Orange County Register, Apr. 23, 2020–Jeff LazersonBoy, that was fast! In a matter of weeks, year-over-year home price appreciation rates in two big California metros made a U-turn, escrow contracts …
Category: Top National News
‘We Got Out Early and Quickly:’ FHA Chief Details Coronavirus Response
American Banker, Apr. 23, 2020–Hannah Lang (subscription)The Federal Housing Administration has provided struggling homeowners with payment flexibility and explored other measures. At the same time, the agency is mindful of …
J.C. Penney in Advanced Talks for Bankruptcy Financing
Wall Street Journal, Apr. 23, 2020–Cara Lombardo, Alexander Gladstone (subscription)J.C. Penney Co. Inc. is in advanced talks for bankruptcy funding with a group of lenders, a sign the troubled retailer …
Mnuchin Says U.S. Has No Plans for Mortgage Servicer Lifeline
Bloomerg, Apr. 23, 2020–Saleha MohsinTreasury Secretary Steven Mnuchin said the U.S. has no current plans to create a Federal Reserve facility to inject funding into non-bank mortgage servicers, as recent …
Movement Mortgate Lowers FICO Minimums, Rolls Back Overlays, Will Retain Servicing
HousingWire, Apr. 23, 2020–Ben LaneMovement Mortgage CEO Casey Crawford told his employees Tuesday evening that the company is undoing many of the recent changes it made to its mortgage lending …
CRE Deals Collapsing Due to COVID-19
Mortgage Professional America, Apr. 23, 2020–Kasi JohnstonA new report by Real Capital Analytics says signs of the COVID-19 crisis are starting to appear in the U.S. market for commercial property …
Credit Unions Can Now Also Delay Appraisals Until 4 Months After a Mortgage Closes
HousingWire, Apr. 23, 2020–Ben LaneIn order to “allow credit unions to expeditiously extend liquidity to creditworthy households and businesses in light of recent strains on the U.S. economy as a …
Does Coronavirus Spell the End of Non-Digital Mortgage Transactions?
National Mortgage News, Apr. 23, 2020–Brad Finkelstein (subscription)If anything good were to come out of the coronavirus outbreak for the mortgage industry, it is that the pandemic was a catalyst …
Fed to Disclose Borrowers on Business Lending Programs
Wall Street Journal, Apr. 23, 2020–Nick Timiraos (subscription)The Federal Reserve said Thursday it plans to disclose monthly the borrowers, loan amounts and interest rates on funding from several new lending …
Bracing for a Sea of Homeowners in Trouble, Attorneys General Seek More Mortgage Aid
Des Moines Register, Apr. 23, 2020–Lee RoodOn Thursday, a bipartisan group of 35 attorneys general, including Iowa’s Tom Miller, asked HUD to do more to protect millions more Americans who …