HousingWire, May 7, 2020-Brena NathCordray touches on what his biggest concerns are right now with the increase in forbearance requests, along with the messaging that the industry needs to be …
Category: Top National News
Hispanic Homebuyers Will Be Critical for the Next Housing Market Recovery. Here’s Why They May Struggle
Urban Institute, May 6, 2020–Caitlin Young, Jung Hyun ChoiThe latest comprehensive review of Hispanic homeownership reveals that Hispanic homebuyers contributed significantly to the post-2007 housing recovery. But Urban Institute analysis …
Mortgage Rates Hover Near Historic Lows as Investors Assess Where Economy is Headed
Washington Post, May 7, 2020–Kathy OrtonMortgage rates were little changed this week as investors wait to see what happens to the economy as states relax their coronavirus restrictions. (MBA mention)https://www.washingtonpost.com/business/2020/05/07/mortgage-rates-hover-near-historic-lows-investors-assess-where-economy-is-headed/
Democrats Press Top Mortgage Servicers on Forbearance Issues
HousingWire, May 6, 2020–Ben LaneFour leaders of the House Financial Services Committee want much more information from the nation’s biggest mortgage servicers on how many borrowers are asking for forbearance …
Fannie Mae Temporarily Drops Employment Rep and Warrant Relief
National Mortgage News, May 6, 2020–Brad Finkelstein (subscription)Fannie Mae has temporarily suspended representation and warrant relief for verification of employment previously performed through its DU validation service.https://www.nationalmortgagenews.com/news/fannie-mae-temporarily-drops-employment-rep-and-warrant-relief
Genworth Posts 1Q Loss; China Oceanwide Deal Delayed Again
Insurance News.Net, May 6, 2020–John HiltonGenworth reported a first-quarter loss of $66 million, after reporting a profit in the same period a year earlier. The quarterly report comes two days …
Fed’s Evans Hopeful for Second-Half Recovery, but Says a Lot Needs to Go Right
Wall Street Journal, May 5, 2020–Michael S. Derby (subscription)Federal Reserve Bank of Chicago President Charles Evans said Tuesday he was hopeful the economy could return to growth in the second …
What Happens to Main Street When Even the Biggest Retailers Can’t Pay Rent?
NBC News, May 6, 2020–Leticia MirandaWith billions of dollars in lost payments at stake, retail landlords have been working aggressively to find some resolution with struggling tenants. “Everything is on …
Delgado: COVID-19 a ‘Tsunami’ With Slowly Rising Defaults
DS News, May 6, 2020–Mike AlbaneseDelgado gave the remarks as part of the virtual Mortgage Industry Pandemic Summit’s morning keynote session. He was joined for the panel by moderator Jack …
How Fannie Mae’s Advance Cap Has Impacted the Market So Far
National Mortgage News, May 6, 2020–Bonnie Sinnock (subscription)Some benefits are materializing from Fannie Mae’s pledge to limit servicers’ exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of …