selling and buying houses.https://www.uexpress.com/housing-scene/2020/5/8/some-buyers-sellers-soldier-on
New Data: Mortgage Loans Are Getting Increasingly Harder To Come By
Forbes, May 8, 2020–Aly J. YaleA mortgage loan hasn’t been this hard to come by in over five years. And loans for low-credit or high-balance borrowers? Those are even rarer. …
Q1 Commercial/Multifamily Borrowing Declines Two Percent
National Mortgage Professional, May 7, 2020Commercial and multifamily mortgage loan originations decreased 2.0% in the first quarter compared to the same period last year, according to the Mortgage Bankers Association’s …
Non-QM Lending Inching Back Into the Market
HousingWire, May 7, 2020–Ben LaneIt looks like non-QM lending is staging a comeback, albeit a slight one, as several companies that halted non-QM lending in March are now back in …