Wall Street Journal, MAr. 24, 2020–Peter Grant, Katherine Sayre (subscription)The market for issuing securities backed by commercial mortgages has frozen up, leaving some of the biggest names on Wall Street …
Category: Top National News
Mortgage Closings at Risk as Coronavirus Shutters Title and Recording Offices
CNBC, Mar. 24, 2020–Diana OlickState, county and local governments have shut down or are limiting the number of people who may enter their offices, including property recording centers. That puts …
‘It’s Going to Be a Liquidity Tsunami:” Mortgage Firms Gear up for Missed Payments
The Real Deal (New York), Mar. 24, 2020The Mortgage Bankers Association is now lobbying Congress and the Trump administration to set up a lending facility that can help make up …
The Housing Market Crash’s First Victims Won’t Be Homeowners
CCN.com, Mar. 24, 2020–W.E. MessamoreWhen the housing market crashes, it’ll be mortgage servicers and lenders that lose their shirts. Then the financial institutions that invest in bundled mortgage securities. Bob …
Let’s Not Call It A Bailout; Businesses Didn’t Cause the Coronavirus
NPR, Mar. 23, 2020–Pallavi Gogoi This time, the business community bears no responsibility for the coronavirus, the suddenness of its appearance and its spread. Companies, large and small, are not …
Carol Galante: Lessons from the Last Crisis
Mortgage Media, Mar. 24, 2020–Eric SouzaFormer FHA commissioner Carol Galante talked about the impact of COVID-19 on the housing industry. The discussion focused on her recent post titled Lessons from …
Banks Get Break they Needed on Loan Workouts
American Banker, Mar. 23, 2020–John Reosti (subscription)Regulators’ decision to delay reporting for troubled-debt restructurings should allow banks and credit unions to be more nimble modifying loans impaired by the coronavirus …
Bankers Pledge Mortgage Help, but Want Billions
New York Times, Mar. 23, 2020–Emily Flitter, Matthew GoldsteinMillions of borrowers may be unable to make payments on home loans next week. The mortgage industry says it’s willing to help, …
Mortgage Firms Brace for Wave of Missed Payments as Coronavirus Slams Homeowners
Wall Street Journal, Mar. 23, 2020–Andrew Ackerman (subscription)Mortgage companies are bracing for a severe cash crunch when Americans who lose jobs and income because of the coronavirus pandemic stop making …
Mortgage Bond Sales Flood Market, Sparking Pleas for U.S. Help
Bloomberg, Mar. 23, 2020–Sridhar Natarajan, Claire Boston, Heather PerlbergThe rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of …