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 …
Category: Top National News
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 …
Wave of U.S. Bankruptcies Builds Toward Worst Run in Many Years
Bloomberg, May 7, 2020–Eliza Ronalds-Hannon, Katherine Doherty, Davide ScigliuzzoFirst, J. Crew. Now Neiman Marcus. Flashing red: J.C. Penney, Hertz and many more.https://www.bloomberg.com/news/articles/2020-05-07/wave-of-bankruptcies-builds-as-debt-and-virus-clobber-companies
California Homeowners Can Get Up to 10 Months to Make Up Missed Payments Or Sell
Orange County Register, May 7, 2020–Jeff LazersonIf you are in trouble, contact your mortgage servicer. Find out who owns your mortgage. Explain your plight. Find out what forbearance, mortgage modification …
Demand for Commercial Real Estate is Changing
Bloomberg, May 7, 2020–Denise PellegriniCushman & Wakefield CEO Brett White says the work from home revolution is on, but companies in most industries will still want to have employees gather …
Neiman Marcus, the Retailer to the Rich, Files For Bankruptcy
Wall Street Journal, May 7, 2020–Suzanne Kapner, Soma Biswas (subscription)A Texas oil boom turned a single Neiman Marcus department store in downtown Dallas into one of America’s biggest luxury retailers. …
Mortgage Rates Rise from Record Lows–And Signs are Emerging that Americans are Preparing to Re-Enter the Home-Buying Market
MarketWatch, May 7, 2020–Jacob PassyUntil now, lenders’ loan application volume in recent months was largely dominated by homeowners looking to refinance, given the low rates. But that trend has begun …