Forbes, Apr. 30, 2020–Amy DobsonIn the moderate, or ‘baseline’ scenario, an estimated 3 million borrowers could be more than 90 days behind on payments (90 days is what they define …
Category: Top National News
‘W-Shaped’ Recovery May Be Too Optimistic, Fed’s Powell Suggests
Reuters, Apr. 30, 2020–Lindsay DunsmuirFederal Reserve Chair Jerome Powell has sketched out an altogether bumpier ride for the U.S. economy than many are predicting – one that sees business activity …
How Will COVID-19 Affect Affordable Housing?
Mortgage Professional America, Apr. 30, 2020–Kasi JohnstonThe need for affordable housing isn’t going away, according to Marsha Goff of Merchants Capital, but she believes new affordable housing projects may be …
The Mortgage Industry is Hiring
HousingWire, Apr. 29, 2020–Clayton CollinsThe housing industry has the opportunity to be the path to economic recovery for our country. Providing safe places to live, reviving consumer balance sheets, injecting …
Fannie-Freddie Escape Plan at Risk of Collapse in Mortgage Chaos
Bloomberg, Apr. 29, 2020–Elizabeth DexheimerFannie Mae and Freddie Mac face strong headwinds from the mayhem coronavirus has spread through the mortgage market, complicating the Trump administration’s plans to free them …
Worst Economy in a Decade. What’s Next? ‘Worst in Our Lifetime.’
New York Times, Apr. 29, 2020–Ben CasselmanThe coronavirus pandemic officially snapped the United States’ economic growth streak in the first three months of the year. The question now is how …
Guaranteed Rate to Pay $15 Million to Settle Claims of FHA, VA Loan Violations
HousingWire, Apr. 29, 2020–Ben LaneThe Department of Justice announced Wednesday that Guaranteed Rate, one of the nation’s largest consumer direct lenders, has reached an agreement to settle charges that the …
The U.S. Housing Market Just Got Some Fiercely Bullish News
CCN, Apr. 29, 2020–Josiah WilmothVolume still has a long way to go to reach prior-year levels, but this week’s 12% jump in mortgage applications from homebuyers [reported by the Mortgage …
In Face of Coronavirus, Bankers Apply Lessons from Natural Disasters
American Banker, Apr. 29, 2020–John Engen (subscription)Industry veterans have drawn from their experiences with wildfires, earthquakes and hurricanes to fashion their responses to the pandemic.https://www.americanbanker.com/news/in-face-of-coronavirus-bankers-apply-lessons-from-natural-disasters
Much of U.S. Economy Still Plugging Along Despite Coronavirus Pain
Reuters, Apr. 29, 2020–Howard SchneiderThe coronavirus crisis would appear to have put the entire U.S. economy on ice. Still the U.S. job count stood at more than 152 million as …